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ditions, and has given a yield of about 5000 kilos rose oil. If this 

 result is not quite equal to that of the previous year, when about 

 6200 kilos were obtained, it yet exceeds that of an average harvest. 

 This result was all the more surprising, because as late as April an 

 advance in the prices was represented as probable, — no doubt with 

 the view of disposing of the stocks of old oil. 



Up to the present, about 2200 kilos have changed hands since 

 the new harvest, and that at prices which lie near 500 marks. Below 

 these prices, so-called first quality oil has not yet been obtainable. 

 Many distillers hold out for decidedly higher prices, and to-day the 

 same comedy is again being enacted as in other years. Our buyer 

 reports that the adulteration of rose oil by producers and merchants 

 is seriously on the increase, and that the difficulty of finding pure 

 otto grows from year to year. 



Of the rose -oil factories erected at Karlovo, one, so we are in- 

 formed, has already gone bankrupt and is now closed. For the two 

 others, the prediction is also unfavourable. 



Under pressure of keen competition we supply rose oil at an 

 extremely small profit, which does not exceed the rate of simple interest. 



The export of rose oil during last season, i. e. from April I st 1903 

 to April I st 1904, was as follows: — 



to France 1834 kilos 



„ America •. 1403 „ 



„ Germany 1039 „ 



„ United Kingdom .... 913 „ 



„ Turkey 422 „ 



„ Russia 278 „ 



„ Austria . 55 „ 



„ Italy 32 „ 



„ Switzerland ...... 13 „ 



„ Holland 3 „ 



„ Belgium 4 „ 



„ Other countries 6 „ 



Total 6002 kilos 



against 3624 „ 



during the same period 1902 — 1903. 



On the other hand, the export from January I st to July I st 1904 

 came only to 993 kilos, against 1951 kilos in the same period in 1903. 



Under the foregoing conditions an increase in the prices can hardly 

 be expected, for, according to present experience, it seems out of the 

 question that speculators will take up on a large scale an article of 

 which it is difficult to judge the real value. 



