LINSEED OIL PRICES

Evening Post, Issue 20, 23 July 1935, Page 12

LINSEED OIL PRICES

Australian linseed oil manufacturers and distributors of the Australian and imported article last year endeavoured to effect an improvement in trading conditions by elimination of price-cut-ting, which at the time was causing serious loss to many traders. Although a certain measure of success attended those efforts, general observance of uniform wholesale prices was not achieved. As a result of recent discussions between the various interests in the oil and colour trade it is now expected that price uniformity will be effected in future. The fairly stable condition of overseas markets over the past few months assisted traders in coming to an agreement. The practice of immediately altering quotations, to conform with .replacement cost, when price changes take place in the London market, which hitherto has been observed, will be discontinued. Merchants, if they so desire, will still be permitted to ask a premium on some brands of imported oil. The opinion in the trade is. that the new method of price fixation will place trading on a more economic basis. A similar form of stabilising white lead quotations, which was adopted several years ago, has worked successfully.