Centred Around
p. 69 · Read in the full issue
Germany
Trend of World Vegetable and Whale Oils Market
IN a recent circular regarding the European oils and fats market Messrs.
Faure, Blattman and Co., of London, gave some particulars of interest to South Seas copra producers concerning the world position of oilseeds and whale oil.
Germany, it now seems, is definitely a non-competitor in the world copra mar ket. She is, however, obtaining huge supplies of coconut oil substitutes. Messrs.
Faure, Blattman’s comment is as fol lows: “The European position is entirely centred around Germany, and it is in teresting to find that the nett German Imports of oils and fats (calculating oil seeds at their oil equivalent), viz., the quantity available for German consump tion, for the first nine months of this year, exceeded the quantity available last year by 85,000 tons, or nearly 20 per cent., this notwithstanding the drop in the im ports of lard of 23,000 tons, and a drop in the imports of whale oil of 106,000 tons.
“In the meantime, Germany has been able to arrange to buy 160,000 tons of last year’s whale oil catch, and 50,000 tons of the new 1934/35 catch, on a bar ter basis. It is obvious that notwith standing the difficulty in securing foreign exchange, Germany up to now has still been able to secure a normal supply of oils and fats, and the acquisition of 210,000 tons of whale oil should make it possible to restrict further their imports of other oils and oilseeds which can only be acquired against payment in foreign currency. It is hardly surprising, under these circumstances, that German con sumers have been informed that the im port licenses granted to them for pur chases up to December 31, will have to be eked out until March 31, 1935.
“It is reckoned that of the old whale oil catch, there is still about 75,000 tons un sold, and apparently the whalers are hoping to find a way to sell this quantity to Germany as well. This would clear up the whole of the last catch, and would leave the bulk of the 1934/35 catch (which will probably be somewhere around 400,000 tons) to be disposed of.
“It is obviously extremely difficult to form an opinion as to the probable future movement of oils and fats, and owing to the artificial way in which all business is done nowadays, movements must con tinue to be very irregular. On the whole, we think we must look for some further upward movement in the price of all edible material.”