— 6o — 
Rose Oil, Turkish. It is of course well known that fate has 
been exceptionally kind this year to the Bulgarian rose -harvest, and 
that in consequence the rose-oil distillation has given a result as never 
before within living memory. The total yield is estimated at 
about 6260 kilos 
against 3900 „ in 1902 
and 3200 „ „ 1 901. 
This enormous increase has naturally led to a further depression 
in the prices, and has caused such fluctuations especially in ordinary 
commercial qualities, that a fixed price for the latter is practically out 
of the question. 
The fall would probably have acquired still greater dimensions, if 
a brisk demand had not suddenly sprung up towards the end of 
August, which arrested the downward tendency. The absurdly low 
prices have attracted the interest of financially powerful speculators, 
and the latter, in conjunction with the usual regular purchasers, have 
bought up in the course of a few weeks more than 4000 kilos, that 
is to say two thirds of the whole harvest. The remainder is in the 
hands of producers who speculate with it, or sell it only at high prices. 
The sudden speculative enterprises of such remarkable extent are ex- 
plained thus, that many rose-cultivations have been given up on account 
of their unremunerative character, and that in their place the culti- 
vation of Turkish tobacco is taken up, which is highly remunerative 
and offers excellent prospects, in view of the great demand for the 
manufacture of cigarettes. This statement has reached us from a 
reliable source, and it appears to us in so far plausible, as the culti- 
vation of roses, as a matter of fact, is at present wholly unable to 
show a profit. 
On the other hand, the trade in rose oil still seems to pay well, 
if the quantity produced is compared with that exported. For example 
in 1900 there were exported 5846 kilos 
produced 3789 „ 
and therefore exported 2057 kilos more; 
in 1 90 1 exported 5167 kilos 
produced 3260 „ 
therefore a surplus of export of 1907 kilos. 
The export - figures are those given by the Direction of the Sta- 
tistical Department of Bulgaria i), whilst the figures of the production 
represent the average of the figures given by the principal rose -oil 
merchants and producers. It will be seen from these data with a fair 
^) Compare statistics, Report October 1900, 51. 
