The Fats and oils situation

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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_00004
Classification:
lcc - HD9490.U5 A33
ddc - 380.1/41385/0973
System ID:
AA00005305:00004

Related Items

Succeeded by:
Fats and oils outlook & situation

Full Text





UNITED STATES DEPARTMENTT OF AGRICULTURE
w.. : ft ~U~JEAU OF AGRICULTURAL ECONOMIcS
WASH I NGTON


MAY 17, 1938.


FOS
I.:: .... ..






E"r
:. "" m


,i,.; ....


Other A
Soybean
Fish
Perilla -
Tung A
Linseed


1WJI ,1Cu 1,,] 1i 19 ; 13JO 1 31
ASINGB DMFINO OILS ARE USED DIRECTLY 4A WELL AS IN FACTORY CONSUMPTION. THESE FIGURES
REPRESENT TOTAL DOMESTIC DISAPPEARANCE EXCLUDING THE SMALL QUANTITIES REPORTED BY THE
BUREAU OF THE CENSUS AS USED IN SOAP. SHORTENINGS. AND MISCELLANEOUS PRODUCTS
UL. DEPCRTINT OF AGRICULTURE REG. 11740 BUREAU OF AGRICULTURAL ECONOMICS


------------------------- ------a--

TH .E F. A T S A N D O I L S S I TU A T I 0 N
--- ----------------------------------------------




CONSUMPTION OF OILS BY THE DRYING INDU TRIES
IN THE UNITED STATES. 1931 -37 U S. DEPOSITOR


-13


POUNDS
I MILLIONS)




800





700





600





500





400





300




200





100




0 *







Table 1.- Price per pound of specified fats and oils, average January- March,
monthly March and April, 1937 and 1938

: 1937 : 1938
n + e% w :Avprage: :Average :


Domestic prices
Butter, 92 score, N. Y.
Oleomargarine, domestic vegetable:
Chicago
Lard, prime steam, Chicago
Lard, refined, Chicago
Lard compounds, Chicago
Coconut oil, edible, N. Y.
Cottonseed oil, crude, f.o.b.
S. E. mills
Cottonseed oil, p.s.y., N. Y.
Soybean nil, refined, N. Y.
Peanut oil,domestic,refined, N.Y.:
Rape oil, refined, N. Y.
Sleo oil, No. 1, N. Y.
Oleasterine, barrels, N. Y.


Corn oil, refined, N. Y.
live oil, edible, N. Y.
Sunflower oil, refined, N.
Teaseed oil, crude, N. Y.


Coconut oil, crude, Pacific Coast:
Tallow, inedible, Chicago
Grease, house, N. Y.
Palm oil, crude, N. Y.
Olive oil foots, barrels, II. Y.
Palm-kernel oil, denatured, N.Y. :
Babassu oil, tanks,N.Y.(futures) :
Sardine oil, tanks, Pacific Coast:

Linseed oil, raw, Minneapolis
Ting oil, drums, Atlantic Coast
Perilla oil, drums, N. Y.
Soybean oil, crude, f.o.b. mills
Menhaden oil, crude, f.o.b. Balto:


Foreign prices 1/
Cotton oil, crude, naked, Hull
Copra, Resecada, Philippines
ralm-kernel oil, crude, Hull
Whale oil,crude,No.l,Rotterdam
Tallow, beef,fair-fine, Londcn
Linseed oil, naked, Hull


:Jan. -


r~u vr ~rs


*


:Mar. : Apr.
I _____ _____ _


*
:
*
*


Mar.
Cents

34.8

16.5
12.8
13.5
13.7
11.3

10.1
11.2
12.2
13.5n
11.5
13.9
10.9

12.9
31.ln
12.4n
14.5

8.6n
8.2
8.7
6.8
11.
7.C
11.2
6.8

9.9
15.1
11.6
9.8
5.2


6.6
4.5
7.5
5.3
6.4
6.1


Converted to U.S. cents per pound at current monthly
Preliminary. Average for 3 woeks.


rates of exchange.


Mar. : Apr. :Jan. -
: : Mar.
Cents Cents : Cents

35.6 32.9 : 31.7

16.6 16.5 15.2
12.5 11.6 : 8.6
13.2 12.6 : 10.2
13.7 13.7 : 10.2
11.0 10.5 : 6.2

9.9 9.5n : 6.6
11.1 10.6 : 7.8
12.2 12.4 : 9.0
13.5n 13.5n : 10.ln
11.7 12.2 : 12.1
13.4 13.1 : 9.5
10.3 10.2 : 7.5

13.0 12.9 : 9.7
33.3n 33.3n : 28.4
12.2n 12.2n : ---
14.0n 10.5 : S.6

8.6n 7.9 : 3.7
F.9 8.6 : 5.2
.a 8.7 : 4.9
6.6 7.0 : 4.2
12.On 11.6n : 9.1
7.4 7.1 : 4.2
11.4 10.8 : 6.s
7.2 7.2 : 5.9

10.0 10.8 : 9.8
15.4 15.3 : 14.7
11.6 11.9 11.0
9.S 9.8 6.1
5.7 6.On : 5.On


6.5 6. : 4.2
4.4 3.9 : 1.7
7.2 6.6 : 4.6
5.0 5.0 3.5
6.2 6.1 .6
6.3 6.5 : 6.2


Cents

30.3

15.1
8.gn
10.0
10.2
6.1

7.On
8.2
9.2
10.2n
12.0
9.2
7,6

10.2
26.0

8.4

3.6
5.0
4.6
4.1
8.9
4.1
6.7
6.2

9.6
13.3
10. b
6.4
4.9n


4.2
2j1.6
4.3
.1
5
6.0


FOS-15


- 2 -


Cents

27.7

15.5
8.2n
9.4
10.3
5.7

6.9

8.8
10.1
11.6
8.9
6.7

9.7
25.7

7.6

3.1
4.6
4.0
3.5
8.6
4.0
6.4
5.4

9.3
12.5
10.6
5.9
4.7


3.8

4.2


5.6


:*
:*
:*
:*


*
:*
:*
*

:*
*
:*






FOS-15 -3 -

THE DRY ING OILS SITUATION

BACKGROUND.- Consumption of fats and oils in the drying industries
(paints and varnishes, linoleum, oilcloth, and printing inks) has
increased steadily from a post-World War low of 475 million pounds
in 1932 to 834 million pounds in 1937, concurrently with increased
building activity. From 1932 to 1936 the use of linseed oil, while
gaining steadily in absolute volume, decreased proportionately from
77 percent of the total consumption in 1932 to 61 percent in 1936.
The percentages contributed by tung, fish, and soybean oils were ap-
proximately steady, the drop in the proportion of linseed oil being
balanced by sharply increased use of perilla oil and small additions
of such'minor cils as hempseed, oiticica, and castor. The excise
tax of 4-1/2 cents per pound on perilla and hempseed oilc and 2
cents per pound on the seeds effective August 21, 1936, and the
consequent decreased imports together with increased.demands for
drying oils led to sharp declines in the use of these two oils and
increases in the use of linseed, tung, fish, castor,.and oiticica
oils in 1937, linseed oil contributing 69 percent of the total.
(See FOS No. 3, May 1937, and No. 8, October 1937, for more detailed
discussion.)

General situation

Although the estimated consumption of oils in the drying industries was

7 percent more in the calendar year 1937 than in 1936, a more-than-seasonal de-

crease in consumption occurred during the last half of the year. Estimated con-

sumption in the first quarter of 1938 was more than one-third less than in the

corresponding quarter of last year. (See table 2.)

As a result of decreased utilization, stocks of the three major drying

tils, namely, linseed, tung, and perilla, were larger at the close of the first

quarter of 1938 than on any reported date in the past 10 years. On March 31

stocks amounted to more than 298 million pounds compared with almost 183 million

a year earlier and 198 million pounds on the corresponding date of 1932.(See tabl5)

Imports during the first quarter of 1938 showed a decided downward trend
except in the case of perilla oil. (See table 4.)

Prices of all drying oils averaged lower in April than in January, and also
lower than they were in April 1937. Raw linseed oil at Minneapolis averaged 9.3
cents per pound in April, compared with 10 cents per pound in January and with
10.8 cents in April last year. Most of the other oils showed similar decreases
except crude soybean oil, f.o.b. mills, which averaged 5.9 cents per pound in April,
compared with 5.8 cents in January and 9.8 cents per pound in April 1937.







FOS-15


Table 2.-


Estimated consumption of fats and oils in the drying
industries in the United States, 1931-38


:Prilla: Fish
Year :Linseed. Tung Perilla Fish .oybean. Other : Total
:oil 1/ :oil j :oil 1/ oil : oil 2/
:Mil. lb.Mil. lb Mil. b Mil. lb Mil. lb Mil. lb Mil. lb

Average -
1931-33 : 400 9 16 23 12 4 544
1934-36 : 450 123 63 40 16 11 703

1931 : 471 90 11 27 9 3 611
1932: 354 74 11 20 12 4 475
1933 376 102 25 22 14 5 544
1934 : 409 117 24 25 13 7 595
1535 : 465 129 60 32 18 8 712
1936 : 476 121 105 40 17 IS 777
1937 : 571 151 39 W4 17 12 834

1937 Jan.-Mar. 31: (132) (37) (12) (13) (5) (3) (202)

1938 Jan.-Mar. 3]: (91) (24) (E) (6) (3) (2) (134)



The drying industries include paint and varnish, linoleum, oilcloth, and
printing ink. During the past 6 years the paint and varnish industry
has used an average of about '7 percent of the total.

I/ Since drying oils are used directly as we'll as in factory consumption,
these figures represent total domestic disappearance excluding small
quantities reported by Bureau of the Census as used in soap,
shortenings, and miscellaneous products.

2/ Includes fActory consumption of castor and miscellaneous oils, in
1931-33. In 1934, 3,000,000 pounds each castor and sunflower oils,
and 1,000,000 pounds miscellaneous oils. In 1935, 4,000,000 pounds
castor oil, 2,000,000 pounds oiticica oil, and 2,000,000 pounds mis-
cellaneous oils. In 1336, 5,000,000 pounds castor oil, 2,000,000
pounds oiticica oil, and 11,000,000 pounds miscellaneius oils,
probably largely hempse-d. In 1937, G,000,010 pounds castor oil,
1,000,000 pounds coconut oil, and 3,000,000 pounds miscellaneous
oils, probably mostly oititica and h mpseed oils.

3j These data are rough estimates basod largely on the relation of con-
sumption in drying industries to total disappearance in 1937.


- 4 -






Fos-15 5-

Linseed oil

The actual consumption if linseed iil. consumed by thc drying industries
increased in each calendar yesr frn- 1953- ti 1936 alth-.uth it constituted a
steadily decreasing percentage 'f the total utilization of :,ils in the drying
industries. In 1937, .ryinP use *ained ldt'. in; vI.lute and pr'porti-n, the
571 million pounds being 9 percent nf the total.' C.nsunption -f linseed oil,
as well as of other drying iils, iroppel rmre.than seasonally in the second.
half of 1937, and the downward-trend continued in the first auarter of 1933.
Apparent disappearance from January thr.iugh March 1933 was 94 million pounds
compared with 136 million in tn-: sne period in 1937 ani '91 million pounds in
1936.

Production of linseel oil in the calendar ;y.er 1937 frr d-onestic nnd
imported seed was 74 million pouns r.mre th.n consumn-ti-n. This difference
is represented in the Januaryj 1, 1933, stocks of 1.1 million pnun's. Stocks
had increased to 223 million pounds as if March .3, 1953 cni-pred with 133
million pounds a year earlier.

Prospective plantin.gs of 1,112,00) acres of finxso'ed in tne United
States indicate that acreage 'ill be -" ut 14 percent und.:er 1937. Crus:Aings
of flaxseed in the first three oup.rters -f ti-e l'V -37 'e-son amounted to
22 million bushels, c-irpare-d with. ?i mil'i.i bushels. in the corresponding
months of the 1936-37 7ceson.

Teble 3.- Per:znt:u-e con.m rpti-n -f fats and :,ils in the drying
industries in the Unittd States, 1331-33

Linseed: Tung :Perilla: Fish :Soybean:
Year : oil oil i o O il : il Other: Total

:Percurt Percent Pcrctnt Percent Percent Parcent Percent
Average -
1931-33 : 73 17 3 4 3 100
1934-36 64 17 9 2 2 t100

1931 : 77 15 2 4 2 1 1!00
1932 75 1o 2 1 3 100
1933 : 69 19 5 4 3 / 100
1934 69 20 4 4 2 1 100
1935 65 13 8 5 3 1 100
1936 6L 16 14 5 2 2 100
1937 : 69 13 5. 5 2 1 100
1537- Jan.-Mar. : (65) (I5) (C) (6) (3) (2) (too)
193s Jan.-Mar. : (G) (il) () (4) (2) (2) (100)


The drying industries include paint an. varnish, lin!leur- oilcloth, and
printing ink. During the past 6 years pni:nt and varnish has averaged about
87 percent of the tOtal.
J/ Less than 1 percent.





FOS-15


Table 4.-Specified drying oils: Production, net imports, stocks, and
apparent disappearance, annualr 1935-37, and January-March, 1936-38

(Net exports are indicated by a minus sign)
: Annual Jan.-Mar.
Item : : : 1937 : : 1937 : 1938
: _: : i/ : : l : 1/
:Mil. lb. Mil. lb. Mil. lb.:Mil. lb. Mil. lb. Mil. lb.
Linseed oil-
Production 2/ :502.0 456.0 665.1 : 132.1 156.9 125.6
Net imports 1.2 0.2 0.6 : 0.2 0.2 0.1
Stocks, end of period :146.5 117.3 191.4 : 187.4 137.5 223.1
Apparent disappearance :470.5 485.0 590.4 : 91.0 136.5 93.8

Tung oil-
Production 3/
Net imports 120.1 134.8 174.9 : 42.1 44.8 28.0
Stocks, end of period 19.0 29.0 48.5 : 35.2 35.2 51.4
Apparent disappearance : 132.5 124.9 155.4 : 25.9 38.6 25.1

Perilla oil-
Production 4/ : 1.0 1.4 --- : 0.8 -- --
Net imports 72.3 117.9 43.6 : 30.7 2.2 8.4
Stocks, end of period 12.9 19.8 23.7 : 2.3 10.2 24.0
Apparent disappearance : 64.3 112.4 39.7 : 21.1 11.8 8.1

Hempseed oil-
Production 17.1 13.7 --- : 6.4 --
lfet imports : 0.3 --- --- -- ---
Stocks, end of period :5/ (8.0) 2.0 --- : 8.2 0.8
Apparent disappearance :T/ (9.4)6/(19.7) 2.0 : 6.4 1.3

Oiticica oil-
Net imports --- 2.9 3.6 : --- 0.9 0.3


Total disappearance 676.7 744.9 791.1 : 144.4 189.1 127.3


Preliminary.
From domestic and imported material.
Reported with "other oils".
Production is oil equivalent of imported seed.
Estimate based on stocks reported for Mar. 31, 1936.
Estimated.


Leaders (---) indicate less than 500,000 pounds or not separately reported.


- 6 -






FOS-15


Imports of tung oil in 1937 were the largest on record, exceeding
those of 1936 by 40 million pounds. Consumption rose 31 million pounds,
being stimulated by shortage of perilla oil and generally improved demand.
Stocks were 20 million pounds larger at the end of the year.

In the first quarter of this year imports, amounting to 28 million
pounds, were materially below the corresponding period of both 1937 and
1936, reflecting the influence of larger stocks and sharply decreased
disappearance. (See tables' 4 and 5.) Tung oil imports into the United
States are free of duty and excise tax.

Average prices of tung oil rose sharply to above 21 cents per pound
in September and October 1937 as a result of uncertainty in the oriental
situation. Shipments since have been more than adequate to care for dom-
estic needs, and stocks are considerably above average at the present time.
The market price has correspondingly dropped and in March averaged only
3.5 cents higher than raw linseed oil .in the New York market. Stocks on
March 31'were 51 million pounds compared with 35 million pounds on the same
date in 1957,

Exports of tung oil from China have been increasing in recent years,
as follows: 144 million pounds in 1934, 163 in 1935, 191 in 1936, and 241
million ii 1937. Fully 95 percent of China's production of tung oil is
from the area of China under Chinese control, but the volume- of exports
during the next few months is uncertain.

This year's domestic tung nut crop will be in the neighborhood of
20 million pounds, the Department of Commerce estimates. A crop of this
size would yield about 4 million pounds of oil,.which is less than 3 percent
of domestic consumption in 1937.

Perilla oil

Perilla oil was a minor competitor of linseed oil in the drying oil
field before imports and consumption of. perilla oil rose to significantly
high levels in 1935 and 1936. Imports .were first reported in 1913 and were
less than '10 million pounds in any year. prior to 1931.


Perilla oil has been and is free of import duty, but an import duty
of 20 cents per bushel of 56 pounds was placed on perilla seed under the
1913 Tariff Act and removed in 1922. Under the Revenue Act of 1936, im-
ported perilla oil is subject to an excise tax of 4-1/2 cents per pound and
perilla seed 2 cents per pound. This rate on seed is equivalent to about
5.4 cents per pound on the average oil equivalent of the seed (using a
conversion factor of .37). Under the present rates only negligible imports
of seed may be expected in view of the differential. A change in the rate
to 1.38 cents per pound on the 'seed, as proposed in the Senate amendment to
the 1938 Revenue Act now pending in Congress would reduce the rate to
approximately 3.7 cents on the oil equivalent, which is 0.8 cent below the
rate on the oil, and this is believed to be sufficient differential to
encourage imports of seed and discourage imports of oil under present price
and demand conditions in the domestic market.


- 7 -






FOS-15


Table 5.-Stocks of specified drying oils, United
States, by quarters, 1929, 1932-38


: Linseed
Date oil
:Mil. lb.
1929
Mar. 31 : 181.9
June 30 : 123.5
Sept. 30 103.2
Dec. 31 : 140.9

1932
Mar. 31 166.5
June 30 117.0
Sept. 30 97.5
Dec. 31 121.8

1933
Mar. 31 140.5
June 30 86.5
Sept. 30 99.6
Dec. 31 157.7

1934
Mar. 31 : 160.8
June 30 128.4
Sept. 30 : 109.4
Dec. 31 : 113.7

1935
Mar. 31 125.4
June 30 104.9
Sept. 30 106.3
Dec. 31 146.5

1936
Mar. 31 187.4
June 30 : 140.8
Sept. 30 : 99.7
Dec. 31 : 117.3

1937
Mar. 31 : 137.5
June 30 : 142.4
Sept. 30 : 142.8
Dec. 31 191.4

1938
Mar. 31 : 223.1


1/ Crude and refined


: P
: I
NM


converted to


Compiled from
and Oils.


Bureau of the Census, Animal and Vegetable Fats


:Tung oil
Mil. lb.

24.6
18.6
29.4
29.4


27.3
29.3
30.8
30.9


36.6
29.2
34.4
41.0


36.
26.7
23.7
31.5


21.4
12.9
19.4
19.0


35.2
38.5
444.8
29.0


55.2
43.6
58.9
48.5


51.4


'erilla : Total Soybean
oil Totl oil 1/
.1. lb. Mil. lb. :Mil. lb.

--- 206.5 9.5
--- 142.1 :12.0
132.6 :11.7
--- 170.3 :15.6


4.6 198.4 :23.9
6.2 152.5 : 23.0
6.7 135.0 :16.7
6.1 158.8 :16.6


4.4 181.5 : 16.9
5.2 120.9 : 11.4
5.6 139.6 :10.9
2.7 202.2 : 13.5


4.8 201.8 15.9
10.9 166.0 16.6
7.0 140.1 14.9
3.8 149.0 19.0


6.3 153.1 :17.8
18.3 136.1 : 22.8
22.8 149.5 :14.2
12.9 178.4 : 31.1


23.3 245.9 :49.2
33.7 213.0 :57.6
38.7 183.2 : 9.2
19.8 166.1 : 34.4


10.2 182.9 : 40.6
14.4 200.4 : 48.1
19.3 220.0 : 36.0
23.7 263.6 :62.5


24.0 298.5 80.5


crude, using 0.94.


- 8 -






FOS-15


Annual imports of perilla oil amounted to less than 10 million
pounds until 1931, then rose steadily to a peak of 118 million pounds in
1936. All of the imports in this latter year came in prior to August 21,
the effective date of the excise taxes.

An advance in average market price, at New York, in February 1937,
compared with prices from January through June 1936, brought a small volume
of imports, the first under the excise tax. Maintenance of prices at around
February 1937 or higher levels in the remainder of the year resulted in
imports of 44 million pounds, a larger amount than imported in any year
prior to 1935. In the last quarter of 1937 consumption fell off sharply
to less than 2 million pounds as a result of a rise in price and decreased
demand. Stocks had risen to 24 million pounds by December 31, 1937, and
were still at this volume at the end of March.

Low prices of soybean oil are favorable for the use of perilla oil
since they are used in combination.

Imports of perilla seed were reported with sesame seed from 1922
to 1930 and are believed to have bcen very small. In 1931-32 no imports
of perilla seed were reported. Imports rose from 292,000 pounds (oil
equivalent) in 1933 to 1,380,000 pounds in 1936, which is very small in
proportion to imports of pcrilla oil in the same period. Only 74,000
pounds of perilla seed (oil equivalent) were imported in 1937 since the
existing taxes strongly discourage seed imports.

According to trade estimates, the world crop of perilla seed in
1937 was about 30 percent below that of the preceding year.

Hempseed oil

Less than 500 pounds of hompseed oil have been imported for con-
sumption since the excise tax of 4-1/2 cents per pound (in addition to
the tariff rate of 1-1/2 cents per pound) bect-me effective in 1936. Small
amounts of hempseed have been imported, but none is believed to have been
crushed in view of the excise tax of 2 cents per pound, which is about 8.3
cents per pound on the oil equivalent. Imported hempseed is used largely
for birdseed.

Stocks of hempseed oil apparently have been exhaused since October
1937, and no significant use of this oil may be expected under existing
import restrictions.

Oiticica oil

Oiticica oil is one of the most recent additions to the supplies
of commercial drying oils. Imports were first reported in 1936. In 1937
they amounted to a little more thnn 3-1/2 million pounds or about 1 million
pounds larger than in 1936. The largest volume arrived in the last quarter
of 1937 in response to prices as high ns 17.6 cents per pound (New York) in
October. Prices have since steadily dropped and only 300,000 pounds were
imported in the first quarter of 1938. There is no import duty and no excise
tax on oiticica oil.


- 9 -








The potential supply if oiticic. oil in Brazil is said to be very
large. _/ Though considerable experience has been gained during the past
year in the use if Diticica oil as a substitute fLr tun.; oil, it is not yet
fully accepted as such. M1ay hold the view that unless there is ani adequate
proportion of tun: oil present, the durability and gener-..l cher.ical resistance
of the varnish is definitely impaired. Some authorities sui-est th.t there
should not be more than 3, percent of liticica oil to 70 prrcant tung oil in
any given varnish, but a considerably hig-her proportion can be used when deal-
ing with varnishes nade from the so-called 100 percent phenolic resins. 2/
The cinnercial development of the oil is under samL handicap owin.' t> such
physical .obstacles a.s uncertain labor conditions, transp>rtatin, etc., in
Brazil where the oil is nroducel.

Brazil placed two new oil-crushin.r plants in o)pr-.tion bring 1937 ad it is
reporte. that another is planned fir 193 7EUprts of oiticici oil from
Brazil were small in 1937 l.ece.use -f excessive rins and por crop conditions.j/
Reports indicate that this year's crop is in excellent cnditin and the out-
look is f.r substantial exports in 193L-39.

Fish oils

In 1937 the use of refined fish oil by the drying industry amounted to
or slightly larger volunre than in either 1935 or 1936. But, in relation to
total drying )ils used, the share contributed by fish oils wns -bout the sane -
5 percent.

Menhaden and sarin.. oils are the fish oils mst use.. Inassmch as
fish -.il films have elasticity as well is adhesion, eurr.bility, and wetting
properties, it sons probable that the technique of refining and handling
then will be still further developed. Refining methods now used make
the odor much less objectionable thp.a formerly.

In view of the upturn in market prices of fish oils in the first
quarter of 193l, at the same time that prices of linseed, tunz, perilla,
and oiticice oils have been dropping, it is probable that purchases of fish
oils by the drying industry have not been large. Unless current price
trends are reverse, there seems to bc no reason to expect consumption of fish
oils by the drying industries to uxc-ed the 1937 proportion of total utili-
zation.

S ybean oil

As in 1936, a',:uat 17 million p-inds -f soytenan ,il were utilized by
the drying industries in 1937. This aimunte- tj 2 percent of the total con-
sumption of dryin, -ils used. In vie,; f rc.luced use if perilla oil and de-
creased demand for drying oils in generall, c)nsunption .f soybean oil by
the drying industries nay be nmterially 1)wer in 1953.

L/ Hausnan, M. J. Anerican Ink Maker, 15:16-15, January 1937.
2/ 3il and Slop, 15:45-6c, February 1935.
j] Oil, Paint, and Drug Reporter, 153:37, Feb. 2'., 193-.


FOS-15


- 10 -




FOS-15


- 11 -


Castor oil

"Synourine", made from castir oil, is being increasingly used in
the drying industry, consumption rising fr.o 2 million pounds in 1933 to
8 million in 1937. More than 13 percent of all castor oil used in this
country was utilized by the drying industry. Since "syn-urine" ?il is used
chiefly as substitute for tmun oil, and thi c)st of preparation is high,
comparatively small am-unts probably will be used in the dryin. industries
as long as supplies if tung oil are available at relatively low prices.

The excise taxes 'of 13

The excise tax of 4-1/2 cents on henpseed and perill- oils and 2
cents on hempseed and perill. seud, effective August 21, 1936, was in
addition ti import duty if 1-1/2 cents per piund on hempseed oil, the -ther
items being on the free list. (S,-e F)S-3, table 12.)

The effect of the excise tax hes been t e-lininate pll but very small
imports of hempseed oil and perill. se'., to eliminate i ll inip-.rts -f hemp-
seed except small qui-tities vhich are still io-.rtec. for purposes believed
to be other than crushinE, a.nd t. disco. r~.r .j imnirtn of perilla oil, which,
however, have remained at higher levels thin pri r to 1935. For other drying
oils, the effect has been t. enc urs-e imports of tuna .oil, ;iticica oil,
and flaxseed, upon which no excise taxes wcre inmiosd, ,nd t stimulate
utilization of fish -.ndl cattor- oils in the i'ryin- industry.

Proposals to reduce excise taxes .n dryin.: oil seeds

H.R. 9632, the 13~< Revenue Bill, which has b=en paeoed by the Senate
and the House includes a provision reducin; the rat' if excise tax on
imported herpseed, perilla seed, and sespne seed frrm. 2 cents per pound to
the f allowing:

Henpseed, 1.24 cents per pound.
Perilla seed, 1.30 cents per pound.
Sesam.e seed, 1.lt cents per pound

Tie rates :.n rapeseed anc. k; .n seed were left unchanged at 2 cents
per pound.

On May 16 the bill wcs read; to be sent t) the President f'r signature.

The proposed reduction would ch-nge the rate on the oil equivalent of
perilla seed frmn -bout 5.14 cents to about 3.7 cents per pound, and of henp-
seed from about 8.3 cents to ab:ut 5.2 cents per pound. This would nake the
rate on the oil equivolant of both se.eds a proximately 0.3 cent lower than
the rate on the corresponding oils including : the tariff rate on hempseed oil)
which compares with a difference if about 1 cent per pound in the case nf lin-
seed oil and flaxseed. The effect of this reduction would b'e to encourage in-
ports of the oilseeds and discourP.-e imp-rtr of the oils, the exact effect
being dependent upon consideration of price, cost of shipping, crushing, etc.,
at a specific time. The immediate effect under present circumstances would
probably be nil as far as henpseed end hacpseed oil are concerned, but
would encourage imports -f perilla seed.






FOS-15


- 12 -


Some of the less well known dry-ing 'ile which are receiving attention
as pissitly worthy if further development arP chip seerd -il; petroleum-type
drying ils; rapeseed oil; walnut )il; tibacco-seed ill; lun lanr ind soft
lumb--ng oil from the Philippine and Hawaiian IslPmns; raisin seed oil, and
saf-flower oil.

Plastic ani cold water paints

Casein, resins, and other nan-oil nateri-ls have b.en given wide
publicity as fat and oil conservers. This is particularly true in Germany,
where research has been extensive.

According t- the Bureau .f the Census, producti-.n of water paints,
calcinines and plastic paints, dry -r paste, Ly 53 identical manufacturers
gained. nly fr3 137 million pounds in 1931 to 142 million in 1935, and had
dropped to 12 milli:.n pounds in 1937. Crlcinines accounted for 79 million
pounds of the 1937 total.


Table 6.- Specifie- dryin'r (an. se..i-dlrying) )ils and oilseeds: Imports
fjr c3nsuUpti)n, 1933-33


Linseed Flax-
Date : o : see :
)il seed


1933
1934
1935
1-335r


1, 000
lb.

9,375
2, 721
2,232


1` 36 / :
Jan. l-Aui.2;. :'
Aug. 2i-Dec. 31:

1937 :
Jan. Mnr.
Apr. June
July Sept.
Oct. Dec.
n93 ar :
Jon. Mar.


1 0 '..,
bu.

13,325
14,170
17,5.0,


Henp-:H.npseed:Perilla

Ail :
1,Jc 1,0' 1, b.b.
Ib. lb. Ib.


ko
413
340


760 15,365


4:,2
51
200
53
rr'
-''-


4,53';
12, 5S1
116,632


1 62,o11
- 62,Gl4
- 96


25,032
, 950
3,6c4
5,325
5,153


50 4,719


477
202
20'
15


22,776
25,164
72,323

117,903
117,903



2,211
15.927
12,124
7,323


.. I ,421


PerillaI
seed


Tung :Citicica
oil oil
:


, 000 1,000 1,000
lb. Ib. lb.


733
2,11
2,733

3,742
3,742



0
200
0
0


113,760
110,007
120,059


134,330 2,292


174,335
44,753
51,244
b0,187
1,700


3,631
994
717
687
1,234


- 2G,046 307


_/ Although available dita dt not nr.iride conclusive evidence, it seems
probable that rpprecir..blE a.nunts of inmorted hea-iseed have not been
crushed f-.r -i' except during. the sh-rt period betw-en 1934 and August
193K.
2/ The excise tax )f 2-cents per r1und "'n hempseed, perillp. see,, and 4-1/2
cents per pT-in-. n p.-rilLa ?il Lecene effective August 21, 1936.
3/ Preliminary.
Leaders (---) indicate less than 'jC500 JMuns r not separately reported.


_






- 13 -


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FOS-15


- 17 -


Table S.- Flaxseed crushed in the United States, 1930-33

Year : : : :
Year : beginning :Jan.-Mar.: Apr.-June:July-Sept. : Oct.-Dec.
: July : : : :
1,000 bu. 1,000 bu. 1,000 bu. 1,000 bu. 1.000 bu.

1930 : 27,054 : 7,966 7,270 5,s87 7,391
1931 : 23,700 : 6,571 7,205 7,610 7,113
1932 : 17,370 : 5,393 3.5S4 3.739 4,998
1933 : 23,006 : 5,365 4,268 6,074 6,760
1934 : 20,720 : 5,156 5,016 4,293 4,569
1935 : 26,544 : 5,754 6,1o4 5,998 8,284
1936 : 30,340 : 7,094 5,16s 4,862 6,931
1937 _] : : 8,175 10,372 7,666 7,754
1938 1/ :: 6,461

l/ Preliminary.

Computed from Burpau of the Census, Animal and Vegetable Fats and Oils.






- 18 -


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19 -
Table 10.- Price per pound of specified drying oils, average 1934-37,
by months, 1936-38


: Linseed oil, : Tung
: raw :oil,


Year
:Minne-:
:apolis:
: Cents


Hew
York
Cents


.J


: drums,:
:Atlantic
::Coast 1/
Cents


?erillia.
oil, : c
drums,: f
N. Y. : m
Cents


:Soybean: 0iticica.: Henpr-: Menhaden: Sardine


rude,: : oil, :
.o.b.: IT. Y. :crude,:
iills : :1. Y. :
Cents Cents Cents


: seed : oil, : oil,


crude,
f.0o.b.
Balto.
Cents


:crude,
:Pauific
: Coast
Cents


oil.


LJ5 :4
1935

1936 -.

*Jan.-June:
July
Aug.
Sept.
Oct.
Nov.
Dec.


9.0 9.4
8.8 9. 4


8.9
17.0


9.5 9.8 16.1 12.1


9.2
9.8
10.1
9.9
9.7
9.2
9.5


9.G
10.1
10.3
10.2
5.7
9.4
9.7


17.1
18.9
16.5
14.4
13.5
13.0
14.3


7.5
9.7
9.S
9.9
9.
9.7
10.9


1937 : 10.3 10.u 15.7 12.1


Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.

1936 -


Jan.
Feb.
Mar.
Apr.


9.8
9.3
10.0
10.8
10.9
10.6
10.5
10.4
io.4
10.4
10.2
10.0


10.0

9.6
9.3


10.2
10.0
10.4
11.2
11.3
11.1
11.1
11.1
10.9
11.0
10.6
10.3


10.2
10.1

9.6


14.6n
15.4
15.4
13.2

13.1
12.9
14.3n
21.2n
21.8n
15.6n
114.=


15.6
15.3
13.3
12.5


11.7
11.6
11.6
11.9
11.5
11.3
11.6
12.1i
13.6
13.9
12.:5
11.5


11.3
11.1
10.6
10.6


6.0
C.1

7.5

6.2
7.9
8.0
8.2

8.0
9.1

6.1


9.9
q. r
9.S3
9.0
5.20

7.5
0.5
6.2
5.C
5.6
5.2


5.5
6.1
5.9


2.6
4.0


12.6

13.3
14 .
13.2
11.6
10.4
10.2
10.9

12.9

11.6
11 .
12.0
12.1
11.5
11.2
11.0
12.5
16.1
17.6
14.6
13.0


8.9

G.4
2.6
9.5
9.6
9.6
9.6
r


4.6
3.7n
3. 6n
3.7
4.4n
4.7n


- 5.2n


4..3
5.1
5.7
6.0
5.6
5.3'
5.3n
5.3n
4.9n
4.7n
4.6n
4.Sn


12.9
12.4
11.3
10.7


5.On
5.On
4.9n
4.7


Prior to Aug.
Average for S


22, 136,
months.


quoted at New York.


FOS-15


2.7
U.6

4.5


6.9
4.0n
4.2n
4.hn
4.6
4.9
5.5

6.0

6.4
6.9
7.2
7.2
6.9n
6.9n
5.9n
5.3
4.8n
4.7n
4.8
4.9


5.5
6.O
6.2
5.4


---~--~--


J


:*
*


il, :





FOS-15


- 20 -


Oleomargarine

Oleomar'nrine production in the first quarter o
above production in the sane peri d a year earlier. P
33.6 percent over production in the preceding month.
were largely supplied by coconut and palm-kernel oils.


32111D090411 21110
3 1262 08904 2310
"i
r~ hi


I 13) was 14.L percent
reduction in March was
The increased fats used..


New oils appear in small amounts from time to time. Approximately 17j000
pounds of rice oil, probably imported from Japan, are reported as having been
used for the first time in March.

Table 11.- Oleomargarine: Production and materials used in manufacture, United
States, total January March, monthly February and March 1937 and 1935


: 1937 1/ : 1938 I/
Item : Total : Feb. : ar. : T.otal : Feb.: : r.
:Jan.-Mar.: : :Jan.-Mar.: :
:1,000 1,000 1,000 : 1,000 1,000 1,000
: b. Ib. lb. : lb. lb. Ib.

Ileo oil : 4,225 1,363 1,558: 3,058 911 1,353
Olaostearine : 724 225 238: 796 248 264
Lard neutral : 520 173 182: 450 146 155
0leo stock : 425 131 160: 238 72 109
Total animal 5,894 1,892 2,158: 4.542 1,377- 1.881

Cottonseed oil : 41,307 12,4S9- 14,644: 52,699 16,792- 16,327
Soybean oil : 9,271 2,283 3,863: 9,457 2,756 2,514
Peanut oil : 862 234 321: 1,079 318 525
Corn oil : 504 175 148: 254 41 4
Total domestic vegetable 2 51,944 15.540 18,976: 63,519 19.907 19.370

Coconut oil :17,4?7 5,913 5,197: 20,376 6,431 9,555
Palm-kernel oil : 1,41 83 960: 2,6S5 528 1,2-
Babassu oil : 3,203 258 2,354: 4,382 1,099 1,145
Palm oil 543 191 214: --- --- ---
Rice oil ] --- --- ---: 17 --- 17
Sesame oil :1 ---. --- -- -
Total foreign vegetable k/ :22,735 6,445 C,725: 27.,460 8.058 11.955

Total fats and oils : 80.573 23,877 29.339: 95.521 29.342 33.206

Milk :17,931 5,197 6,774: 21,904 6,949 7,605
Salt and other miscellaneous : 4,573 1,345 1.631: 5.407 1.644 1.773

Production of oleomargarine :97,547 29,234 35,994:112,106 30,669 40,961

1] Preliminary. 2/ Ordinarily domestically produced.
3/ Bureau of the Census; probably oil imported from Japan.
4/ Not domestically produced.

Compiled and computed from reports of the Commissionpr of Internal Revenue.


II


^* 1

*