Thank you Ace...I might just buy some from another supplier and compare the two directly to see what the deal is. I suspect that it is in fact extract though.
There are alot of extracts out there being sold as a higher quality oil. It's not always the fault of the supplier you bought it from, though they should know the difference if they are going to offer it for sale. Some trapping supply dealers don't know the difference. They buy from suppliers that advertise it as being something that it is not.
As Ace said some dilute the original product (called cutting) to make more profit.
Being a lure maker myself I have thrown away more product than I care to think about. Always shop around and ask questions from those that you make purchases from. Then buy a small quantity of product to see if in fact it is what you are looking for.
There are also different grades of anise and other essential oils out there and some of the lower grades are sold as higher grades. My biggest complaint is that of Catnip. Most of what I see on the market is Cat Mint and not true Catnip. A big difference in smell there. We extract real catnip that we grow.
It takes tons of material to make essential oils and the cost of real oil products are higher most of the time than extracts.
I laugh when I see so many recipes calling for catnip and other products that we don't have anymore. That's not to say that all products are bad. Some synthetic products are now better than the original product, or so they seem to be.
Making lure for yourself is one thing and it's fun to catch things on what you make. If you plan on going into business making lure find a money tree and water it well! High quality product is expensive and you have to spend money to have quality products to sell. If you don't have quality products you don't stay in business long.
One last thing, if you have a favorite lure that works good for you,test what you make and see if your lure works better than that. Then see how much it cost to make yours vs. what you were using.
Making baits and lures can be fun, but it can cost you a pocket full of money and time. Your on the right track by asking questions on trapperman as you can gain insight by some of the best lure makers out there! Good Luck!