I have never looked into the hazards (if any) of Turpentine, just knew from many years of oil based paints (showing my age, haven't used it for years) that the stuff stinks IMO. Of course Mineral Oil is a petroleum by-product...
Just use plant oils that you would cook with, or use in a salad dressing, and Bee's wax. You can eat either. I use a bit more oil than wax 5:4 ratio. We use natural Rosemary extract, an anti-oxidant to extend shelf life (not for odor), but for small batches you won't need it. Of course we use no added 'scent',
good quality (Honey) Bee's wax has a wonderful aroma, no need to cover it up, or hide the ingredients.
Purple-Days Buzz Butter recipe :
Organic Flax Oil
Organic Coconut Oil
Organic Hemp Seed Oil
5 Parts Oil
Tahuya River Bee's Wax (a chemical free Bee Keeper)
4 Parts Wax
Rosemery Oil extract
a tiny bit as an anti oxidant and preservative
Heat oil and wax in a double boiler or crock pot (low heat), when melted add (or not) Rosemary Oil extract and pour into containers for storage.
This stuff also works on leather too, but test it as it will darken most leathers.