Oud is one of the most expensive raw materials used in modern perfumery,costing up to €27,000 per kilo.to €27,000 per kilo.The current global market for agarwood is estimated to be worth over €5.5bn and is growing rapidly.The main reason why it is so expensive is its scarcity.Not only has the International Union for Conservation of Nature classified the Aquilaria tree species as critically endangered(its population has declined by more than 80% over the past 150 years),estimates also suggest that agarwood production occurs naturally to only 10% of the trees.
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