PWC News
Saturday, July 11, 2026
No Result
View All Result
  • Home
  • Business
  • Economy
  • ESG Business
  • Markets
  • Investing
  • Energy
  • Cryptocurrency
  • Market Analysis
  • Home
  • Business
  • Economy
  • ESG Business
  • Markets
  • Investing
  • Energy
  • Cryptocurrency
  • Market Analysis
No Result
View All Result
PWC News
No Result
View All Result

How an ancient resin traded for centuries got snarled up by the Iran war

Home Economy
Share on FacebookShare on Twitter


Frankincense is harvested from Boswellia timber on the Arabian peninsula. It is helped outline commerce routes for hundreds of years, however shipments have been disrupted by the U.S. conflict with Iran.

Maha Loubaris/AFP


cover caption

toggle caption

Maha Loubaris/AFP

Frankincense was buried with King Tut. Gifted by smart males to the newborn Jesus — and burned as incense in church buildings and temples world wide.

A line chart showing 30-year and 15-year mortgage rates from January through March 2026. The chart shows steady rates until the end of February, then a rise. There is an annotation noting that war with Iran began Feb. 28.

Now this prized product that helped to outline historical buying and selling routes is tangled in a contemporary navy battle, identical to all the opposite items caught in visitors across the Strait of Hormuz.

Frankincense is an fragrant resin harvested from Boswellia timber in northern Africa and the Arabian peninsula. And it has been a number one export from that area for much longer than crude oil.

“The commerce of frankincense is one thing that is effectively over 6,000 years previous,” says Anjanette DeCarlo, an adjunct professor on the College of Vermont. “Traded on the Silk Route into China and in addition, after all, introduced into Europe, so extensively used throughout the traditional world, proper up until at this time.”

How the conflict with Iran is snarling international commerce

Frankincense is now used primarily as a well being complement, anti-aging creme or in fragrance. 1000’s of tons are exported yearly from Oman, Yemen and the close by Horn of Africa. These exports at the moment are dealing with the identical wartime blockade as oil tankers within the Center East.

A man looks at his mobile phone as he sits under a Frankincense tree in the Eastern Mountain, outside the port capital of Muscat on February 10, 2025.

The Boswellia timber from which Frankincense is harvested develop primarily on the Arabian peninsula and within the Horn of Africa. A number of are cultivated, however most are tapped within the wild.

Loic Venance/AFP through Getty Pictures


cover caption

toggle caption

Loic Venance/AFP through Getty Pictures

That got here to gentle this week in a report from the Institute for Provide Administration, which conducts common surveys of companies across the U.S. and publishes a sampling of their responses.

“The U.S.-Israel navy operations in opposition to Iran have created vital uncertainty for our Omani frankincense imports,” wrote an unidentified wholesaler. “Threats to shut the Strait of Hormuz and rising war-risk surcharges are pressuring regional logistics prices, even for air freight.”

Steve Miller, who oversees the ISM survey, says that remark is symbolic of the conflict’s many unintended penalties.

“If you look deep in provide chains, there are issues that you do not anticipate,” Miller says. “This one was fascinating in that it was a major influence to this firm.”

Like many companies, the frankincense importer quoted within the ISM report was already dealing with larger prices due to President Trump’s commerce conflict. These tariff complaints have now been eclipsed by provide challenges tied to the true conflict.

“Actually, oil is the highest of thoughts of everybody,” Miller says. “However there are a lot of different impacts to the number of corporations which are doing enterprise over there. And it is not simply, ‘Go look someplace else.’ That is actually the only area the place they will import these merchandise from.”

Frankincense manufacturing faces different challenges

Conflict will not be the one risk dealing with the frankincense provide. Whereas a number of the timber that produce the resin are cultivated, the overwhelming majority develop within the wild. That makes them weak to deforestation and over-harvesting.

President Trump speaks from the White House on April 1. His stated goals for the Iran war look mostly unmet.

“I do usually examine it to maple syrup manufacturing,” says DeCarlo. “You possibly can solely faucet maple timber at a sure time of 12 months in sure situations so the timber keep wholesome, and the identical is true of frankincense.”

DeCarlo is the founding father of the Save Frankincense Initiative, which works with church buildings and firms that use the resin to advertise sustainable harvesting strategies. She says the conflict has as soon as once more highlighted how fragile some international provide chains could be.

“We actually want folks to concentrate on frankincense and the way lengthy it has been one thing that humanity has adored, liked, revered,” DeCarlo says. “There’s been multitudes of disruptions of this commerce and human beings have discovered a approach to proceed the commerce of this resin as a result of it’s so necessary to us.”



Source link

Tags: AncientcenturiesIranresinsnarledTradedWar
Previous Post

Only five ships crossed the Strait of Hormuz Thursday, far below Iran’s pledge as negotiations begin | Fortune

Next Post

Ex-SEC, Coinbase Staffer Becomes Securitize President

Related Posts

A major housing bill is set to become law at midnight — even though Trump says he won’t sign
Economy

A major housing bill is set to become law at midnight — even though Trump says he won’t sign

July 10, 2026
Sri Lanka rupee closes at 335.70/90 to US dollar spot, bond yields flat | EconomyNext
Economy

Sri Lanka rupee closes at 335.70/90 to US dollar spot, bond yields flat | EconomyNext

July 10, 2026
92% of people will be affected by cancer at least once in their lifetime, says WHO
Economy

92% of people will be affected by cancer at least once in their lifetime, says WHO

July 10, 2026
Kenya to raise Sh129.2 billion from climate-linked loans
Economy

Kenya to raise Sh129.2 billion from climate-linked loans

July 10, 2026
Reeves’ legacy of tinkering with the City is not enough, says Stride
Economy

Reeves’ legacy of tinkering with the City is not enough, says Stride

July 9, 2026
Trump policy has cost Americans ‘lots of pain but little gains’: report
Economy

Trump policy has cost Americans ‘lots of pain but little gains’: report

July 11, 2026
Next Post
Ex-SEC, Coinbase Staffer Becomes Securitize President

Ex-SEC, Coinbase Staffer Becomes Securitize President

Nexus Mutual wants to be the insurance policy your crypto never had

Nexus Mutual wants to be the insurance policy your crypto never had

Catinazzo, Relay Therapeutics CFO, sells 7k in RLAY stock By Investing.com

Catinazzo, Relay Therapeutics CFO, sells $257k in RLAY stock By Investing.com

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Marco Rubio Spreads Lies to the MAGA Crowd – 2GreenEnergy.com
Energy

Marco Rubio Spreads Lies to the MAGA Crowd – 2GreenEnergy.com

by PWC
July 7, 2026
0

If it weren’t for the existence of social democracies everywhere in the world, the clown on this one-minute-long video may...

Saba Saba shutdown leaves businesses counting losses again

Saba Saba shutdown leaves businesses counting losses again

July 8, 2026
Your Midyear Trading Reset Starts Today

Your Midyear Trading Reset Starts Today

July 7, 2026
Personal Privacy vs Police: When Is It Too Much?

Personal Privacy vs Police: When Is It Too Much?

July 9, 2026
Conservative economist tells WSJ: Trump is destroying the economy

Conservative economist tells WSJ: Trump is destroying the economy

July 7, 2026
IC Electricals IPO opens today: Grey market hints at a robust 44% listing premium

IC Electricals IPO opens today: Grey market hints at a robust 44% listing premium

July 10, 2026
PWC News

Copyright © 2024 PWC.

Your Trusted Source for ESG, Corporate, and Financial Insights

  • About Us
  • Advertise with Us
  • Disclaimer
  • Privacy Policy
  • DMCA
  • Cookie Privacy Policy
  • Terms and Conditions
  • Contact Us

Follow Us

No Result
View All Result
  • Home
  • Business
  • Economy
  • ESG Business
  • Markets
  • Investing
  • Energy
  • Cryptocurrency
  • Market Analysis

Copyright © 2024 PWC.