Am.  Jour.  Pharm.  ) 
January,  1920.  j 
Olive  Oil  Situation. 
37 
and  is  probably  correct  to  within  i  in  the  third  decimal  place.  For 
so  small  a  value  the  change  is  insignificant. 
[Signed],  F.  W.  Ci^arke, 
T.  E.  Thorpe, 
G.  Urbain. 
OUVE  OIL  SITUATION  IN  ITALY. i 
By  a.  a.  Osborne^, 
secretary  to  the  commerciai.  attache),  rome,  aug.  23,  1919. 
Last  year's  total  yield  of  olive  oil  in  Italy,  although  it  exceeded 
the  average  annual  yield  for  the  past  ten  years,  was  not  sufficient  to 
provide  for  the  total  yearly  consumption,  according  to  a  communi- 
cation to  //  Sole.  The  monthly  consumption  of  edible  olive  oil  in 
Italy  ranges  at  present  from  120,000  to  130,000  quintals.  This 
means  that  the  average  annual  requirements  amount  to  1,500,000 
quintals.  The  most  favorable  estimates  of  next  year's  production 
go  no  higher  than  1,300,000  quintals. 
The  apparent  deficiency  of  200,000  quintals  in  olive  oil  produc- 
tion (obtained  from  the  excess  of  requirements  over  production  as 
they  are  both  given  above)  must  be  made  this  year  to  supply  oil  to 
the  redeemed  territories,  where  the  inhabitants  have  been  almost 
without  edible  oils  and  fats  during  the  war  and  are  eager  to  secure 
them  now  in  large  quantities.  The  continued  and  prospective 
scarcity  of  butter  likewise  will  result  in  a  demand  for  oil  to  take 
its  place. 
The  writer  goes  on  to  point  out  that  a  substantial  portion  of 
Italy's  olive  oil  requirements  must  be  met  by  importations.  For  im- 
ported olive  oil,  the  market  prices  must  naturally  be  paid,  which  are 
not  subject  to  regulation  by  the  Italian  Government.  The  only  price 
policies  left  open  to  the  Government  regarding  this  imported  oil 
are  two:  (i)  To  sell  the  imported  oil  to  the  consumer  at  the  domes- 
tic price,  the  Government  bearing  the  loss;  (2)  to  raise  the  fixed 
price  of  domestic  oil  so  as  to  accord  with  the  price  paid  for  the  im- 
ported oil. 
^  From  Commerce  Reports,  Oct.  16,  191 9. 
