X 
rise being accentuated by poor crops and short supplies in India 
during that year. Early in December the price was 570 s. and in 
January 1920 it touched 88oj. With every indication of a bumper 
crop coming forward, prices have since declined. There is no doubt 
that they had reached an unhealthy level and all in India who have 
the true interests of the industry at heart are anxious for a reversion 
to normal levels and normal trade conditions. 
From the stand-point of May 1920, one may review the present 
position briefly as follows:— 
The war has naturally altered both the value and the direction of 
India’s lac trade During 1912, a typical pre-war year, the total ex¬ 
ports stood at 254,000 cases. The principal customers were:— 
Cases. 
The United Kingdom taking ... ... ... ... 50,000 
The United States taking ... ... ... ... 111,000 
Germany, Holland and Austria taking ... ... ... 63,500 
France taking ... ... ... ... ... 16,500 
During 1919, a year when the crops were poor and freight space 
still short, the total exports amounted to 205,000 cases. 
Germany and Holland took only 450 cases direct from India, and 
the principal customers have now become:— 
The United Kingdom taking 
The United States taking 
France taking 
Japan taking on transit for the western ports of America... 
Cases. 
56,000 
139,000 
5,450 
600 
The 1920, crop prospects are good, but foreign consumers are 
buying freely and the reduction in the German demand is not noticed. 
No satisfactory substitute has appeared on British or foreign markets, 
even under war compulsion. In short, all foreign conditions are 
favourable to the industry of which India holds what is virtually a 
world’s monopoly. 
No monopoly in the world, however, can be considered perma¬ 
nently safe. The greater its value, the greater the inducement to the 
manufacture of rival products. The importance of lac to many manu¬ 
facturing industries of the West, and its present high value, expose it 
to serious risks of attack. Unfortunately, also, the industry is encrust¬ 
ed with local prejudice and handicapped by unscientific methods. 
