The most common and most likely answer to this crossword clue is the 8 letter word BDELLIUM
I've seen this crossword clue in The Times
B
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Buddy explains!
The straight part
We know that "resin used as incense" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case resin used as incense = bdellium.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does BDELLIUM mean?
BDELLIUM noun- Probably an aromatic gum like balsam that was exuded from a tree, probably one of several species in the genus Commiphora.