The Fats and oils situation

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Material Information

Title:
The Fats and oils situation
Physical Description:
301 v. : ill. ; 26-28 cm.
Language:
English
Creator:
United States -- Bureau of Agricultural Economics
United States -- Agricultural Marketing Service
United States -- Dept. of Agriculture. -- Economic Research Service
United States -- Dept. of Agriculture. -- Economics, Statistics, and Cooperatives Service
United States -- Dept. of Agriculture. -- Economics and Statistics Service
United States -- World Food and Agricultural Outlook and Situation Board
Publisher:
The Bureau
Place of Publication:
Washington
Publication Date:
Frequency:
frequency varies

Subjects

Subjects / Keywords:
Oil industries -- Periodicals -- United States   ( lcsh )
Oils and fats, Edible -- Economic aspects -- Periodicals -- United States   ( lcsh )
Genre:
federal government publication   ( marcgt )
periodical   ( marcgt )
serial   ( sobekcm )

Notes

Statement of Responsibility:
United States Department of Agriculture, Bureau of Agricultural Economics.
Dates or Sequential Designation:
FOS-1 (Mar. 1937) - FOS-301 (Oct. 1980).
Issuing Body:
Issued by: Agricultural Marketing Service, 1954-Mar. 1961; Economic Research Service, May 1961-<Oct. 1977>; Economics, Statistics, and Cooperatives Service, <May 1978>-July 1980; Economics and Statistics Service, Oct. 1980.
General Note:
"Approved by the World Food and Agricultural Outlook and Situation Board," Oct. 1977-Oct. 1980.
General Note:
Title from caption.
General Note:
Item 21-D.

Record Information

Source Institution:
University of Florida
Rights Management:
All applicable rights reserved by the source institution and holding location.
Resource Identifier:
aleph - 000502965
oclc - 01588232
notis - ACS2699
lccn - 46039840 //r82
issn - 0014-8865
sobekcm - AA00005305_00002
Classification:
lcc - HD9490.U5 A33
ddc - 380.1/41385/0973
System ID:
AA00005305:00002

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Succeeded by:
Fats and oils outlook & situation

Full Text





SUNITD STATES DMPAR2'ENT OF AGRICULTURE
-: Bureau of Agricultural Economios
Washington


os-I&
i;
'Ii'


THE FATS AND OILS SITUATION



FEATURING PELAUT OIL


SUPPLIES OF PEANUT OIL IN THE UNITED STATES.
AVERAGE 1925-29. AND 1930 TO DATE


POUNDS
I MILLIONS I


I.








Stocks (October 1
SNet imports
Factory production

I


1


I 1*rY 1


I I U -


1925-29 '30-31 31-32 32-33 '33-34 34 35 '35-36 '35
YEAR BEGINNING OCTOBER
NET ErPOITS. 8 MILLION POUNDS a STOCKS. I1 MILLION POUNDS
U 5 DEPARTMENT OF AGRICULTURE NEG 32440 BUREAU OF AGRI


6 MONTHS,
OCTOBER-MARCH








If


i-36 '36 37


CULTURAL ECONOMICS


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PEANUTS AND PEANUT OIL

The apparent disappearance of 134 million pounds of crude peanut oil

in the United States in 1935-36 was more than 10 times greater than in

1933-34, the Bureau of Agricultural Economics reports. Increased utilization

of peanut oil in compounds and vegetable shortenings has paralleled, on a

smaller scale, similar large increases in the use of soybean oil in recent

years. (See FOS-2, April 1937.) Peanut oil still comprises only 3 percent

of the total disappearance of vegetable oils in the United States, but prior

to 1954-35 it was less than 1 percent. The larger supplies of peanut oil

were furnished by crushing greater proportions (see table 4) of larger crops

of harvested peanuts and by greatly increasing imports. Advancing prices

have accompanied the increases in consumption.

Current situation

More peanut oil has been produced in the first 6 months of the
1936-37 season than in any complete post-war crop year. Factory production
of 67 million pounds October 1936 March 1937 compares with 49 million
pounds in the same period of 1935-36 and 54 million pounds in the first
half of 1934-35. Since 70 to 90 percent of a season's output of oil is
produced in the first half of the year it is possible that relatively little
may be added during the remainder of this crop year. Net imports of peanut
oil during October March of this year have been definitely smaller, 12
million pounds as compared with imports of 20 million and 26 million pounds
in the first 6 months of 1934-35 and 1935-36, respectively, but may increase
in the second half with the cessation of the West Coast shipping strike and
large supplies in China.

Stocks of pemnut oil on March 31 were reported to be 34 million
pounds, somewhat smaller than the 41 million pounds on hand at the same
time l,.st year, but the same as the March stocks in 1935. These figures
with the data on production and trade indicate that apparent disappearance
has been r.t approximately the same rate as in 1935-36, 62 million pounds
in October March as compared with 66 million last year. It seems probable,
therefore,that total consumption in 1936-37 will not differ greatly from
the large figure for 1935-36.

The average price of peanut oil, crude, f.o.b. mills, at 9.2 cents
per pound in May has fallen somewhat from 10.6 in January, which was the
highest monthly average for the season; it was nevertheless well above the
May 1936 aver-ge of 7.9 cents and about the same as 2 years ago when the
price wa.s 9.5 cents. The price of cottonseed oil has likewise declined from
10.4 cents in January to an average of 8.9 cents per pound in May. (See
figure 1.) In fact, a slight decline with a few exceptions, such as :uith
linseed oil, has been general in fats and oils prices. (See table 7.)


FOS-4


- 2 -





POS-4


Outlook

Thc-report of planting intentions indicated that total 'acreage planted
to peanuts would be slightly greater in 1937 than in 1936, but early weather
conditions in all areas were somewhat unfavorable. Recently, rainfr.ll and
temperature have both been favorable for the growing crops and stands are
good. The season is however, 2 or 3 weeks behind normal.

No announcement has been imade of a 1937 diversion program by the
Agricultural Adjustment Administration, but in any event crushtngs will
probably depend'in part on the extent to which the present favorable dm-a-nd
situation for peanut oil for compounds and vegetable shortenings continues.
Probable lower prices for peanut meal will be-of minor importance in the
situ-ation. Possible competing supplies of vegetable oils are indicated as
follows: Lard production na be expected to be smaller during the rest of
1937 than it was in 1936 with an upturn in production by-the second quarter
of 1938. Stocks of lard were larger on June 1, 1937 than ever:before report-
ed bn that date. Cotton acreage reports by the Government will not be
released until July 8 and'the first estimates of production will be relc;sed
Aughst 8. Therefore, no estimate is being made of cottonseed oil supplies.
To date, however, rather favorable growing conditions for cotton in.ve
prevailed throughout the South. Domestic soybean oil supplies nmy continue
to be large in 1937-38, since acreage intentions in 1937 indicate a 12 per-
cent increase over 1936. No information is available on probable corn oil
production.

Consumption of edible oils abroad appears to have been fairly steady,
the recent general decline in prices being influenced by speculative
activities. Foreign takings of American lard were larger in March and April
than in February. Little can be said of future foreign supplies. No
prospect reports for 1937-38 rre yet available for many of the foreign oils;
however, supplies of copra in the Philippines are expected to increase in the
latter p-.rt of 1937 and estimates of the 1937 soybean acreage in Manchuria
indicate a supply as large as last year. It is reported that Gcrrrn and
Japanese whaling fleets operating in the 1937-38 season anry naterially augment
the usual supplies of whale oil.

Reports available at present suggest, on the whole, increased supplies
of vegetable oils in 1937-38 and these, even in view of probable continued
favorable demand conditions in general may result in some reduction in
domestic derm-and for peanut oil.

United States production and consumption of p'eanut oil

Aver-co factory production of crude peanut oil in the dozen years pro-
ceding 1934-35 was 13 million pounds; in that year it increased to 56 million
pounds, and in 1935-36 to 64 million. This high level of production has been
maintained during the first 6 months of 1936-37 with 67 million pounds of oil
produced from 19.3 percent of the 1936 peanut crop.

Stocks of peanut oil cwre built up to 33 million pounds at the end of
September 1935, but they were reduced to 17 million pounds at the end of
September 1936. Apparent disappearance was 134 million pounds in 1935-36
compared with 98 million pounds in 1934-35. Disappe-rance in 1932-33 ur.s
12 million pounds, and in the dozen yer.rs 1922-23 to 1933-34, 17 million
pounds. (See table 1.)


- 3 -






FOS-4


Table 1.-Peanut oil, crude: Production, trade, stocks September 30,
and apparent disappearance, 1924-25 to 1935-36


Year : Factory :
beginning :production: Imports :Reexports
Oct. 1 I/ :
:1,000 lb. 1,000 lb. 1,000 lb.


1924-25
1925-26
1926-27
1927-28
1928-29
1929-30

1930-31
1931-32
1932-33
1933-34
1934-35
1935-36


4/:


15,134
11,927
7,990
14,014
12,977
27,078

15,549
11,567
14,502
9,791
55,595
64,407


2,923
8,618
2,670
4,988
3,362
14,480

14,318
3,340
1,269
3/1,277
73,792
53,885


11,865
50
378
825
46
85

11,670
11,499
3


: Net :Stocks, at
: imports : end of
: : period
1,000 lb. 1,000 lb.


2/-8,942
8,568
2,292
4,163
3,316
14,395

2,648
2/-8,159
1,266
1,277
73,792
53,885


1,364
5,260
1,268
2,585
3,935
17,412

13,360
2,987
3,067
2,160
33,068
17,042


1/ From domestic material. It is believed that imported peanuts are not
used for crushing. 2/ Excess of reexports. 3/ Imports for consumption,
beginning January 1934. 4/ Preliminary.

Compiled as follows:
Production and stocks, Bureau of the Census, Animal and Vegetable Fats
and Oils.
Trade figures from Foreign Colmmerce and Navigation of the United States.
Apparent disappearance computed from table.

By far the greatest part of these increased supplies of peanut oil has
been used in compounds and vegetable shortenings. Factory consumption of
pa- nut oil by this class of products jumped from an average of 5 million pounds
in the period 1931-34 to 91 million pounds in 1935 and 89 million pounds in
1936, while peanut oil used in the manufacture of oleomargarine increased
from an average of 3.1 million pounds in 1931-34 to 4.2 million in 1935 and
1936. Factory consumption in other edible products likewise increased by
only about 2 million pounds. The proportion, therefore, as well as absolute
quantities, of peanut oil going into compounds mnd vegetable shortening
increased considerably, by from 40 to 85 percent. It should be noted, how-
ever, tnht of all the fats and oils going into compounds, peanut oil com-
prised only 6 percent of the total in 1935 and 5 percent in 1936, although
it h.d formed only 1 percent or less of the totr, in earlier years, Very
snall .amounts of peanut oil are also used in the soap industry and for
miscell.neous products. (See table 2.)


Apparent
disap-
peatance
1.000 lb.

7,214
16,599
14,274
16,860
14,943
27,996

22,249
13,781
15,688
'11,975
98,479
134,318


___


- 4 -






-5-


Table 2.- Peanut oil:


Factory consumption by classes of products


and total disappearance, United States, 1931-36

Products using 1931 1932 1933 1934 : 1935 : 1936
peanut oil1
:1,000 lb 1,000 lb 1,00 lb 1,00 lb 1.000 lb 1,00 lb
Compounds and vegetable
shortenings 5,960 3,502 3,330 S,837 90,900 S8,74o
Oleomargarine : 4,598 2,512 2,635 2,744 4,353 4,14o
Other edible products : 1,434 1,180 1,269 854 3,602 2,419
Soap 244 290 529 147 754 1,734
Paint and varnish 20 3 1 -
Printing inks 1 1 -
Miscellaneous products 117 4 36 49 154
Foots and loss I/ : .16q 1.081 1.072 2,367 9,610 6,928
Total factory
consumption 2/ : 13,5' 8g.608 3,72 14.99q 109,378 103.735
Total apparent
disappearance / : 21,399 15,336 '14.105 25,929 122.235 120.424
As a percentage of the total factory
: consamr'tion of peanut oil 4/
:Percent Percent Percent Percent Percent Percent
Compounds and vegetable
shortenings : 41 38 59 S3 85
Oleomargarine : 33 29 30 18 4 4
Other edible products : 11 14 14 6 3 2
Soap 2 3 6 1 1 2
Other 5/ 10 13 12 16 9 7
Total : 100 100 100 100 100 100
l/ Foots, or residue from refining, are largely used in soap stock.
2/ The Bureau of the Census computes net consum-'tion by deducting from the total
of both crude and refined consumed the quantity of refined oil produced.
3] Computed from data on production, trade and stocks. (See table 1.) It is
believed that some of the difference between reported factory consumption and
computed apparent disappearance is probably due to the fact that considerable
quantities of oil may go directly into such edible uses as salad and cooking
oil, etc.
4/ Computed by Bureau of Agricultural Economics from preceding data.
5j Chiefly foots, including loss in refining and negligible amounts used by
other industries, see above.
The first section of the tr-.blc is from Bureau of the Census, Factory Consumption
of Primary Animal and Vegetable Fats and Oils, by Classes of Products.

Prices of peanuts and peanut oil

The expansion in production, imports, and consumption of peanut oil since
1934-35 has been accompanied by higher prices. The price nf crude peanut oil had
fallen fairly steadily from \in averagee of 14.6 cents per pcurnd in 1923 to 3.7
cents in 1932. Prices continued low, around 4 cents, until the frl1 of 1934 'hen
they rose shr.rply, reaching 9.4 cents by December of that year, and since then
they have remained at a level of from S to 10 cents per pound. The price of crud.
cottonseed oil and other oils had risen markedly during the same period. (See
figure 1).










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The rice of peanuts also rose in 193h but not nearly so strikingly as
the price of peanut oil. The margin between the prices of the nuts and the oil
has therefore widened considerably since 1933. The-average farm price of pea-
nuts reached the low point of 1.5 cents per pound in 1932-33; in 1933-34 it
rose to 2.8 cents while in both 1934-35 and 1935-36 the average w"as 3.2 cents.
During the current season the price has varied between 3.3 cents in November
and 4.5 cents in April.

Several factors may be suggested to explain the increases in consump-
tion of peanut oil at higher prices that hav. occurred since 1934-35; short
domestic supplies of cottonseed'oil ndIT'lird, excise taxes placed on competing
foreign oils, and business recovery increasing the demand for fats and oils
in general. Payments under the Agricultural Adjustment Administration program
for diverting peanuts into manufacture for oil ,mrc also a factor raising the
price of peanuts.

Largely because of drought conditions production of lard was reduced
from an average of 2,472 million pounds in 1929-33 to 1,717 million pounds in
1934-36. Cottonseed oil dropped from 1,518 to 1,218 million pounds in the
same periods. (Soe FOS-1, March 1937.) Since, aside from butter, lard and
cottonseed oil arc by far the most im-ortant of the edible fats and oils con-
sumed in this country, it is readily understandable thr.t larger quantities of
peanut oil could be rbsorbnd at the higher prices for edible oils that ensued.
Production of soybean oil likewise increased, but not sufficiently to offset
the short supplies of cottonseed oil and lard.

Higher prices for domestic vegetable fats and c.ils *ere also doubtless
induced to some extent by the imposition of excise taxes by the Revenue Acts
of 1934 and 1936 on certain foreign oils and raw materials, notably on coconut
oil, palm oil and palm-kernel oil,sunflowcr, sesame, and rape oils. (See Bureau
Report, Fats and Oils and the Excise Taxes of 1936, July 1936.)

In order to raise the price of peanuts to growers the Agricultural Ad-
justment Administration, in the fall of 1934, inaugurated a program of payments
tc growers and millers for the diversion of peanuts from other regular channels
of trade into use as peanut oil. Under this program payments were made on
about 153 million pounds of peanuts at on average of $9.81 per ton (.45 cent
per pound). About 55 percent of the payments were made on the Runner type,
about 32 percent on the Spanish' variety, and 13 percent on the Virginia type.
The 1935 program, with changes in detail, continued the policy of diversion
payments. The 1935-36 payments were made on 73 million pounds, .t an average
of $8.35 per ton, 39 percent of the payments vere made n.- the Runner type, and
44 percent on the Spanish. l/ In 1936-37 the balk of the crushing has been
of the Runner type, partly because of an unusually heavy percentage of "con-
cealed damage" which lowered their value for shelling purposes without affect-
ing theircrashing value and partly because of the normally lo-or price paid
for Runners; no diversion pa.ymcnts were made.



lJ Information from the Agricultural Adjustment Administration.


FOS-4


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The better grades of peanuts and the bulk of the crop are still
utilized by the cleaners and shel..-.rs, and it seems probable that improvc-
ment in demand for peanuts for peanut butter, salting, and confectionery
purposes resulting from such business recoverr- as has occurred has accounted
for a portion of the rise in price of peanuts that has taken place. The
good dneand for protein feeds and therefore for peanut meal since 1934
has been a. further contributing factor favoring the crushing of peanuts.
Primarily, h-wever, it has been due, during the past season to higher
prices cf peanut oil. Normally higher oil prices are not reflected back
in corresp-adingly great increases in average farm price of peanuts since
the prrportinn of peanuts of crushing grade form a small part of the total
crop.


Table 4.- Peanuts: Acreage, yield per .cre, production, and
quantity crushed for oil, 1920-36

Nuts gathered Peanuts crushed, year
: __ beginning October
Year : : : As percent-
Acreage : Yild Produc- Tot : cf pro-
per acre tion i Total l ge f pro-
:__ :: : duction
:1.0,0 acres Lb. 1.000 Ib. : 1.000 lb. Percent

1920 : 1,181 712.5 3841,474 : 111,779 13.3
1921 : 1,214 b83.1 829,307 : 115,157 13.9
1922 : 1,005 630.0 653,114 31,627 5.0
1923 : 896 722.9 647,762 : 18,239 2.8
1924 : 1,259 644.9 811,955 : 68,335 8.4
1925 : 1,130 700.3 791,355 : 50,071 6.3
1926 : 1,032 736.2 759,715 : 35,006 4.6
1927 : 1,228 759.1 932,185 : 6,816 6.5
1928 : 1,372 681.4 934,860 : 56,o4s 6.0
1929 : ,4oo 693.5 970,932 : 120,764 12.4

1930 : 1,136 636.2 722,745 : 69,630 9.6
1931 : 1,469 721.4 1,059,745 : 51,464 4.9
1932 : 1,707 609.9 1,041,150 : 65,428 6.3
1933 : 1,46 659.1 967,620 45,000 4.7
1934 : 1,99 661.0 1,123,0 4 220,280 19.6
193 2 : 1,725 755.2 1,302,805 240,683 18.5
1936 2/ 1,736 749.2 1,300,540

l/ In-the-shell basis.
2/ Preliminary.

Compiled as follows:
Acreage, yield, and production of nuts, Burceu of Agricultural Economics.
Peanuts crushed, Bureau of thc Consus, flniLr.l and Veget.ble Fats and Oils.


FOS-4





FOS-4


- 10 -


Table 5.- Peanuts: Production in specified countries, and estimated total, 1930-31


Country 1930 i 1931 : 1932 i 1933 1934 : 1935 1936

Asia :Mil.b. Mil. lb.Mil.1b. Mil.lb. Mil.lb. Mil.lb. Mil.lb
China 7,948 7,052 4,958 6,054
British India : 6,196 5,080 6,713 7,459 4,218 5,058 6,279
IJethorland India : 548 468 533 531 494 475
Japanese Empire : 224 230 252 269 281
Philippine Islands : 9 10 10 9 8 7
Indo-China & French India: 36 30 39 32 38

Africa
Senegal :1,192 441 1,087 1,257 1,047
Other French Africa : 639 532 519 527 547
Nligeria : (328) (511) (602) (655) (784) 370 638
Gambia (16?) (150) (84) (151) (161) (101) 2/(114
Other Fritish Africa 3/ : 80 25 72 97 52
Othi.r Africa 4 : 341 260 297 292 302

United States 723 1,060 1,041 968 1,123 1,303 1,301

South America 5/' 16, 149 194 250 22? 272

Europe Spain 60 42 45 47 47

Estimated norld -
Excluding China :10,881 9,004 11,502 12,558 9,351
Including China : 20,507 16,403
1/ Includes Fr. Sudan and Ivory Coast, Uicer, Fr. Cameroon, Fr. Equatorial Africa,
Dahomuy, Fr. Guinea, IHauritania, Togo, and Madagascar. 2/ Trade source.
3/ Includes Tonganyika, Union of So. Africa, Kenya, Sierra Leone, [Iuritus,
Ilyaslarind, and lio. and So. Rhodcsia.
4/ Includes Belgian Congo, Mozarmbique, Portuguese Guinea, Eg:,pt, Anglo-Egyptian
Sudsn, Lritren, Italian Comaliland, and Angola.
5/ CropE planted in Sep t-,rber-llovumber of thu your sho-L; harvested in February-
April of the follo.inr- year.
Cornmiled fran official sources and Internitional Institute of Agriculture.
Figures in parenthesis ar, exportss ; production data not available. Interpolations
included in total.

Foreign unili daonestic production of pkanuts

Penuts ar. among t;Lh must important of t..e world's crops of oilseeds and
nuts. A il a'rg p:;rt of the urrld production of 15 to 20 billion pounds is con-
siumod as oil, for thlt United States iS. n exception in using the greater propor-
tion -is nuts. India, witn crops rangiinc from 4 to 7 billion pounds, is the largest
comrerc! .l jroduc,.r, for -ilth-'ougL itn recent years production in China has been
estiinated t, bu n'.arly, as largi, or larger, India is thu larger exporter. Africa,
another important produciHin and exporting recion, raises from 2 to 3 billion
pounds. Ft w peanuts rar. grown in Europu annd production in South America, although
incro.sing, has bee.n less tlhan 3001 million pounds. The United States, therefore,
with a crop uvLraGing nouru than j billion pounds ranks ns the fourth peanut-
Prowing rug:ion of thu 'ourid. (S,-u table 5.)









PEANUTS: ACREAGE AND PRODUCTION OF NUTS GATHERED.
BY SECTIONS, UNITED STATES, 1924 TO DATE
POUNDS
THOUSANDS) NUTS GATHERED

800

SOUTHEAST S.C.. Ga.,
Fla., Ala., Miss. I

600

Va., N. C., and
Tenn.

400



SOUTHWEST: Ark.,
200 La., Okla., Texas


d ...do- 4I
SI I I I I
ACRES
(THOUSANDS) ACREAGE HARVESTED FOR NUTS


1.000

SOUTHEAST

800



600
Va.. N. G., and
Tenn.
400


SOUTHWEST 00 ... of d
200 \-_- --



0 I
1924 1926 1928 1930 1932 1934 1936
U S DEPARTMENT OF AGRICULTURE NEG 32441 BUREAU OF AGRICULTURAL ECONOMICS


FIGURE 2







- 12 -


Production of peanucs gathered in the United States has been in-
creasing fairly steadily since the post-war low point of 633 million pounds
in 1922. In 1935 and 1936 more than 1,300 million pounds were harvested
each year for nuts. Above average yields in the Southeastern States in the
past 3 years, as well as increased acrange hnrvasted for nuts, contributed
to the large crops. Most of the increase has occurred in the Southeast,
where Spanish and Runners, the best oil yielding varieties, are grown.
Acrc.ge and production have remained fairly constant in the Virginia area;
the Virginia variety is the poorest for crushing. It is evident, therefore,
that production of oil-yielding nuts has increased both absolutely and
proportionately.

Trade in peanuts and peanut oil

After importing an annual average of 74 million pounds of peanut
oil in 1916-20, the United States was a minor importer of peanut oil in
the period 1925-29, averaging only about 4-1/2 million pounds; neverthe-
less, this country was a fairly large importer of peanuts, ranking sixth
in this respect among the leading importing countries. (See table 6.)
Unlike other importing countries, the United States has not, it is believed,
crushed for oil the imported peanuts, which come chiefly from China, Kwantung,
and Japan. Imports in 1929 dropped to 45 million pounds after a 1924-28
average of 87 million; in 1930-31 imports averaged 12 million pounds, and from
1932 to 1936 annual imports of peanuts remained less than a million pounds
per year, with exports exceeding imports by small amounts in 1932 and 1933.

Decreasing United States trade in peanuts has doubtless been due
partly to changes in tariff rates, and partly to the general decline in
trade coincident with the depression. In 1929 the duty on unshelled peanuts
was raised by Presidential Proclamation from 3 to 4-1/4 cents per pound and
on shelled from 4 to 6 cents. The Tariff Act of 1930 further increased the
rate on shelled peanuts to 7 cents per pound.

No tariff changes have been made in the duty on peanut oil since a
rate of 4 cents per pound was imposed in 1922 (the rate of 26 cents per
gallon, or 3-7/15 cents per pound, was in effect in 1921). Imports of pea-
nut oil declined less markedly after 1929 and 1930 than did imports of
Tpecanuts; in fr.ct, imports from Chine -7ere unusually large in 1930 and 1931,
r.nd although nuch of the :il -7as reexpcrted, net imports in 1930 were nearly
S million pounds. After the large nar-period imports that had amounted to
as nuch as 150 million pounds in 1919, net imports of peanut oil averaged
4 million pounds in 1922-31. There -w.s small net export in 1932, but
nat imports of around 2 million pounds in 1933 and 1934. The increase in
imports to 81 million pounds in the calendar year 1935 and 49 million pounds
in 1936 was therefore striking. These large imports of peanut nil accompany-
ing th: increased production from domestic materials helped to provide the
supplies for the greatly expanded use of peanut oil that has continued since
1934-35.


FOS-4





- 13 -


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- 15 -


Table 7.- Price ner nound of selected fats and oils,
April and May, 1936 and 1937


Fat or oil


A


:Ce

Butter, 92u, New York
Oleomargarine, nut, Chicago
Lard, prime steam, Chicago
Lard, refined, Chicago
Lard compounds, Chicago
Coconut oil, edible, 1lew York
Cottonseed oil, crude, f.o.b.
S. E. mills
Cottonseed oil, p.s.y., Now York
Soybean oil, refined, New York
Peanut oil,domestic refined, New York
Rape oil, refined, New York
Oleo oil, ITo. 1, New York
Oleostearine, barrels, H c, York

Corn oil, refined, eow York
Olive oil, edible, New'7 York
Sesame oil, refined, New York
Sunflower oil, refined, Uew York
Teaseed oil, crude, H1ew York

Coconut oil, crude, Pacific Coast
Tallow, inedible, Chicago
Grease, house, Hew York
Palm oil, crude, 1.w York
Olive oil foots,barrels, Ilew York
Palm-kernel oil, deratalred, Hew Yo-rk
Babassu oil, tanks, Hew York 1/
Sardine oil, tanks, Pacific Coast

Linseed oil, raw, LIinneapolis
Tun; oil, drums, New York
Perilla oil, drums, New York
Soybean oil, crude, f.o.b. mills
Menhaden oil, cr- de, f.o.b. Baltimore
Hempseed oil, crude, New York

Castor oil, 1Io. 3, flew York
Cod oil, barrels, Newfoundland


1936

6pr. May

,nts Cents

31.0 27.5 :
11.7 11.1 :
11.0 10.4
11.9 11.1 :
11.8 11.2 :
6.7 5.8

8.4 7.6
9.4 8.8
9.2 8.8
12.4 12.2
7.2 7.0
11.0 10.1 :
8.1 7.6

11.1 11.0
22.7 22.7
10.2 10.0
9.9 9.8
8.8 8.3

4.2 3.8
4.8 4.0
4.8 3.8
4.6 4.4
8.1 8.1
4.9n 4.9n
7.0
4.2n 4.On

9.2 9.0
19.2 18.7
7.4 7.4
6.8 6.3
4.5n 4.3
8.4 8.4

10.2 10.2 :
5.3n 5.3n
*


137
May


Apr.

Cents

32.9
14.0
11.5
12.6
13.7
10. 5

9.5n
10.6
12.4
13.5n
12.2
13.1
10.2

12.9
33.3n
10.On
12.2n
10.5


7.9
8.6
8.?
7.0
11. 6n
7.1
10.8
7.2

10.8
15.3
11.9
9.8
6.0


Cents


32.3
13.9
11.9
12.9
13.2
9.2

8.9

12.3
13.2n
12.5
12.5
9.6

12.4
32. 5n
9.4

10.1


10.9
13.8
11.5
9.0
5.6


10.2 10.2
6.9n 6.9n


i/ Beginning February 1937, prices arc futures.


7OS-4


---


19





FOS-4


19


1937 1/
.


Item


Oleo oil
L-rd, ncutrnl
Oleostaerine
Oleo stock

Cottonseed oil
Peanut oil
Soybean oil
Corn oil

Coconut oil
Bibissu oil
Palm oil
Palm-kernel oil
Sesame oil


Total fats Pnd oils


Milk i
Other miscellaneous


Grand total


Itarch

S1000 lb.

1,270
S 208
S 278
S 194

8,818
S 401
S 290
S 99

13,289
2,856
S 177

*: 9


27,889


6,622


: 6,622
: 1,873


: 36,384


36*

April : March

1,000 lb. : 1,000 b.

1,30 : 1,558
184 : 182
292 238
136 : 160

8,547 :14,644
223 : 321
378 : 3,863
291 : 148

12,334 : 5,197
2,864 2,354
63 : 214
71 : 960
5


2/26,700 : 29,839


6,529
1,832


6,774
1,631


35,061 38,244


Prolimin. 'rj.
Includes 9,000 counds of ranc oil.


Compiled and computed front reports of the Commissioner of Internal Revenue.


01eorar ..arine
There has been no significant chrnec in the oleomargarine situation
since last month, total fats and oils used in manufacture being only
slightly lower .nd the- percentplcs contributed by Pnirnrl fits, domestic
vc-et-blc oils yr.d iranort:.d ve-etnble oils :.nintnini n bout the snme
relative position as last r.-nth.

oonsur) tion of coconut oil droored off million pounds but consumption
of bn.bssu -n.n' orl I-kernel oils incre-sed by bout this amount.


UNIVERSITY OF FLORIDA
I I Ill IIIIIIHIIUllllllllll llllllli I ll
3 1262 08904 2294

Table 8.- Oleomargarine: materialss used ih manufacture, "
United States, l:arch nnd Anril, 1936 and 1937


April

1.000 lb.


1,359
173
279
158

14,789
395
2,752
64

4,096
3,032
164
1,136
-


28,397


6,359
1,611


36,367


~


I


I