Eluban frankincense from Tigray, Ethiopia
SIP makes a two-way market in eluban frankincense, out of Tigray, Ethiopia. Sell it to us or buy it from us, and fix the price forward. Physical or financial, prompt to long dated. Every other frankincense grade and delivery point sits on the frankincense sheet.
Price this with our desk
Grade, origin and window if you have them. If what you are carrying does not fit the sheet above, describe it in your own words and a trader will take it from there.
Which side are you on
We stand on both. One counterparty, one price, either direction.
| Selling | If you grow, produce or export eluban frankincense, we are the buyer. Tell us the volume and the window and we bid it, prompt or forward, so the price is fixed before the crop moves. We price against the Oct to May harvest and ahead of it. |
|---|---|
| Buying | If you buy, process or manufacture with eluban frankincense, we are the seller. Give us the tonnage and the delivery window and we offer it, with the price locked for as long as your book needs. Arrival at destination usually runs Jan to Aug. |
Send the side, the quantity and the delivery window. We come back with a price.
The grade
Boswellia papyrifera tapped around Humera in Tigray.
Boswellia papyrifera resin from the Horn and Sahel belt, sorted by tear size.
Specification
One grade at one delivery point. Grades, origins and windows outside this line are priced on request.
| Symbol | FRANKINC.ELUBAN.ET-TI |
|---|---|
| Class | Gums, Resins & Natural Extracts |
| Commodity | Frankincense ↗ |
| Grade | Eluban frankincense |
| Delivery point | Tigray, Ethiopia |
| Country | Ethiopia |
| Subdivision | Tigray |
| Quote basis | On request |
| Market | Two-way, quoted on request |
| Serial | RESIN-FRANKINC-ELUBAN-ET-TI |
Forward, option, collar, swap and storage structures are quoted on request. Tell us the side, the quantity and the timing.
Where it comes from
This line sits in Tigray, Amhara, Benishangul-Gumuz, Oromia and Somali region, Ethiopia. We hold Ethiopia as origin for frankincense, and quote against it on a stated side, quantity and delivery window.
| Country | Ethiopia |
|---|---|
| Producing regions | Tigray, Amhara, Benishangul-Gumuz, Oromia and Somali region |
| We trade it as | Origin |
Origins and destinations outside this list trade on request. We are not limited to the locations shown here.
Shipment window
Harvest is when the material is tapped or gathered at origin. Arrival is when a shipment from that origin typically lands in a consuming market. The gap between them is drying, hand sorting, grading, laboratory clearance and the voyage.
| Harvest | Oct to May |
|---|---|
| Arrival at destination | Jan to Aug |
The dry season tapping window from after the main rains, with Boswellia papyrifera collection concentrated in Tigray and the western lowlands.
Windows outside this are priced on request. Tell us when you need it and we will work back from the date.
What we quote, and how far out
We stand on both sides of spot cash prompt out to three months, physical delivered prompt out to six months and forward from three months to twelve months. We price options, swaps and storage and rental against a stated side, quantity and window, and anything past the dates above the same way. There is no cap on the dates we will look at.
A two-way quote is firm only when a trader confirms it in writing against your side, quantity and delivery window.
Customs classification
Frankincense moves under the following Harmonized System headings. Confirm the heading with your broker before entry; classification turns on the finished specification, not the trade name.
| 1301.90 | Natural gums, resins and oleoresins, other, including frankincense (olibanum) |
|---|
Common questions
Can I lock in a price for eluban frankincense in Tigray, Ethiopia?
Yes. SIP quotes a two-way market on request, prompt to long dated. We price ahead of the Oct to May harvest as readily as against it. Send your side, the quantity and the delivery window and a trader comes back with a price. A quote is firm only when it is confirmed in writing.
Who buys eluban frankincense from Tigray, Ethiopia?
We do. SIP Global stands on both sides of this market, so producers and exporters sell to us and buyers, processors and manufacturers buy from us. There is no listing, no auction and no chain of intermediaries in between.
How do I sell eluban frankincense forward?
Tell us the grade, the volume and the months you want covered. We bid it as physical or financial, prompt or long dated, and settle against the delivery you name. Arrival at destination usually runs Jan to Aug. Structures beyond a flat forward are quoted the same way.
What is eluban frankincense?
Boswellia papyrifera resin from the Horn and Sahel belt, sorted by tear size.
What is the minimum volume?
There is no published minimum. We look at what you have or what you need, and tell you straight whether we can price it.
SIP quotes a two-way market in this grade on request. Levels are firm only when confirmed in writing by a trader against a stated side, quantity, and delivery window. All trades are subject to SIP standard terms and conditions.