Mint oil prices rebound, but few small mint farmers see a future with foreign competition
By Rick Callahan, APMonday, June 14, 2010
US mint production wilts with foreign competition
SAN PIERRE, Ind. — The nation’s mint farmers are struggling to stay afloat in the face of cheap foreign mint oil that’s forced many farmers to stop growing the fragrant crop.
While buyers are now offering mint farmers more attractive contracts for their mint oil, the future of American mint farming is uncertain.
Foreign competition, mainly from India, has flooded the market with cheaper versions of the oil that flavors everything from toothpaste to candies. And the small family owned farms that once supplied most of the nation’s mint are fading away.
Government figures show that between 1997 and 2007, the number of U.S. mint farms plummeted from 964 to 341, while peppermint and spearmint production fell from 12.5 million pounds to 8.7 million pounds.
