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_00049
Classification:
lcc - HD9490.U5 A33
ddc - 380.1/41385/0973
System ID:
AA00005305:00049

Related Items

Succeeded by:
Fats and oils outlook & situation

Full Text







SSIT NATION
BUREAU OF AGRICULTURAL ECONOMICS
ULNIITED STATES DEPARTMENT OF 4GRFI.G~fOiE T

0F0- 3. ,- 6 NOVEBER 194,

I TH:S i.sU.: .. U.S DEPOSITORY
IN THIS iSSUE:
OLIVE OIL, 1940-43

r.A- OLIVE OIL, EDIBLE: WHOLESALE PRICES* AND
DOMESTIC DISAPPEARANCE, 1938-42
: NTS -- \ POUNDS
::' P R (MILLIONS)







B 1h. 'i.oil, New York.
6 ;-,# :.:[, ... 30




i.':Price of imported ie Caior
loil, Nw YorkNew Y
::: ; Prioe o! '.*orte, *__'


/ I






F PRICES IN TH
-S~ ALADy ,. 1 0





*PRICES FOR OIL IN DRUMS 8NOT AVAILABLE BEFORE MAY 1941
.i0: :P: .. .. .. .
S. DWPRRTNENT OF AGRICULTURE NEG. 42701 BUREAU OF AGRICULTURAL ECONDMICS

.e;-:,. WITH IMPORTS OF EDIBLE OLIVE OIL CURTAILED FOLLOWING THE SPREAD
SOF WAR TO THE MEDITERRANEAN AREA, PRICES IN THE UNITED STATES ROSE TO
:, ECORD LEVELS. DESPITE A CONSIDERABLE RECESSION AFTER APRIL 1942,
THESE PRICES ARE STILL ABOVE THEIR NORMAL RELATIONSHIP WTTH PRICES OF
OTH-.S SALAD AND COOKING OILS, AND PROBABLY WILL.REMAIN SO UNTIL IMPORTS
RESUMED IN VOLUME. THE TOTAL SUPPLY OF EDIBLE OLIVE OIL FOR 1943,
IN~LCU[II G JANUARY I STOCKS, MAY NOT EXCEED 20 MILLION POUONS COMPARED
i":." T..di. ;.. ;' A 1935-39 AVERAGE OF 70 MILLION POUNDS.
: .!! .: ; + ;.:.' .. .











Table 1.- Wholesale price per pound of fate and goals at specified m rkse, and Lhda
numbers of prices, October 190 and 1941, August-October 1942
PRICdB


Item


Butter. 92-acore, Chicago .........................................
Butter, 92-score, New York .......................................
Oleomargarine, dam. vag., Chicago ...............................:
Compounds (animal and veg. cooking fats), Chicago .................
Lard, loose, Chicago ..............................................
Lard, prime steam, tieroes, Chicago ................................
Lard, refined, cartoon Chicago ..........................................
Ole oil, extra, tierces, Chicago .................................
Oleostearine, bbl., N.Y. ...........................................
Tallow, edible, Chicago ...........................................

Corn oil, crude, tanks, f.o.b. mills .............................:
Corn oll, refined, bbl., N.Y .....................................
Cottonseed oil, crude, tanks, f.o.b. 5. :. mills .................:
Cottonseed oil, p.s.y., tank cars, II.Y ...........................
Peanut oil, crude, tanks, f.o.b. mills ............................
Peanut oil, daur., refined, bbl., .Y. .............................:
Soybean oil, crude, tank cars, .~iawsLern mills ...................
Soybean oil, dar., crude, drums, N.Y. .............................
Soybean oil, refined, drums, N.Y. .................................

Babassu oil, tanks, f.o.b. ills, Pacific Coast ...................
Coconut oil, !'nila, crude, tanks, f.o.b. Pacific Coast J ........
Coconut oil, Manila, crude, bulk, c.i.f. II.Y. I/ ................
Coconut oil, Manila, refined, edible, tank cars, f.o.b. N.Y. / ...I
Olive oil, edible, drums, IJ.. ....................................
Olive oil, inedible, drums, N.Y. ...................................
Olive-oil foots, prime, drums, N.Y. ...............................
Palm oil, Niger, crude, drums, N.Y. y/ ............................
Rape oil, refined, denatured, drums, 1N.. .........................:
Rape oil, blom, drums, N.Y. ......................................
Sunflower oil, tank care, f.o.b. N.Y. .............................:
Teaseed oil, crude, drums, N.Y. ....................................

Tallow, No. 1, inedible, Chicago ..................................
Grease, A :'tite, Chicago ..........................................
MKnhaden oil, crude, tanks, f.o.b. Baltimore ......................
Sardine oil, crude, tanks, Pacific Coast .........................:
Whale oil, refined, bleached winter, druns, N.Y. ..................

Linseed oil, raw, tank cars, !'inneapolis .........................:
Linseed oil, raw, drums, carlots, N.Y ...........................:
Perilla oil, crude, drums, N.. ....................................
i0ticica oil, drums, N.Y. ........................................
Tung oil, drums, N.Y. .............................................

Castor oil, No. 3, bbl., N.Y. ......................................
Castor oil, No. 1, tanks, N.Y. ....................................
Castor oil, dehydrated, drums, carlots, N.Y. ......................
Cod-liver oil, med. U.S.P. bbl., I.Y. ..............................
Cod oil, Netfoundlana, arums, N.Y. ................................


I October I 192
IY t


!


Cen mte

30.4 35.6
14.5 17.3
8.4 16.1
4.7 9.9
4.7 9.8
6.2 12.0
7.0 11.5
6.1 .10.2
4.4 9.2

5.1 12.2
7.7 15.4
4.4 12.2
5.4 12.9
4.5 12.1
8.0 15.9
3.9 10.4
5.5 12.0
6.9 13.2

-- 9.5
5.4 9.6
5.8 2 10.6

38.8 72.3
25.3 54.4
9.5 17.2
6.5 11.6
14.8 15.4
17.5 17.4

15.6 28.0

3.6 8.6
3.7 8.8
8.1
8.2
9.5 11.1

7.5 10.0
8.4 10.9
18.1 22.8
19.0 22.2
26.9 36.0

9.8 12.2
9.8 11.8
13.1 16.9
31.5 38.0
8.0 10.5


43.9 46.5
19.0 19.0
17.0 17,0
11.9 12.5
12.9 13.5
14.5 15.3

10.5 10.5


1J..

19.0
17.0
11.9
12.9
14.5
13.0
10.5
9.9

12.8
15.5
12.8
13.9
12.9
17.0
11.u4
13.0
14.2


11.0
11.4
1/ 2.8
60.4-
55.5
19.4
12.1
16.0
18.2
3 14.3
30.0

.8.4
8.8
8.9
8.9
11.1

12.5
13.6
24.5
25.0
39.0

13.8
13.0
18.6
36.4
12.0


12.8
15.5
12.8
13.7
13.0
17.0
11.8
13.0
14.2


11.0
11.4
2/12.8
58.4
90.0
19.0
12.1
16.0
18.2
14.3
29.8
I
8.8
8.8
8.9
11.1

12.4
13.5
24.5
25.0
39.0

13.8
13.0
18.6
36.4
12.0


IND NUmBaS (1924-29 100)
.Aght domestic fats and oils (1910-14 100) ......................: 82 119 139 143 149
.Jght domestic fats and oils ..................................... 58 84 98 101 106

All fats and oils (27'items) ...................................... 63 93 105 107 111
Grounded by original
Animal fats ..................................................... 60 81 95 99 104
Iarine animal oils ............................................. 86 120 127 127 127
Vegetable ails, domestic ........................................ 56 116 128 126 126
Vegetable oils, foreign ......................................... 88 l 7 45 45
Grouped M use:
Butter ......................................... 67 80 93 98 10
Butter, seasonally adjusted ..................................... 65 77 96 97 101
Lard ............................................................ 35 75 98 98 103
Other food fats ................................................ 62 133 135 132 133
All food fats ................................................. 62 88 101 104 109
Soap fats ....................................................... 57 118 19 119 119
Drying oils .................................................... 86 113 135 134 136
Miscellaneous oils .............................................. 86 105 117 117 117
All industrial fate and oils .................................. 70 115 125 125 125
Prices compiled front Oil, Paint and Drug Reporter, The National Proviaoner, The Journal of Comaerce (New Trk), ad
reports of the Agricultural UarKeting Aaministration and Bureau of Labor Statistics. Prices quoted include cami"
taxes and duties %here applicable. Index numbers for earlier years beginning 1910 are given in Technical BuLalti
No. 737 (1940) and The Fats and Oils Situation beginning December 1940.

I/ Three-cent processing tax added to rrice as originally quoted. 2/ Tanks, N.Y. 2/ Quoted in drums.


----- -- --


12.8
15.5
12.8
13.6
13.0
17.0
11.7
13.0
14.2


11.0
11.4
/12.8
56.7
51.7
19.0
12.1
16.0
18.2
3/ 14.3
30.0


8.8
8.8
8.9
11.1

12.2
13.5
24.5
25.0
39.0

13.8
13.0
18.6
36.4
12.0









TH E. A T S .AI O I D LS.S .I. UATI 0 N


". ; .

On the 1Usis of November 1 crop indications, p.odu .tion of cnttonseed

and peanut t41 in 1943&43:willb. be smaller than. ,as a~t'ibiattd in September

ae4 Qwutober but. the oagbea~ crush may. be larger than seemed likely earlier.

IXnreasing consumer demand for fluid milk and cream, together.with large

military and lend-lease requirements for dairy products, may'-result in reduced
P '. r ; *.
kjq. jgig tion, of butter in 1943. Although.total production of fats and oils

t dPq o domestic materials in 1943 will depend to some extent on Goverrment

F;, programs affecting production and consumptiqn.,of dairy products, it will
I*. .'. : .. : : .. .
Eed-a substantially the 1941 production of about 10.4 billion pounds.

Strengthening of demand for food fats and ols was evident in October.

r The price of refined cottonseed oil rose throughout the month, and early in

.jrwniber it reached the- eiling level for the.first time since May. Stocks

,if lard are now abnormally low,, while butter stocks have'been declining more

: ha seasonally. Prompt delivery of most vegetable ofilq 'has become difficult

to obtains "The unusually large .inventories o.food fats and qile in the

hands of dealers and large- consumers .at the bpginnig f the summer presumably

h ave been reduced to.more nealy normal .proporti.ons.

Factory and warehouse stocks of primary fats and oils declined nearly

100 million pounds from August 31 to September 30, Teaching l-2 2 million

Pounds on the latter date, :the lowest level in several years. Stocks are

,. .."*ected to: Serease seasonallyy in the next..few months as crushing Pf the

,, .jrd-.1942 cr af 'ilseeos .gets under ..y .. The use of fats and oils by

,,i aa.. aurers aisi raestroice& by. a recent ..limitatioQ order.

November 18, 1942
It ".






NOVEMBER 1942


---- RZVIW. OF RECET DEVELOPMETS

BACKGROUND.- Prices of fats and o.ils, which were unusually low
in 1939 and 1940, advanced sharply in the first half of 1941.
In the first quarter of 1942 further advances were made,
notably by lard and linseed oil. Maximum wholesale prices for
fats and oils, except butter, were first established on
December 13, 1941, with subsequent revisions. Effective
May 18, 1942, ceilings were established on retail prices of
fats and oils, except butter and linseed oil, at highest prices
charged during March 1942. Maximum retail and wholesale prices
were established for butter early in October 1942.

Butter and Lard Prices
Higher in October

Reflecting a higher level of butter and lard prices, the index of whole
sale prices of 27 major fats and oils rose 4 points in October to 111 percent
of the 1924-29 average -- 18 points higher than a year earlier and the highest,
.since November 1925.

The rapid rise in butter prices in September and early October was
halted by the establishment of price ceilings effective October 5. Bat as a
result of the rise that had already taken place, prices averaged about 2-1/2
cents higher in October than in September. At 45-75 cents per pound during
most of October, 92-score butter at Chicago was more than 10 cents higher than
a year earlier as well as the highest since early 1929.

Lard prices also were higher in October than in September as a result
of an increase of 0.9 cents per pound in ceilings effective October 13.
Prices promptly moved up to the new ceiling levels. The average price of
prime steam lard in tierces at Chicago during October was 13.5 cents per pouna
0.6 cents above the average for September. The new ceiling price for cash
lard at Chicago is 13.8 cents per pound.

Strength in wholesale prices of food fats and oils was general in
October. Prime summer yellow cottonseed oil at New York advanced from 13.50
cents per pound in the first half of the month to 13.90 cents late in the
month, reaching in early"November the ceiling level of 13.95 cents. Prices
of other food fats and oils except olive oil were at ceiling levels during
October.

Recent Amendments to Fats and
Oils Price Schedule

In Amendments 11 and 12 to Revised Price Schedule 53, effective
October 16, the Office of Price Administration established dollars and cents
maximum prices for wool grease, raw soap stocks (vegetable oil "foots"),
recovered or acidulated soap stocks, distilled fatty acids, stearic acid, and
oleic aci'. These new ceilings replace earlier ceilings for individual
sellers based on their highest prices on October 1 or November 26 1a year.
They are set at approximately the same level as the average of the old ceiling


.-4 -





-5-
Ajnoeandt 13, effective Odtbo~e 31, forbids the purchase of vegetable
:i-Fearing iterials from a :processor who agrees'to procema T o the buyer, if
rM-ic combined %ot of the-.m-laterials and toll for' prcessingt"deed.s the selling
yi'te for the type and quantity of;-the oil produced, after allowing-for the
value of .the'yprbodcts if these are retained by the processor. .-
i I Foreign purchases of fats and oils by agencies of the United States
ifl ent exempted from all price, control by Amendment 15, effective as of
aQ October 28. "
2-8
An inc-ease of one-hundredth of a cent per pound in maximum prices of
iu te.. soybdan oil at Chicago' is provided by Amendment 16, effective
rWeaVber 13.
Terms used in the lard schedule established byA.-Amepdment 10 (discussed
..a ~he Fats and 0ib Situation last month) are clarified ii Amendment 14,
utfeative October 31.

'. t ta- feanus Advanced

A prov.sioh o -the economic stabilizatibn act approved October 2 requires
prt prices f6r quota peanuts be supported at"O9 percent of parity, compared
il 5 peredht under previous legislation. Payments to growers for 1942-crop
g peanuts delivered to designated cooperative producer associations were
r"fs.'da accordingly to an estimated average of about $131 per ton for all types
M. grades, approximately $7 per ton higher than before. Advances for
i o ^li valar types and grades ranged from $5 to'$S per ton. Nd' change is made
i-flt& ort prices for peanuts fbr oil, because present support prices are now
St4f6ant ally above 90 percent of the comparable price for such peanuts.

gg'e E''xcess" Peanut to
*Si $2 _erTon More
SIt was announced October 22 that producers who deliver excess" peanuts
Sin ags will receive $2.,per ton more than for excess peanuts delivered in bulk.
N extra' payment for bagged quota peanuts will bb made, since most of these are
growh.,on acreages normally devoted to peanuts and in localities where sales
ii'thlods and handling and storage practices are well established. A large part of
'the'., rop-of excess peanuts has been grown on new acreages and frequently must be
Wnarketed in bags.

-' count Specified for.Frost-
'- Damed Soybeans

Soybean crushers have been urged to facilitate early processing of soy-
beans damaged by frost in late September in Iowa, .Minnes6ta, and northern
Illinois. Although available information indicates thht frost-damaged beans will
iot. deteriorate in storage this winter, it is desired to guard against any
"p6&itbie loss. .

The original contracts between processors and the Commodity Credit
GCorporation did not specify the discount to be applied to beans with more than 8
ypef et of damaged kernels. Cooperating processors were requested on October 24





NOVEMER 1942


-.6 -


to apply a discount of 1/2 cent for each L'peicent of damaged kerels in
excess of 8 percent in purchasing soybeans that giade Nb. 4 or 'better'IA Oth2r
respects and are not musty, sour, heating or hot, or objectionable .in 9o4r.
The corresponding commercial discount is 2 cents per bushel. Beans pwurGa e
in accordance with this schedule of discounts are eligible for sale to thk
Commodity Credit Corporation.

The Commodity Credit Corporation is continuing to urge farmers't. 4,ire
beans on farms because of the shortage of commercial storage space. 35y<,
effort is being made to provide for maximum storage in country and terminal
elevators and in bins owned by the-Corporation. Hazvesting of beans is well
under way in the Middle-West. Many beans are being stored on farms and in
elevators, while large quantities are going through the crushing plante.

Limitation Order fo r ats
and Oils Amended

To expedite military and lend-lease procurement of products that require
the use of fats and oils in their manufacture, the -War Production Bard on
October 27 issued Amendment 1 to the limitation order for fats and oils
(General Preference Order M-71 as amended September 22, 1942). ThLs org.er
established manufacturers' quotas limiting the quantity of fats and.oils that
may be used for specified end-products in specified periods, As isauea4 in
September and described in The Fats and-Oils Situation for October, the cardar
exempted from quota restrictions the:use of all fats and oils in the manufacture
of products for lend-lease or in the manufacture of edible products .sol4 far
military use. Amendment 1 extends the exemption to (1) the use of fats at.0 oils,
including domestic, vegetable oil foots and their fatty acids, in the manufacture
of soap for the armed forces, (2) the use of fats and oils in the manaufaote,
preparation, or finishing of implements of war (including merchant and naval
vessels) together with any parts, assemblies, or material to be incorporated
into the final end-product, and (3) the processing of fats and oils for
delivery to another manufacturer for use in the manufacture !f edible products
for military or lend-lease purposes.

To offset the increased nonquota use of fats and oils that will result
from these additional exemptions, the quotas for the quantity of fats and oils
that may be used in any period in the -manufacture of soap or of edible products
other than margarine are reduced from 90 to 88 percent of the average used dur-
ing the corresponding periods of 1940 and 1941. The percentage applying to
quotas for fats and oils used in the manufacture of paints and other protective
coatings is reduced from 80 to 70 percent. The quotas for fats and oils used
in margarine, linoleum, oilcloth, coated fabrics and printing inks are not
changed. In the case of domestic vegetable oil foots or their fatty acids, the
percentage of base-period use permitted is raised from 119 to 150, to permit
immediate use of. the unusually large quantity of foots being produced. this.
year. Foots.deteriorate rapidly in. storage.

The amendment required manufacturers to calculate their"base-peatod use
of fats and oils by deducting the quantities delivered for military and lend-
lease purposes in the base period from the total quantity used in the base
period.








hird-Qarter Production From Domestic
Materials Tigher Than Last 'ear :- -. .: ".

BFactory production of fats and oils from domestic materials in the third
A~arter ,f,.L92 totaled about .21 billion pounds, an increase of -13 percent
th~ theL quarter of 1941. Nearly all the domestic fats and olotls -hared
At. -t...i. -ase,. with inedible tallow and greases and soybean oil showing
Sigrea est gain5... Product-ion of fish oils, however, was materially ialler
'a. n.yasy-ar ee, and production of butter was slightly smaller.

roduction of fats and oils from domestic materials in the first 9 months
i 1942, including estimated farm production of butter and production of lard
from uninspected slaughter, reached a't otal of .7,223 million pounds, 6 percent
geater than in the corresponding period of 1941. In the fourth quarter of
9942, with the record spring pig crop arriving at market and with the crashing
of this fall's record oilseed crops, production of fats and oils will surpass
tIRptarter production in any .earlier.year. Total production of fats and
iftom domestic materials in 1942 probably will reach about 10.4 billion
S 'an increase of approximately 10 percent over 1941.

i .2& Sk. Level on September 30

~~,o.op ; Foto ad warehouse 'stocks. of fats and oils on September 30 totaled
*f.2 mi-lion pounds, compared with 1,921 million pounds a month earlier,
tW:. mi-li'o-11 pounds a year earlier; and 2,220 million pounds 2 years earlier.
j,:: ks were qt the lowest level .in recent years, but should increase seasonally
Sfor the next Iseveral months .

The reduction of 179 million pounds since September 30, 1941 is more
than accounted for by declines-'of 79, and 156 million pounds, respectively, in
stocks of butter and lard. Stocks of coconut oil, palm oil, and inedible
tallow were substantially smaller than a-year earlier, but stocks of soybean
*,,a cottonseed oil, and linseed oil were materially larger. (See table 7.)


vorament, Prchsasea of ats;
.i -l, Small in October

purchases of fats anji.oils'ih October by the Agricultural Marketing
Administration were larger than ,i. September but small in relation to purchases
in most ,months since March thisyebr... The total of about 63 million pounds
included approximately 32 million: pounds of lard, 23 million pounds of
vegetable oils, and 6 million' pounds.of butter, with lesser quantities of
edible beef fats and oils and fish-liver oils. About 800 million pounds of
fats and oils were purchased by -the Agricultural Marketing Administration in
.the first 10"months of 1942. l'ard'inde up'69 percent of this total; vegetable
lois, 16 percent; olebmargarine,. 7_.percent; butter, 4 percent; edible beef
tfts and. oilps 3 percent;' shortenig,. 1 percent., The quantity of fish-liver
oil) purchased .Was, importpont. in terms of vitamin content but was small in
total weight .





NOVEMBER 192 -

OUTLOOK

Level of Butter Production
in 194 Uncertain

A declining trend in butter production has become apparent in TeeAnt
weeks. If continued, it will- resultt in a smaller production of butter:
1943 than in 1942, rather than a larger one as anticipated earlier. a.i
trend is a result not only of difficulties in.maintaining milk produatoln
but also of a growing consumer demand for fluid milk and cream and for ice
cream, and large military and lend-lease requirements for dairy products.
Government programs and policies affecting the production and consumption
of dairy products will be an important factor in determining the level of
butter production in 1943.

Estimated Production of Fats and Oils From
Domestic Materials Devised Downward

On the basis of the November 1 crop report and other indications, pro-
duction of cottonseed oil from the 1942 crop of cottonseed will be about 80
million pounds less than anticipated a month or two ago, and production of
peanut oil may be 150 million pounds less. Perhaps 147 million bushels of
soybeans will be crushed before October 1 next year, however, instead of 135
million as estimated earlier, with a resulting additional output of 70 million
pounds of soybean oil. The net change in the estimate of production of oX1
from the 1942 crop of oilseeds is a reduction of about 150 million pounf3p
Although total l output of fats and oils, including butter, may fall conaldrrab;
short of the 12-billion pound level in 1943, which was anticipated last uonthI
it will still be much higher than in any earlier year.

OLIVE OIL, 1940-43

Imports of Olive Oil Greatly Reduced

The extension of hostilities to the Mediterranean area in the summer
of 1940 caused a sharp drop in imports of olive oil into the United Ctatese
Imports of edible olive oil in the second half of 1940 dropped to 48 percent
of the average of the corresponding periods in the 2 preceding years; of
inedible olive oil, to 19 percent; of olive oil "foots," to 85 percent, A
further material decline occurred in 1941. All our imported olive oil comes
from the Mediterranean area. As imported oil constitutes our total supply
of the inedible and "foots" types of olive oil and normally accounts for more
than 90 percent of the total supply of edible olive oil, the'reduction'in
imports had a major effect on the supply situation in this countryT

Prices of Edible Olive Oil' At Record Levels

In 1938, 1939, and the first 5 months of 1940, the wholesale pri.e of
olive oil (drums, New York) remained close to 26 cents per pound. In.the
15 months from May 1940 to August 1941, however, it rose to 74 cents-per "
pound, an increase of 184 percent. Prices of other food fats rpse in the
same period by 78 percent. In recent normal years edible olive oil has
constituted only a little over 1 percent of total consumption of fats~and






Ba'69. 9-

oils for food purposes, but olive oil is important in th6 dietary customs of
many*families of Mediterranean origin* While it is used rather widely as a
salad oil, it is extensively used by such families as a cooking oil. As a
r,.l,esult, it has enjoyed a decided consumer preference among this group, and
'this fact probably explains why its price became so high in relation to
o' their food fat and oils. In 1938 and 1939 wholesale prices of edible olive
Soil. averbged about 3 t-imes as high as wholesale prices of white deodorized
c ..ZCeoking or "summor") cottonseed oil, but in 1941 the ratio was about 5-1/2
: to 1t and in the first quarter of 1942 about 4-1/2 to 1. Recently the price
a olive oil has declined in relation to price of other edible oils. In
early November the ratio of olive oil to cottonseed oil prices was about
'1/2 to 1.

ulpption of Edible Olive Oil Greatly
-IN:,: iaed; Supplies Small

S Apparent disappearance of edible olive oil declined from 53 million
a in 1940 to 22 million pounds in 1941 and to 10 million pounds in the
h i.alf f 1942. (See ctart on cover page.) At the same time stocks
S*I.,ed relatively stable, declining from an unusually high level of 9
L.' on pounds on June 30, 1940 to about 7-1/2 million pounds on June 30, 1942.
'fbs low rate of consumption apparently exerted pressure on holders, for
;". ries declined from 76 cents per pound in April to 58 cents in October. The
meaually high ratio of olive oil prices to prices of other salad and cooking
oila in 1941 and early 1942 may have caused a shift in consumer preference
toward less expensive oils.

With unsettled conditions in the Mediterranean area and a scarcity of
steel containers in which olive oil is shipped, imports of olive oil probably
,will be small in 1943. A large part of the 1943 supply of edible olive oil
Vill be obtained from the 1942 crop of California olives, which is now nearing
harvest. The condition of the crop on November 1 was indicated to be some-
What better than last year. If average weather conditions prevail until
harvest, production should be somewhat greater than last year's 55,000 tons.

Processing is considered the main outlet for California olives. It
takes the better grades and brings higher prices. But with the strong upward
trend in production in recent years, the proportion of the crop crushed for
oil has been increasing. Forty-eight percent of the olives produced from the
crops of 1935-39 were crushed for oil, 34 percent were utilized as canned ripe
olives, and 15 percent were used for green olives of various types. Three
percent were shipped fresh to supply the special demand of a small group of
consumers. In 1940, when a record crop of 74,000 tons was produced, 59
percent was crushed for oil.

Difficulties in securing cans and rubber closures for glass bottles
re expected to limit the quantity of olives from the 1942 crop that can be
canned ripe. Other types of processed olives (except canned green, a rela-
tivbly unimportant type) do not require special closures and probably will
be prepared in normal volume. Perhaps only 30 to 35 percent of the crop will
be processed this year. If 3 percent is shipped fresh, roughly 65 percent
atf'the crop will remain to be crushed for oil. This would give a production
it, of oil in the neighborhood of 11 million pounds.





NOVEMBER 1942 10 -

Consumption and Stocks of Inedible
Olive Oil Low' .. '

Domestic production of inedible olive'oell is negligible. (See table
Imports constitute the total supply. Hence consumption haa 'declined Irery
low levels~: amounting to about 550,000 pounds in the first 6 months of 194g2
compared with-3,600,000 pounds 2 years earlier. Factory andd warehoud6" ~tock
on September 30 amounted to 62'4,000 pounds. 'Prices are very: high. InBdible
olive oil is daed chiefly in the textile industry.

Consumption of Olive Oil Foots Low
SBut Stocks Large

No domestic production is reported for olive oil nfoots.," This oil
is not a true foots or refining residue, but is the oil obtained solvent
extraction from the pressed cake remaining after the third or'.fourth pressing
of olives in a hydraulic press. Stocks on hand September 30 were reported
Sat 11.3 mill-ion pounds, a relatively large quantity in relation.to the rate
of disappearance. In the first 6 months of 19424,'disappearance amount~ d to
about 1.8 million pounds, compared with 9.7 million in the correspondi'
period of 1940. Olive oil "foots" are used.-principally for soapinaikini

E. L. BURTUis


























1.1

.


: -





** t r. .
*1 .ai ~i~ole e prices .per .pQund of .live oil and cottonseed oil, 1938-42
WI Oliv oil, edible. ;Olive bil,:0oive oil,:Oo-onseed: Price ratio,
: ~dr Ti. ew York : inedible,: prime :oil, white; imported,
S"'.''.i drumae, foots, :deodoried,:edible olive.
.Caji Tq~ O ia: ork : drums, ; barrels, a oi a
'. # '" "/l.. a ew York:3/ Chicago :cottonseed oil
J1.. .06 Cents Cent. 'Cents Cents

arpe 26.0 --- 2.9 8.0 9.3 2.8
.-,-averae... 26.3 .-- 12.9 .7.8 8.2 : 3.2
a',~ragOe : 26.3 --- 12.9 7.8 8.2 3.2


i. .-26.9 -- -13.1
Si...,,. 26.7 --- 12.9
,;...- 26.0 -- 12.
..... 5.3 -- 12.
..... 25.9 -- 15.0
,.: --- 19.5
... 30o7 -- 19.~
s.. ..31.6 -- 20.0
,.... 34.8 -- 23.2
a a*,... .*.s 38.8 -- 25.3
av. 4.......: 1.3 -- 29 9
a.......s 43.3 --- 31.7_
erage ..: 4/ 32.0 --. 19.6
aI ;" --


8.4
8.3
S8.3
8.2
8.5
9.1
9.0
8.7
8.9
9.5
10.3
10.4
9.0


8.2 3.3
8.1 3.3
7.8. 3.3
7.6 3.3
7.1 3.6
6.5 .---
6.6 4.7
6.6 4.8
6.2 5.6
6.1 6.4
6.2 6.7
6.2 7.0
6.9 4.6


;-.F ,...... : '43.2 -- 31.2 10.2 6.9. 6.3.
S.'*l.. .. .... 42.9 -- 30.4 10.6 7.3 5.9
*iI~.. ......: 46.9 -- '30.8 11.5 8.5 5.5
......: 533 --- 35.3 13.2 9.0 5.9.
a .......:.. 63.7 58.1 47.5 14.9 11.0 5.8
n, ......: 62.8 63.5 45.1 16.8 11.9 5.3
Ju .......: 72.7 68.3 52.3 17.0 11.9 6.1
Aug. ......: 73.6 65.1 52.3 17.0 12.2 6.0
*sept.' ...... 71.7 65.1 52.3 17.0 15.1 4.7
...ct. .......: 72.3 65.6 54.4 17.2 15.2 4.8
"Nov. .a......: 72.3 65.6 54.4 17.2 14.7 4.9
Dec. *......,: 74.8 67.9 54.8 18.2 14.7 5.1
Average .; 62 5/ .9 15. 11.5 5.

i an. ..s....: 7.5.7 ,68.7 58.4 18.9 15.8 4.8
Feb. .......: 75.7 68.7 59.3 19.6 l6.8 4,5
Mar. .......: 75.7 68.7 59.3 19.6 16.8 4.5
Apr. .......: 75.7 68.7 59.3 19.8 16.8 4.5
May ........: 72.7 69.3 58.3 19.5 16.8 4.3
June .......: .66.3 61.6 56.7 19.5 16.8 3.9
July .......: 61.6 58.4 56.7 19.5 16.8 3*7
Aug. .......: 60.4 57.6 55.5 19.4 16.8 3.6
Sept. ......: 56.7 55.7 51.7 19.0 16.s 3.4
0 at. ......,4 54.9 50.0 19.0 16.83.5
prices of live oil compiled from Oil, Paint and Drug Reporter; cottonseed oil from
e National Provisioner.
j/ Quoted in barrels prior to Mar. 15, 1940. 2/ Quoted in barrels prior to Mar. 22,
3 / (.ioted in barrels prior to September 1939. 4/ Average for 11 months.
A bgaO for .8 months.







table 3.- California olives: Production, utilization, and. prices ecesive&i:
by g rowers- 1919-41 .. .:


F Urtili nation : ea "ieurnzSa
.I: r.ower per Io
Crop Olives : .-:Crushed for oil : :.
year harvested Caned: Other: Shipped, iPercent4i OlivOs: :11 'J ':ota
/ ripe packs fresh :Quantity uge of :crushodi -ther :harvested
S/ : harvost:for oil;: ..
:1,000 1,000 1,000 1,000 1,000
: tons tons tons tons tons Percent Dollars Dollars Dollar


1.9 0.3


.2
.1
.2
.3
.4
.7
.4
-5
.5
.6
..4
.5
.5
.2
.9
1.3
.5
.5
1.4
.8


2.1

.3.8
.3.7
2.0
4.6
2.4
'6.7
3.4
6.s
5.8
8.2

7.5-
7.1
3.2
4.2
'4.4
17.3
11.0
12.3
27.0
6.1


1920
1921
1922
1923
1924
1925
1926
1927
1928
1929

1930
1931
1932
1933
1934
1935
1936
1937
1938
1939
1940
1941 4/


23.3 50.oo 157.20.


47.5
41.1
20.0
27.1

47
28.3
32.4
26.4
39-0

39.0
44 4
48.2
30.0
24.4
54.1
40.7
43.9
62.1
26.5

58.9
54.2


131.60


38.00 117.00o '_.50
35.00 94o.00- ..59,2o
38.00 101.70. 88,70o.
34.00 101.60...8 ,99-
33.00. 93.40 .. ,.7.10
33.00 74.70 ..55.-80
35.00 115.30: 92.20 :
35.00 .109.70: .5,3P:
34.00 96.70: ..0,9p..
36.00 87.00. ~ 6,0,.


9.0

8.0
9.0
10.0
17.0
7.0
15.0
12.0
21.0
22.0
21.0

20.0
16.0
17.0
14.0
18.0
32.0
27.0
28.0
43.5
23.0

74.0
55.0


4.7

2.3
3.8
6.3
10.4
2.9
6.2
7.2
11.2
13.3
9.8

9.8
6.4
5.9
7.9
9.9
7.8
13.8
11.5
6.9
12.2


3940..
32.00
.'a0 '
.95.30'

' .

i.80 -
: 00oo .


1.7
1.4
1.5.
1.7
1.3
1.4
1.0
2.55
2.4
2.4

2.0
2.0
2.4
1.7
2.8
5.6'
1.7
3.7
8.2'
3.9:

13.0
8.3


'a ______________________________
Compiled from California CooDorative Crop Reporting Service, California P imv" '
Estimates 1919 to 1941.
1/ 5,000 tons were left unharvested in 1932; 1,500 tons in 1938.
2/ Includes green ripe, California Spanish green, Greek style, and Sicilab sttle.
Also includes an estimated annual amount for home use bf 200 tons not sold by
growers.
SOut-of-State shipments.
4/ Preliminary.


: .
., 3 I


:


1919 :


1.5 43.6
.4 29.8


-20.00
20.00
30.00
38.00
31.00
42.00
46.00
29.00.
42.00

70.00
145.00


82.00
"-5.30.
43.40
70.60
100.80
62.70
76.80s
84.80.
73.70:
86.10: '


15.9
16.5


83.90o 5.7b -
161.20o:' 1.4; .


-12
-12 -


bOVEMWSR 1942


`:"


1


i




N i,


-t3- a


TaR A. i;' it o Ul edible oduotucti'on, trade ,
Misappeartce, and prodtrtion' as a percentage


stocks December -31, Apparent
of disappearance, 1912-42


a & ~: .. :Production


: : ; F: Factory :
S : cto ort Net : stocks :
Srodtlon / : imports : Dec. 31 :
.......... ; ; : :
1 000 11 oo 1,000 1j. 1,000 lb. 1,000 lo. 1,000 Ib.

S -43,460 59 43,401
S 38.844 56 38,788 --
50,857 52 50,805
5 4. -7- 47,767 101 47,666 --
55,435 392 55,043 -
S17 51,055 436 50,619-
18 .--- 1,284 155 1,129
9 439 67,681 485 67,196 7.443

) 643 30,591 448 30,143 6,ge4
91. A -974 49,711 197 49,514 6,542
322 5 95 61,187 67 61,120 7,!S69
23 574 77,130 70 77,120 6,034
i24 1,509 76,1L. 112 76,074 4,131
o95 532 90,42b 343 90,0o3 7,022
S 1,383 78;506 1o6 78,400 3;648
7 : 858 75,025 128 74,897 4,so6
s : 1,438 82,944 128 82,816 3,916
W .9 10qo3 96,798 222 96.576 6,114


I
U
U
4%
I.


2,184
1,649
860
2,103
1,035
664
4,48
2,324
4,742
6,853


. 3836
10,331


92,964
70,394
74,274
71,963
56,oo0
70,789
60,972
48,343
71,086
62,866

50,0o0
V]


180
105
57
46


92,784
70,289
74,217
71,917
56,008
70,789
60,972
48,343
71,086
62,866

50,080
3-11


8,390
4,051
4,631
6,g69
1,812
2,986
4,099
2,468
4,950
8,827


9,962
8,336


Apparent :' as a
disappear- percentage
ance : of disap-
: pearance
1,000 lb Pct.
43,01 --
38,788 --
50,805 --
.47,666
55,043
50,619 --
1,129
67635 0.6


31,345
50,830
60,378
79,529
79,486
87,724
83,157
74,597
85,144
95,381

92,692
76,277
74,497
71,782
62,100
.70,279
64.357
52,298
73,346
65,842


. 52,781
.22,077


2.1
1.9
1.0
.7
1.9
.6
1.7
1.2
1.7
1.1

2.4
2.2
1.2
2,9
1,7
.9
7.0
4.4
6.5
10.4

7.3
46.8


42 : 4] S,550
piled as follows: Production and stocks, Bureau of the Census, Animal and
getable Fats an& Oils. Trade figures, Foreign Commerce and Navigation of the
ited States. No exports reported. Apparent disappearance computed from data on
oduction, trade, and stocks.
General imports, 1912-33; beginning 1934,. imports for consumption.
Preliminary. .'. -
Not available.
Partly estimated,


w


i.




NOTVMER 1942 -

Table 5.- Olive oil, inedible; Production, net imports, stocks
December 31, and apparent disappearance, 1912-41-

Net
Year Factory Po- Stocks Apparent
ear production I Impors Dec. 31 disappearance*
: : 1i ______ : ______
: 1,000 pounds 1,000 pounds 1,000 pounds 1,000 pounds :

1912 : --- 5,694 -- 5,6941
1913 : -- 4,229 -- 4,229
1914 : -- 5598 5 598
1315 : 4736 4736
191 : 6,263 6-263
1917 :- -... 4,470 -- 4;470
1918 : .. 3
1919 : 102 2,118 -- 2,220

1920 : 8 459 -- 467
1921 : 74 4,164 433 4,238
1922 : --- 2/ 15.517 916 15,034
1923 : 24 0 1,401 /
1924 : 24 7240 l,411 7,254
1925 : -- 10,884 1,850 l0,445
1926 : 19 9,925 2,588 9,206
1927 : 27 6,819 994 8,W40
1928 : 13 8,724 1,312 8,419
1929 : 29 10,332 1,461 10,212

1930 : -- 7,113 1,744 6,830
1931 : 5 12,045 1,377 12,417
1932 : -- 11,759 1,454 11,682
1933 : 10 12,910 3,006 11,368
1934 : 3 9,670 1,625 11,054
1935 : 8 19,743 2,527 18,849
1936 : 12,045 2,498 12,074
1937 : 4,870 1,697 5,671
1938 : 3 5,444 862 6,282
1939 : 13 11.304 3,256 8,923
1940 -- 5,136 2,6119 5,743
1941 / : -- / 905 2,611

Compiled as follows: Product.ion and stocks, Bureau of the Census, Animal and.
Vegetable Fats and Oils. Trade figures,Foreign Commerce a.-d Navigation of
the United States. Apparent disappearance computed from data on production,
trade and stocks.
I/ 1912-33, general imports minus reexports; beginning 1934, imports for
consumption. No exports reported.
2/ Includes foots, October-December 1922.
SLess than 500 pounds.
Included with foots. (See table 6,)
/ Preliminary.
/ Not available. l










S...: Net iMpor.tsa a '.l/:" :'t O b. 31 : disappearance
" .::" '.: .I. ,. ouns_

S- ; 1.000 = -0 O d, ao s 1,000 pounds


1912
1913
1914
1915
S1916
1917
* 1918
1919

1920
1921
S 1922.
1923
1924
1925
1926. ;
1927
1929
; 1929.

S 1930 .
1931 -
1932 :
1933
1934
1935
1936
1937
1938
1939

1940
1941 4)


S




: .


"(:
: .
:
: :
C

: .


S
: 2/
'S-
S
.. .
.U

:
S -
:







* S


24,480
_/ ..


2,036 .......


15,733
o10,446
12,971
10,792
14,167
8,299
159
6,385

8,640
14,714
11,270
40o,605
24,678
40,s}3. -
4o,3oo00
42,307
39.54'
45,874

62,783'.
6,924 "
5.909
40,464 -
36,166
33,797
17,401
22,101
22,356
28,180


28,273
8,.981
13,505
S 10,g58
15,802
18,095
7,022
8.547
12,420
14,484

21,626
14,289


15,733
S10, 446
12,971
10,792
14.,167
S 8,299'
159
..* 6,385'
.................................


is,616. .
-15',297.
/ 10-.795
* /37,767 .
* 23.526. ,
3M 40 ..
43;-4 1 -
'41243...
S39,622
S.43.417 ..


.. 56,216
S. 41,385 '
: ... -. 43,lll "
31,222
. .... ..31,504
;... .. .. -28,474
: 20,576
: '18,483
:. 26,116


:... *17,338
. ..- 11,64


:...... .
Compiled as follows:...No factory productioba rFporled. Stocks, Bureau
of the Census,. Animal and- Vegetable .ats and Oil.s Trade figures,
Foreign Commerce and. Navigat-ion of ihe United States.. Apparent disap-
pearance computed from. data on trade abd stocks.
I/ 1912-331 general ipbrts' mihus reexports; beginningi 1934,.imports
for consumption. No exports -sported.
2/ January-September only, October-December included with'itedible
olive oil ,
./ Includes inedible: o01i-e 6il. Stocks of inedible olive oil 1922-2.3 are
used in computing disappearance.
/ Prelixnary.
SNot available.


2,060
1r,477
1.,.952
4j305
5-457
* V 72
5,058
6,122
6,047
8,50~


:I::-




NOvM Ba 1942


- 16 -


Table 7 Factory and. warehouse -stocks. 'of specified fats and oils,
crude basis, September .30, 1940-42, July 31 and August 31, 1942
u a A t 19.42
Item 'Sept.30,,Sept.30, -
-1940 1941 ; July 31s Ag. 318Sept. 30


%nimal fats and oils
Butter .............................:
Lard and rendered pork fat .........:
Greases, excluding wool grease .....
Neatsfoot oil ......................
Oleo oil ...........................:
Stearine, animal, edible ..........:
Tallow, edible .....................
Tallow, inedible ..................:
Wool grease .........................
Cod and cod-liver oil ..............;
Other fish-liver oil ..............:
Fish oil ...........................
Marine mammal oil ................ l
Total, animal
Vegetable oils, crude basis 2/
Babassu oil ........................:
Castor oil .........................
Coconut oil ........................
Corn oil .............................
Cottonseed oil ....................:
Linseed oil .........................:
Oiticica oil .......................:
Olive oil, edible ............,.....
Olive oil, inedible and foots .......:
Palm-kernel oil ..................:
Palm oil ........................
Peanut oil ..........................
Perilla oil ........................ :
Rape oil ........................... :
Sesame oil ..........................
Soybean oil ........................ :
Tung oil ...........................:
Other vegetable oils ..............
Total, vegetable
Grand total


.
.


Compiled from Bureau of the Census, except butter and lard, Agricultural Marketing
Administration. Totals computed from unrounded numbers.,
I/ Not reported prior to July 31, 1942.
/ Crude plus refined converted to crude basis by dividing by the following factorea
Babassu, corn, cottonseed, palm-kernel, and palm oils, 0.93; coconut, pearuit, and
soybean oils, r..94.
3 Included in "other vegetable oils."
Less than 500,000 pounds.


Million Million Million Million Million
pounds pounds pounds pounds pygflda

128 203 149 152 124
236 218 98 85 62
115 98 101 103 99
1 2 3 3 3
3 5 '7 5 4
3 5 .4 3 2
6 7 11 13 11
314 271 263 258 237
6 5 .5 5 5
21 10 12 13 11
1 .1 4 3 2
96 118 98 118 124
57 35 48 45 40
9877977 4 805 84

4 3 15 13 12
22 .16 38 37 30
224 204 140 136 130
23 41 44 44 42
454 271 368 276 304
115 161 211 230 243
2/ 11 9 9
9 8 .7 7 7
24 16 13 12 12
2 5 2 2 2
161 125 95 98 95
13 35 31 24 16
6 7 3 3 3
5 14 15 17 18
2 j 4 4/
89 68 156 1 111l
67. 33 35 33 32
11 -18 35 3 35
1,233 102 1.219 1,116 1,098
2.220 2.001 2,024 1,921 1.822






jt-
5''
\. .-1- b..e.a ..

?tb "'1'Vat8 Price's of 'p iftf'~-bearing materials, October 1940 and 1941,
*' 'at *s O-.4cto6z6 i.5e 1942 .
01 FS" :, 1942

Item Unit'. 1940 1941 Aug. Sept. Oct.

:y :Doll.rs Dollars Dollars Dollars Dollar -
I': beans, Brazilian, f.o.b.
kiatports ....... ...... :ong toh ft j51.00 1 75,9o. 75,00...75.00 75.00
ieed, U. S. farm price ....:Sort ton. 21.55 59,89... 404 45.33 46.%
aiEseed, No. 1, Minneapolis ......: Bu. : 1.47 1.87 2.O 2. 2.4 4 20
f ljAS ed, U. S. farm price .......: 1.27 1.64 2.26 2.24- 2.25
,Peals (for nuts and oil), U..S. : :
price. e................... ......: 100 lb. : 3.26 4.41 5.99 5.69 5.77
P4 a *s for.oil, delivered :
latee agencies ............... : --- 3 -. --- 4.04
Sdeans, N.. 2 Yellow, Chicago ...: Bn. : .3 158 ..1,71 1.71 --
Sleauns, U. S. farm price ........ .67 1.42 ..1.5 1.57 1.5s

. I i.d froOm 0il, Paint and Drug Reporter, Daily Trade. Bulet9n. (Chicago),.Chicago
SJ smal of Commerce, Daily Market Record (Minneapolis), .and report of the Bureau of
itural Economics. .. .
S: and f., New York. --. .

Table 9.- Price per tot of specified oilseed meals, Qctober.19. Q .and 1941,
August-October 1942, .

i "," ..Oct. : 1942 .
Item / 1940 :.1941 Aug. :Sept. : Oct.
S.. ol. Dol. Dol. o. Do Dol.


0. Ora meal, Los Angeles ...................... 20,50 3855 50.
Cottonseed meal, 41 percent protein, Memphis..: 25.05 .36.d0 5.:
iovtt6nseed meal, 41 percent protein, Chicago .: 30.60 '41.45 .'
Snuseed::meal, 34 percent protein-,Minneapoli,:: 25.10 -37.50 3'.'
iAe 0f mea,. 32 percent protein., .ev York ...: 25.45 31.25 35.
SPtanu meal,. 45 percent protein, f.o,. -:
Southeastern mills ........'....... .... : 21.05 '34.00 36.
SSybean mesL, 41 percent protein, Chicago .... 25.90 .37.95 42.

r fmpiled from records of the Agriculturail marketing Adhnistrat ion
SBagged, carlots. ..

I. *







r 7 "


LO
20
LO
15
60


52"
6o


52.140
35.60
41.35
36.00
35.20


52.90
36.25
41.9Q
36.45
33.75


36.94 '37.75
43.50 42,70




NOV~EMER 1942 18 -

Table 10.- Oleomargarine: Production, withdrawals for consumption, and
material used in manufacture, United States, September 1940 and 1941,
July-September 1942
.0
Item : Sept* 1942 I/
___ ___. 1940. s 19-: July : Aug. : Set.
S 1,000 1,000 1,000 1,000 1,000
: pounds pounds pounds pounds pomds
Production:
Colored ....................: 216 257 5,473 15,360 9,260
Uncolored ..................: 26.368 32.868 23.910 23.134 303
Total 2/ ................: 26,54 33124 29,383 495
Tax-paid withdraw ls
for United Statas
consumption & T ...........: 25.719 33,095 22,535 24,379 29,537
Materials used:
Oleo oil ......-............: 1,240 1,796 ,76 1,639 221
Oleostearine ..............: 282 356 196 278 215
Lard, neutral ..............: 426 5 403 388 735
Oleo stock .................: 95 220 305 266 335
Butter ............ ......... 3 -
.Tallow ......... ............: -- -- 37 24
Monostearine ...............: 18 15 67 7 10
Oleostearine oil ...........: -- 131 .-- -_
Total, animal ...........: 2061 3062 2 2599 3
Cottonseed oil .............: 9,956 12.525 1040 11,312 13.7
Soybean oil ................: 7,605 5.847 10,631 17,288 14,496
Peanut oil .....-............. 153 181 32 34 75
Corn oil ..................: 1 43 178 85 142
Cottonseed stearine ........: -- 25 62
Soybean stearine ...........: -- 1 -- -- -
Total, domestic vegetable: 17715 18,597 21241 28744 28 262
Coconut oil ................: .142 3,574 -- -
Babassu oil ...............: 331 290 -- --
Palm oil ..................: -- 905 --
Palm-kernel oil ............: -- 499 -- -
Sunflower oil ..............: --- -- .15 -- --
Total, foreign vegetable 1.473 5268 15 -
Total, fats and oils ....: 21,249 26,927 23,970 31,343 31.j9
Milk ......................: 5,118 6,04 5.255 6,629 7.143
Salt .....................1,030 1,133 971 1,225- 1274
Derivative of glycerin'.....: 62 73 53 69 71
Lecithin ...................: 8 17 19 21 24
Soda (benzoate of) ........: 10 15 13 23 23
Vitamin concentrate ........: 1 6 5 9 8
Miscellaneous ..............: 1 -- 4 9
Total, other materials ..: 6,230 7,288 6,320 7,985 <, 85
Total, all materials ....: 27,479 34,215 30,290 39.328 40,34-
Compiled from Internal Revenue records and Internal Revenue Bulletin.
j Preliminary,
STotal of unrounded numbers.
/ xcludes withdrawn free of tax for use in Federal institutions, and withdrawn
for export.
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After five days return to
UNITED STATES DEPARTMENT OF AGRICULTURE
BUREAU OF AGRICULTURAL ECONOMICS
WASHINGTON, D. C.


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Penalty for private Tho 1i
avoid pay:rent of poe ta:3


OZTICIAL BUSINESS


UNIVERSITy OF FIA LtBRAuBy
REFERENCE DEPr
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