§ 72. Mr. W. Shepherdasked the President of the Board of Trade if he is aware that since the removal of the ceiling price for carnauba wax the price has soared to over £700 per ton; and whether he will confer with the U.S.A. with n view to appropriate action.
§ Mr. BelcherYes, Sir, the limitation of prices depended on the control of imports which, in the case of the U.S.A., was withdrawn after VE Day. I have no reason to think that the United States. authorities would now be prepared to e - impose that control, but the price may be expected to fall again with the slackening of the present abnormal demand and the increase in supplies of substitutes.
§ Mr. ShepherdWill the hon. Gentleman say why he permitted re-exporting of carnauba wax a few months ago, when the price was almost half what it is today; and is he aware that this is causing us loss of currency?
§ Mr. BelcherNo, Sir. I could not forecast a few months ago what the price was going to be today.