The U.S. Castor Oil Situation

George W. Kromer

No 321810, Miscellaneous Publications from United States Department of Agriculture, Economic Research Service

Abstract: U.S. castor oil supplies have declined steadily since 1962, from 388 million pounds to about 300 million in 1967. The drop chiefly reflects reduced government-held (GSA) stocks. In 1967, imports supplied roughly two-thirds of domestic disappearance of about 150 million pounds. Castor oil sold from the GSA stockpile, plus domestic castorbean production supplied the other third. The 1968 crop castorbeans will be supported at 5 ½ cents per pound--the first program since 1954. The program will operate through oil mills who agree to pay growers not less than support. CCC purchases will not exceed 30 million pounds of castor oil.

Keywords: Agricultural and Food Policy; Crop Production/Industries; Demand and Price Analysis; International Relations/Trade (search for similar items in EconPapers)
Pages: 16
Date: 1968-02
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersmp:321810

DOI: 10.22004/ag.econ.321810

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