§ 73. Sir R. COOPERasked whether a sale of 30,000 tons of linseed oil to Germany has recently been arranged, at £57 a ton, the ruling price in this country at the time the sale was negotiated; whether, in consequence, the price in the United Kingdom has advanced to £80; and whether this arrangement is to the advantage of British industry and trade?
Mr. ROBERTSI have been asked to reply. The answer to the first part of the question is in the negative. As part of the arrangements made at the Brussels Conference for Germany to be supplied with 70,000 tons of edible fats, a sale of 25,000 tons of linseed oil was arranged at £78 a ton. At that time we had a surplus stock of linseed oil in this country, which was previously offered to the trade at a lower price. The rise in price of linseed oil has been caused by neutral and enemy purchases in the countries of origin.
§ Sir R. COOPERIs it not a fact that this surplus stock was offered to the trade on the strict condition that it should not be exported, and did not that policy have the effect of compelling British manufacturers to pay £96 per ton for linseed oil whilst our enemy has got it at £78?
§ Lieut.-Commander KENWORTHYIs it not a fact that they had so much of this oil that they could not store it?