Kuwait Emerges as Major Player in High-Grade Incense & Oud Oil Market
Kuwait: Kuwait emerges as a major consumer of incense and oud oil on the global market, according to Kit Phuang, Secretary-General of the Vietnamese Incense Association. Phuang highlights Kuwaitis’ preference for high-quality agarwood, a resinous wood used in incense and perfume. This appreciation for premium oud has drawn him to Kuwait multiple times for business ventures.
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While Kuwait sources incense and oud oil from various Southeast Asian nations for their affordability, Vietnamese oud holds a special distinction for its superior quality and aroma. Phuang notes that Vietnamese oud is a prized export not only in the Middle East but also reaches markets like China and Japan.
The price of oud can vary dramatically, ranging from $100 to $1 million per kilogram. Phuang explains that this price disparity is linked to the age of the agarwood tree. The rarest and most expensive oud comes from trees exceeding a century old. Also these are primarily sought by Chinese buyers for medicinal uses and decorative purposes rather than burning as incense.
Despite the high cost of top-tier oud, Phuang commends Kuwaitis for their expertise in this domain. He observes their preference for quality over price and their extensive knowledge gained through daily use. Phuang finds dealing with Kuwaiti customers to be a positive experience, impressed by their professionalism and willingness to share their knowledge, reported Al Jarida.
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