Oud, also known as Agarwood is the basis for some of the most exclusive perfumes in the world. For years to come, agarwood might be one of the best investments.
The fragrances agarwood releases have long been of huge cultural significance in the Middle East. There, the fragrance is used as token of hospitality and welcome. Recently, western perfumes have taken interest in the wood due to its unique scent.
The demand of the product rises, while the supply is low. Therefore, the price goes higher and higher. Nowadays, one kg of agarwood essential oil can be as high as $30,000, while the price for wood chips go up to $6,000 per kg.