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One billion riyals, the volume of sales of the Oud market.

One billion riyals, the volume of sales of the Oud market.

Many Saudis began to prepare for the blessed Eid al-Fitr by buying perfumes and incense, and they focused on wood and agarwood oil because of their pleasant scents and a good impression on the souls.

A recent scientific study on the use of oriental perfumes in Saudi Arabia confirms that the use of oud and oil is an integral part of the personality of the Saudi citizen who is committed to the authentic heritage and customs.

The study proved the existence of a link between the use of oriental perfumes and religious rituals, as it is widely used on religious occasions, holidays and Fridays.

The study showed the distinction and luxury of the users of Oud oil and its high position in society, including the users of western perfumes. However, his favorites found it difficult to use it, in contrast to oriental perfumes, which they considered practical, quick and easy to use.

"Okaz" toured a number of companies that supply oriental perfumes and shops that sell incense and agarwood oil, where the assistant general manager of Ajmal Adel Al-Qarafi says that demand has decreased by up to 20 percent from last year.

He attributed this weakness in demand to several factors, most notably: the reservations of many families who used to place the purchase of incense and agarwood oil as one of their main priorities turned this item into a list of luxuries with the occurrence of the global crisis, the income of many of those families was affected as a result of directing a large amount of the family budget on Purchase of food, medicine and clothing as well as rent, which are items that have increased very dramatically over the past year.

Al-Qarafi estimated the size of the market for oriental perfumes in Saudi Arabia to range between 900 million to one billion, as the Saudi market is the largest in the region compared to the size of companies and suppliers operating in this market, and this is evident through the advertising campaigns carried out by these companies, adding: The season is the months of Sha’ban and Ramadan, as many distributors are keen to prepare early for the Eid Al-Fitr season, as well as families who are keen to buy their needs well in advance of the Eid period.

Al-Qarafi pointed out that the volume of sales for the month of Ramadan exceeds the rest of the year by 40 percent.

The month of Ramadan is the golden period for sales in preparation for Eid Al-Fitr, as most families buy quantities of incense and oil for the day of Eid, as well as the large number of family events during the holiday period.

On how the prices of oud are determined, he said that determining oud prices is subject to several criteria, the most important of which are: the difficulty of extracting oud wood; It is extracted from the jungles that are difficult to reach and there is a great risk, so that some workers in the extraction of agarwood told me that they lose a lot of people during the extraction process, as well as the scarcity of good species.

He also adds: Investing in the field of selling oud and oil is considered a long-term investment, as it takes about a year from opening purchase credits to reaching the distributor and collecting money from him, and this is a long period compared to other fields, which raises the cost.

Likewise, the submission of wood and agarwood oil to the CITES Convention, which is a global agreement for international trade in endangered species of wild plants and animals, which obliges the signatory countries to establish a system for licensing and controlling the export, re-export and import of living or dead animals, plants, parts and derivatives of plants and animals. It is mentioned in the annexes of the agreement, which makes it difficult to import and export agarwood.

Regarding the quality of the customers of oriental perfumes, Al-Qarafi says: The customers of oud vary according to the quality of the goods.

There are the lower quality ones. The lower the quality, the cheaper the price until we reach the adulterated types, but there is information that I would like to focus on about the fat, which is that any natural liquid product that is not tightly packed or chemically treated is difficult to maintain the same level of its first quality.

Middle-aged and elderly people come in the first place on the list of customers of oud and oriental perfumes, followed by women in the second place.

Ziyad Al-Aqili, the owner of one of the oud distribution shops, agrees that the period of Ramadan and before the blessed Eid Al-Fitr is the golden period in which the trade of selling wood and oud oil flourishes.

He complains that a number of expatriate workers are distributing adulterated types of agarwood in the markets, as they do not hesitate to cheat it either by coating the agarwood with types of manufactured perfumes or adulterating the fat by adding types of oils to it.

Oriental perfume merchant Ahmed Bin Qadeem believes that the holiday period was considered the second season after the Ramadan season in terms of purchasing and selling movements that did not witness the usual turnout this year, due to the economic conditions experienced by most heads of families.

Welcome to Binh Nghia Company

Binh Nghia Co., Ltd. is one of the leading agarwood production companies.

Now over decades of experience Binh Nghia Co., Ltd. has become one of the world's leading Oud producers.

Our products are 100% organic. Our factory is the largest in Vietnam for the production of agarwood. We specialize in this field for 40 years and the stability of raw materials for production is of good quality and quite competitive.

We are proud to be the leading manufacturer and supplier of Agarwood / Oud Oil, Chips, Incense, Resin, Sanai, Powder and Accessories. Our Agarwood has been on the worldwide market since the 1980s and we have brought much more Scent of Vietnam to every corner beyond the Middle East. It is our great honor to be part of your precious culture in every moment of life, and your precious health benefits as well.

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