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For optimum flavor and aroma, it's best to use citrus zest as soon as possible after you grate it. It can, however, be held several hours, it you cover and refrigerate it, so that it doesn't dry out. Any kind of grater with small holes works for citrus peel/zest, though before buying a long thin grater, box grater, citrus garnishing tool or all-purpose hand-held graters, make sure the cutting edges are sharp.