Locally Called “Palo Santo” meaning “sacred wood” in Spanish, guaiacwood is traditionally used as an incense.
Paraguay is the largest producer and exporter of guaiacwood oil having first commercialised production in the late 1930’s.
It is also used in South America as a hard wood for furniture and over use in recent years has led to the product being CITES (Convention on International Trade in Endangered Species) restricted. This controls the amount of harvesting and regulates trade.
Guaiacwood grows in the Gran Chaco region of Paraguay. Its heartwood produces an essential oil with a woody, sweet, lactone odour, somewhat similar to some sandalwoods.
It’s a relatively inexpensive oil for the ‘woody’ ingredient family, making it a valuable essential oil for many fragrances especially in the detergent sector.
Its main components are sesquiterpene alcohols, guaiol and bulnesol, which make up about 85 % of the oil.
The first few months of 2018 have shown good availability. However the newly implemented CITES regulations have given rise to additional regulations being imposed on the exports of this oil. If this reduces the availability of exports then there will certainly be a surge in prices for Guaiacwood oil at some point in the first semester of 2018.
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