A complex of gamma -cyclodextrin and retinol or a retinol derivative is new. The complexing is preferably carried out in an aqueous solution containing 5-50 wt. % cyclodextrin. Alternatively complexing takes place by kneading an aqueous cyclodextrin paste containing 25-80 wt. % cyclodextrin. In either case, the weight ratio of retinol to cyclodextrin is 1:20-1:1 (especially 1:12-1:4). The reaction temperature is 20-80 degrees C, and the complexing takes place in a protective atmosphere.
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