Pavel Banya, Bulgaria, (UrduPoint/Pakistan Point News – June 26, 2022): Business is not a bed of roses for Bulgarian rose oil makers these days.
Made from Damask roses grown in the aptly named Rose Valley, the oil is an essential ingredient in the fragrances of the world’s top luxury brands such as Christian Dior, Estée Lauder and Chanel.
But a heat wave has reduced this year’s rose petal harvest, labor is hard to come by and soaring global energy prices have raised the costs of a product so valuable it is nicknamed “liquid gold”.
This year’s oil will be “considerably more expensive”, Plamen Stankovski, partner of rose oil producer and exporter Bulattars, told AFP at his distillery near Pavel Banya in Bulgaria’s famous Rose Valley. .
Production costs for a kilogram of rose oil were around 6,000 euros ($6,300) in 2021, but have jumped 40% this year.
The price of petals alone has doubled since last year, growers say.
This means that a 4.5 kilo glass jar filled with thick, golden-yellow oil could sell for more than 45,000 euros this year.
Bulgaria is the world’s largest producer of rose oil along with Turkey and the distilleries that run the precious substance on natural gas, diesel and fuel oil – products whose prices soared after the invasion of Ukraine by Russia at the end of February.
“The price of fuel has gone up two or even three times,” Stankovski said.