Fragrant resin obtained from tropical trees, such as those of the family Burseraceae (5)

I believe the answer is:

elemi

(Other definitions for elemi that I've seen before include "Resinous stuff" , "aromatic resin" , "Extract" , "Fragrant substance" , "Tree resin; ie, elm (anag.)" .)

I've seen this clue in The Independent.

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