Tung Oil Supplies Scarcest Since World War II

George W. Kromer

No 320092, Miscellaneous Publications from United States Department of Agriculture, Economic Research Service

Abstract: U. S. tung oil supplies in 1962-63 are forecast at 39 million pounds, roughly 19 million less than in 1961-62 and the smallest since the oil-short days of World War II. Freeze damage reduced the 1962 tung oil crop to an estimated 6 million pounds, only one-fifth as large as that a year earlier. Thus, domestic requirements will need to be met chiefly through imports from Argentina and Paraguay. Domestic disappearance of tung oil in 1962-63 is forecast at 33 million pounds, 10 percent less than in 1961-62. Sharply reduced supplies of tung oil along with the highest prices since the spring of 1952 will encourage drying oil users to shift to substitutes where possible.

Keywords: Crop Production/Industries; Demand and Price Analysis; International Relations/Trade; Marketing (search for similar items in EconPapers)
Pages: 12
Date: 1963-02
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Persistent link: https://EconPapers.repec.org/RePEc:ags:uersmp:320092

DOI: 10.22004/ag.econ.320092

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