— 104 - * 



As the stocks of old oil are entirely exhausted and as the article is gaining 

 popularity year by year in the confectionery-industry, while the production 

 is moreover entirely controlled by a few large firms, it is believed that 

 there is no probability of a reduction in prices, notwithstanding the 

 increased area under cultivation. On the contrary, the market wears a 

 very firm aspect. 



Spike Oil. During the last few months a very brisk turnover in this 

 article, which, as is well known, is used in large quantities and in multi- 

 farious industries, has depleted our stocks, and we are therefore anx- 

 iously awaiting the arrival of the new season's oil. In a few districts 

 of Southern France the producers refuse point-blank to distil spike oil at 

 all unless they can obtain at least 9 or lOfcs. per kilo for it. Labour is 

 scarce in the mountain districts, and can only be attracted by the payment 

 of high wages. But only those firms who use spike oil merely for the 

 purpose of "cheapening" lavender oil can afford to pay such prices for 

 it, for in this lucrative trade a few francs more or less are of no impor- 

 tance. It is therefore probable that Spain will again be called upon this 

 year to supply the bulk of the spike oil required. This country, in 

 addition to numerous inferior qualities, produces an oil which is quite 

 equal to the French in every respect, and as there are plenty of enquirers 

 the producers are standing out for considerably higher prices. A few 

 weeks must still elapse before the market settles down. 



Star Anise Oil. The market position of this important article can 

 be most readily surveyed by a glance at the table of prices below. The 

 quotations there given are "cif" and refer to unimpeachable quality with 

 a normal congealing point. 



Quotations of star anise oil : — 



on 1 st April 



5/9 



on 1 st July 



5/5 



15th 



5/7 



15th 

 ii l ** 11 



5/6 



„ 1 st May 



5/4 



ii 1 st Aug. 



5/7 



11 * ^ 11 



5/2 



15th 

 11 lyJ 11 



5/7 7a 



„ 1 st June 



5/4 



„ 1 st Sept. 



5/8 



15th 

 ii lyj ii 



5/1 



15th 

 n lxJ ii 



5/11 V*. 



It will be seen that the prices are once more tending upwards, and 

 if the crops of Russian anise and of fennel should be unfavourable it is 

 probable that there will be a further considerable increase in the quo- 

 tations. The question of the production continues to be surrounded with 

 mystery and it is therefore impossible to form any opinion on the future 

 of the article from, say, statistical data. It does not appear that considerable 

 stocks of cheap oil have been carried forward from 1911 either in Europe 

 or in the United States. 



