TUNG OIL OUTPUT HIGH, PRICE DECLINES; COAL MINES EXCEED PRODUCTION QUOTAS

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP80-00809A000600310699-2
• Release Decision: RIPPUB
• Original Classification: C
• Document Page Count: 5
• Document Creation Date: December 22, 2016
• Document Release Date: August 12, 2011
• Sequence Number: 699
• Publication Date: June 6, 1950
• Content Type: REPORT

Sanitized Copy Approved for Release 2011/08/17: CIA-RDP8O-OO8O9AOOO6OO31O699-2
CLASSIFICATION CONFIDENTIAL ~,QHF1DEn-iA~
CENTRAL INTELLIGENCE AGENCY REPORT
INFORMATION FkOM
FOREIGN DOCUMENTS OR RADIO BROADCASTS CD I:O,
SUBJECT Economic -Commerce, mining, fishing
HOW
PUBLISHED Daily newspapers
WHERE
PUBLISHED Shanghai; Tientsin; Nanking; Canton;
Hong Kong; Soochow
DATE '~
PUBLISHED 4 - 30 Apr 1970
Txl] DOCU YlNi CONTAINS IN/0 [Y ATION AI/ICTINf TN! NATIONAL D!/!N!t
01 TN[ UNIi[D STA7[f MITNIN TN[ NlANIMD 01 [l IIO N Af[ ACT [0
V. f. 0., ]1 AND ]t. Af AN [ND[D. IT] TRANf IIf]ION ON TNI ![YlLATION
O/ IT] ODNTINri IN AMT YAN NIN TO AN YNAVTNO NI]!0 I[Nt ON I] INO?
MY lT[0 IT LAM. [[INODU OTION 01 TNI] /ONN If INONIIITI D.
DATE OF
INFORMATION 1950
DATE DIST. ~ Jun 1950
N0. OF PAGES 5
SUPPLEMENT TO
REPORT NO.
TtTKG OIL_OUTPIIT HIGH, PRICE DPCLIP?ES;
COAL t~,INES F~CCEED PRODUCTION ~,'UOTAS
It has become apparent that unscrupulous speculators have been dumping
tluTg oil on the foreign market, resulting in bringing the government-deter-
mir_ed, minimum, export price of l09 Hong Kong dollars per legal picul down to
170 dollars.
In view of this, the East China, South China, and North China Foreign
3'rade Control Pureaus have suspended the issue of tong oil export certifi-
catea.
The South China Bureau has proposed to allow no exports to Hong Kong at
any price Fourteen Shanghai tong oil export firms, considering this reason-
able, signed a ,joint agreement to export no tong oil to Hong Kong. The bu-
reau also proposed a raise in the price of tong oil at the point of produc-
tion. On this point the ;sealers expressed themselves as believing the cur-
rent drop in interior prices is temporary due to up-river buyers slacking off
purchases to use the money to pay off bond. purchases. Also, .they believe
that the government's new fiscal policy has reduced inflation, thus stabiliz-
ing prices on lower levels, They believe the price levels will be adjusted
satisfactorily if the 011 and Fats Corporation gives proper leadership.
ShanghL~ -- The major production areas of tong oil are found in the prop=
inceb of Szechwan, Hupeh, Hunan, Honan, Shensi, ,Chekiang, and part of Anhwei.
The larger storage and. distribution centers include Hankow, Chang-sha, Ch'ang-
te~ Chung$ing, and Wan-hsien.. A total of 30,000 metric tons of tong oil is
mow in storage at these centers. At present, the yield of tong oil is excel-
lent, about 1,000 piculs of oil being marketed daily.
STATE
ARMY
CONFlD~~TiAI.
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