Light colour is masking Greek element in perfume (9)
I believe the answer is:
ambergris
'element in perfume' is the definition.
'ambergris' can be an answer for 'perfume' (I've seen this before). I am unsure of the 'element in' bit.
'light colour is masking greek' is the wordplay.
'light colour' becomes 'amber' (amber is a kind of colour. I am not sure about the 'light' bit.).
'masking' indicates putting letters inside.
'greek' becomes 'gr' (abbreviation for Greek).
'amber'+'is'='amberis'
'amberis' enclosing 'gr' is 'AMBERGRIS'.
Can you help me to learn more?
(Other definitions for ambergris that I've seen before include "part of whale" , "Perfume ingredient from whales" , "Ash-grey, scented substance obtained from whales" , "Sperm whale product used in perfumery" , "A waxy substance" .)