Kazanlak, a city in the centre of the Rose Valley, is known for its traditional Rose Festival which is held every year during the first weekend in June. This festival originates from the celebrations held at the beginning of the rose-harvesting period. The air humidity, cloudiness and precipitation in May and June contributed to obtain roses yielding high percentage of oil, and oil of superior quality. The Bulgarian oleaginous rose yields 70 percent of the world's attar of roses used by every well-known perfume company as an essential component of its products. The first rose festival in Kazanlak took place in 1903. Few years later, a similar fest was organized in the town of Karlovo, situated in the same area. The electing of Queen Rose, the harvesting ritual in the rose gardens and the parade along the streets of the town are the most interesting events during the festival.