OILS WE EAT 



many direct conditions surrounding the worldwide 

 markets in fats and oils fill this field with diplomatic 

 mines and booby traps. It is foolish to hunt troubles 

 which may never happen, but it is foolhardy to ignore 

 danger signals of troubles that with forethought might 

 be avoided. 



Since most of the oils we get from plants and animals 

 can be put to at least two of the three chief uses, food, 

 soap, and paint, they are all more or less competitive. 

 A manufacturer in any of these industries can quite 

 easily switch from one raw material to another. In fact 

 he never hesitates to do so whenever one oil becomes 

 either too expensive or another is temptingly cheap. 

 The fatty oils are annual crops; from season to season 

 they vary greatly in yield. They come from all over 

 the world and are subject to the most diverse political 

 and economic conditions and to the wildest vagaries of 

 weather. Therefore, the supply of even the most im- 

 portant oils fluctuates sharply, and as a result, prices 

 rise and fall sensationally. Compared with the flighty 

 gyrations among the prices of fats and oils, the stock 

 market is as steady and sober as the old gray mare. It 

 follows that the raw material purchases of these three 

 great consuming industries follow the pattern of a 

 crazy quilt. 



All this does not mean that for each principal use 

 there are not favored oils. Of necessity the paint and 

 varnish industries must have a "drying" oil; that is, one 



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