Why Frankincense And Myrrh Are So Expensive | Insights on Their Value and Sustainability In a fascinating exploration presented by Business Insider, the YouTube video "Why Frankincense And Myrrh Are So Expensive" delves into the rich history and significance of these ancient resins, which have been valued for over 6,000 years, primarily for their use in religious and ceremonial contexts.
Historical Significance
Primarily recognized for their biblical ties, frankincense and myrrh are much more than mere incense. These resins come from trees in the Burseraceae family, specifically the Boswellia and Commiphora species, which thrive in the harsh climates of the Horn of Africa and the Arabian Peninsula. Historically, they have played essential roles in trade routes dating back to 300 BC, where they were highly coveted commodities.
Economic Aspects
The video reveals the economic implications of these resins today. For example, first-grade A Ethiopian frankincense can be valued at approximately $430 per sack. With the rising popularity of pure essential oils, frankincense can fetch as much as $6,000 per liter, leading the sector to generate over $190 million in revenue in 2018 alone. This revenue is projected to exceed $406 million by 2028, underscoring the increasing demand and potential profit associated with these natural resources.
Sustainability Challenges
Despite their lucrative nature, the sustainability of frankincense and myrrh is under significant threat. The harvesting process, which necessitates injuring the trees to extract the resin, is detrimental to their health. It can take decades for these trees to recover and start producing resin again, contributing to the near-threatened status of some species categorized by the International Union for Conservation of Nature. The lack of harvest regulations in remote areas complicates efforts to protect these valuable trees from over-exploitation and environmental degradation.
Conclusion
The video not only sheds light on the high prices of frankincense and myrrh but also emphasizes the urgent need for sustainable practices in their harvesting. As enthusiasts and consumers of these resins, there’s a critical need to be aware of their ecological impacts and advocate for responsible sourcing. In light of this discussion, how do you see the balance between demand for these ancient resources and their sustainability? Have you ever used essential oils in your routine, and if so, what was your experience? Let's discuss!
