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Orange Oil, bitter. The transactions in this oil have been 

 comparatively small; the prices which in the spring months stood at 

 17 marks, gradually declined with insufficient demand, and reached 

 their lowest level at 15,75 marks. They then hardened again with 

 a brisker business, and to-day again stand at 17 marks. 



The prospects of the coming harvest are not favourable, and it 

 is believed that fairly high prices are to be expected. 



Orange Oil, sweet. Business in this article has been ex- 

 ceptionally slow and quiet during the past six months, and it is only 

 due to this that the prices have not advanced further, and in fact 

 have even suffered temporarily a slight decline. Although the existing 

 stocks of orange oil were, as early as April, estimated at only about 

 5000 kilos, and it was thought that this small quantity would quickly 

 be sold, it has taken fully four months to clear it out. In agreement 

 therewith the prices have remained without great fluctuations, and 

 have on the whole kept at the level of 18 marks which had been 

 reached already in April. At the present moment the old stocks 

 are probably completely exhausted. 



The prospects of the new harvest were originally very favourable, 

 but in July they commenced to become less and less so, owing 

 to the very large quantity of young fruit dropping off the trees, and 

 at the present moment the new crop both in the Sicilian and the 

 Calabrian producing districts is estimated as barely a medium harvest. 



The prices of the new oil will probably remain fairly high, as 

 here in the interior no stock at all, and abroad in any case only 

 small stocks of orange oil are in hand, and for this reason a brisk 

 demand is to be expected. Further, it will be necessary to take 

 more and more into consideration that the constantly increasing des- 

 patch of oranges in truckloads to Upper Italy withdraws every year 

 a larger quantity of fruit from the manufacture of essence. As, 

 moreover, contrary to other years, very little business in new oil for 

 forward delivery has been done locally, the prices of new oil will 

 presumably at first come to about 16 marks. The prices may then 

 fluctuate according to the yield of oil of the individual fruit; up to 

 the present the fruit is little developed, owing to the prolonged drought. 



Since the foregoing report was written, the condition of the 

 Sicilian and Calabrian oils has scarcely changed, except sweet orange 

 oil, the yield of which so far does not seem to answer the expectations. 

 Under these circumstances the above-cited price of Ji> 16. — is likely 

 to be exceeded during the campaign which has just set in. 



According to the results of detailed examinations made by us in 

 the last few years with numerous authentic orange oils, we have now 



