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Orris Oil. Our buyers at Florence report as follows on the 

 market of Florentine orris root: — 



According to our previous communications, the quantity at disposal, at the 



end of February 1904, amounted to 680 tons 



Shipments from the beginning of March to the end of August . 190 ,, 

 Consequently on September I st 1904 still available 490 tons 



The total quantity of the shipments in the 12 months ending August 1904 

 amounted to 820 tons, i. e. 80 tons below the average annual quantity of 900 tons. 

 The new harvest has recently commenced, and will as usual last to October/Nov- 

 ember. The quality of the crop gathered up to the present leaves much to 

 be desired, — no doubt in consequence of the neglect in the cultivation, and 

 the exceptional drought of the summer of 1904; but later on a better quality 

 may possibly make its appearance, as the harvest in the producing- districts 

 lying at greater altitudes, where rain has repeatedly fallen, only takes place 

 later. With regard to the quantitative result of the harvest, nothing can as 

 yet be stated, nor even an approximate estimate made. The large quantities 

 planted out in 1901 are now ripe for gathering; these must be picked during 

 the present autumn, for reasons mentioned repeatedly. There are further the 

 roots planted in 1902, not quite so large a quantity, which may be gathered 

 either now or in the autumn of 1905, as desired. Now it has often occurred 

 in the past that an untimely advance in the prices exerted an enormous influence 

 not only on the harvest, but also on the new plantings. For example, in the 

 summer of 1902 it was said that only the 3 year old roots would be gathered, 

 which justified the estimate, made at that time, of a crop of 700 to 800 tons. 

 But when towards the end of that harvest the price gradually increased from 

 38 to 44 marks cif. Hamburg for assorted roots, the growers, by subsequently 

 gathering the 2 year old roots, produced the remarkable total yield of about 

 1000 tons, and at the same time forgot in many cases their good intentions 

 respecting the planting out of smaller quantities. The foregoing makes it clear 

 that any estimate of the quantity of the harvest just commenced is so far 

 problematical. But if we accept a minimum of 700 tons for the new harvest, 

 we have, after adding the old stocks of 490 tons, in any case an available 

 total quantity of 1 1 90 tons, that is to say 300 tons more than the world's annual 

 consumption. Up to the present a few small sales of the new crop have taken 

 place at the parity of 37 marks cif. Hamburg, for assorted roots; seconds, 

 which are only sold at a later period, might therefore be valued at 32 to 33 marks. 

 It does not look, however, as if for the time being a brisk demand would 

 arise at these figures, as it is reported from many quarters that the previous 

 purchases will last still for a considerable time. During the past twelve months 

 the quotations have not fluctuated greatly, the prices paid were: 



Assorted roots Seconds 



September/December 1903, 35 to 37 marks 31 to 32 marks 



January/March 1904, 37 „ 38 „ 32 „ 33 „ 



April/August 1904, 38 „ 37 „ 33 „ 32 „ 



all per 100 kilos cif. Hamburg. In view of the statistical position of this 

 article, an improvement in the prices for the coming season may, unfortunately, 

 hardly be expected. 



According to the above reliable report, the exceptionally low prices 

 of orris oil will no doubt remain in force, at least for the next twelve 

 months, provided always that up to the time the roots are gathered 

 no abnormal natural phenomena take place. 



