Export Performance of Palmarosa oil in India: A Growth and Instability Analysis

Abstract

The present study attempts to examine the annual and compound growth rate in the export of Palmarosa oil. The time-series data for a period of 2000-20 was analyzed by using a growth model. Quantitative analysis was used to perform descriptive statistics, linear and exponential, and quantum change estimation using exclusively secondary data. The results revealed that the compound growth rate (CGR’s) of export of Palmarosa oil was statistically significant at a 1 percent probability level. The quantity export compound growth rate was 22.33 percent per annum, and exported value was 39.17 percent per annum. The maximum and positive to negative annual growth rate of the export of Palmarosa oil during the entire study period and instability have been directly related to each other. Though, Palmarosa oil export achieved more stable values followed by quantity. The top three countries USA, France, and Spain, recorded significant imports (quantity and value) of Palmarosa oil from India. The result also reveals that the most significant change in quantity export increase was more prominent in Spain, and value export increased in Australia during 2019-20 over the previous year.