Oud overship includes owning an unmistakable, physical resource that holds its quality in all economic situations. Oud from certain species can only be traded if it carries a Convention on International Trade in Endangered Species (CITES) permit confirming that it is from a sustainable source. The value of the oud market is therefore difficult to quantify, Oud Oil also known as “Liquid Gold” is quoted up to $50,000 per liter for top quality produce. Oud chips cost up to $10,000 per kilogram depending on resin content. The value of oud exported from Singapore alone has been estimated to exceed $1.2 billion per annum.
The Global market size for oud has been estimated to be worth anywhere between US$6 billion – US$12 billion per annum. With much of these trades going on undocumented without the required Convention on International Trade in Endangered Species (CITES) certification.
- Oils of lower quality are excluded for consistency of comparison Oils that are considered “rare one-off purchase” are anomalous and are not considered.
- Oils that do not have any specific grade mentioned in the product description, have been selected / deselected based on an objective view.
Mixed oils (Oud oil mixed with other wood- flower oils) are excluded as they do not reflect the price of pure Oud oil updated every quarter. Conversion standards used for price calculations are based on the assumption that 1 tola = 12 gm
ZENITH AGRO GROUP OUD TRADING
Oud is traded in several forms, from raw forms such as large sections of trunk to consumer products such as incense. The most common and highly traded products are the oud chips and
the highly valuable oud oil. Oud possesses different characteristics, which is classified according to a grading system that is determined by a set of factors including:
country of origin; fragrance strength and longevity; wood density; product purity; resin content; and size of the form traded.
At Zenith Agro Group, we manufacture and export oud and it’s related products. With our crops to consumers business model,
we are able to control the grade of oud produced and trade only the highest quality of oud products.