I — 65 — 



seriously damaged the crop. A few weeks must yet elapse before the 

 actual result of the harvest can be passed under review to some extent, 

 and before the prices have found their level. The offers which are at 

 present in the market are quite exceptionally high, but they are probably 

 purely speculative, and their purpose apparently is to find out what attitude 

 the consumers will take up towards them. The acceptance of these offers 

 would be the signal for a rushing-up of prices, of which the end could 

 not be foreseen. 



On the oil-yield of galbanum gum-resin and the properties of the oil, 

 see p. 24. 



Geranium Oil. Unfortunately it is still impossible to make any 

 cheerful reports with regard to African geranium oil. The scarcity to 

 which allusion was made in our last Report has become much more 

 pronounced still, and for pure quality it has been necessary to concede 

 prices far exceeding 60 francs. As a result of this, business has naturally 

 been restricted to the narrowest limits, and no one can be surprised that 

 the consumers shrink from paying such figures and are casting about for 

 substitutes. The exports of African geranium oil from Algiers in the first 

 half of the year 1912 amounted to 13800 kilos, compared with 14300 kilos 

 in the corresponding period of 1911. So far as we are in a position to 

 judge, the supplies available in the producing country are very small 

 indeed, and are hardly likely to hold out until the commencement of the 

 second distilling season in October. As we have already pointed out on 

 previous occasions, the memory of the losses suffered in previous years 

 appears to be still so keen among the planters that they have lost all 

 inclination to continue occupying themselves with geranium cultivation, 

 notwithstanding the highly tempting character of the present range of 

 quotations. By far the greater number of those who formerly grew 

 geraniums have now taken up wine-growing. 



The position of Reunion geranium oil has been exceedingly firm 

 throughout the summer; in fact, the prices reached a point at which the 

 employment of the oil as the basis of many important perfumes is rendered 

 practically impossible. According to the reports which have reached us, 

 sales have recently taken place at 70 francs, whereas in March of this 

 Lyear the quotation still stood at 42 francs. We must decline to express 

 any opinion on the prospects of the market, especially because the fluc- 

 tuations have lately been subject to factors which make all calculations 

 impossible. We have touched repeatedly upon this matter in previous 

 Reports and we can only repeat now that speculation continues to play 

 an important part in the course of the prices. The exports of Reunion 

 geranium oil from St. Denis in the first seven months of the present year 

 show a decline on those for the corresponding period of 1911, having 

 been 25 614 kilos and 29103 kilos respectively. 



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