Awaiting Policy Announcement

August 5, 1967 The week's report would not perhaps be complete without a mention of export business in oilcakes. Inquiries with shippers indicated that the East European countries had made very sizeable purchases in groundnut extractions and that business could have been still larger if extraction manufacturers had not been perturbed by the sharp decline in the prices of solvent extracted oil. Fresh export business put through in cottonseed extractions was not large. The market has also been thick with unconfirmed reports about the sale of nearly 1,000 tonnes of castor oil to some East European country. Since export business in castor oil has been at a standstill for a very long time, its resumption would be widely welcomed. India is still the second largest producer of castorseed in the world and is known to have exported over 40,000 tonnes of castor oil in a year in the fifties.