— 26 — 



Whereas for lemons and oranges a good harvest is probable, too 

 great expectations should not be entertained for a rich bergamot-har- 

 vest, as the tree has lost much strength owing to the last abundant 

 crop and the high oil -content of the fruit, and is in need of rest 

 and recovery. 



With regard to the individual kinds of essences, the following is 

 mentioned: — 



Bergamot Oil. In the autumn of 1905, there was a very satis- 

 factory prospect of a good medium harvest, whilst the stocks of prompt 

 oil had dwindled down very much; when in the course of October a 

 brisk demand came from abroad for spot oil, the orders could only 

 be executed at advancing prices, so that this article from 18,50 marks 

 at the beginning of September, rose in the course of October and the 

 first half of November to 21 marks. But the small stocks of old oil 

 were not sufficient to satisfy the sudden demand from abroad, and 

 as a consequence the new oils, in spite of their usual low ester- content 

 of 30 to 31%, were taken from the market at full prices, and at first 

 fetched the same prices as old finest quality oil. 



This, however, only lasted until more abundant supplies were placed 

 on the market; as soon as this was the case, the article fell back to 

 more sensible quotations. 



Declining slowly, they reached about the middle of December their 

 lowest level of 17,75 marks, to advance again in the last few days of 

 December to 18,25 marks, owing to a more brisk demand. At this 

 level the prices kept during the first month of the new year, and only 

 dropped a little again in February. 



If it is considered that the manufacturers have had at their disposal 

 a good medium crop of fruit, and that moreover the fruit has given 

 a rich yield of oil, it would not seem probable that the price of this 

 article could be kept at the present level; but there is every indication 

 that the opposite will be the case. 



In spite of the much richer harvest, the present stocks, owing to 

 the continued brisk export, are only very little larger than in the 

 previous year, and there are probably at present smaller stocks of oil 

 held abroad than in March of last year. 



If it is further taken into consideration that the bergamot - tree 

 only on the rarest occasions gives two good crops one after the other, 

 the conclusion will be drawn that the prices of bergamot oil in the 

 course of the next six months will hardly go lower, but that, on the 

 contrary, it is not improbable that the summer and autumn will bring 

 a slow upward movement in the value of this article. 



Lemon Oil. The trade in lemon oil was so animated during 

 the autumn months of last year, that the market, contrary to the view 



