-|Of Canned Fruit Expected to Hit Japanese Exporters Hard Tokyo, Mar. 20. sustained advance is likely. Featured by buying and covering on sold out market. A late cable states that England is reported to be inquiring for Cubes. Cocoa prices improved on cessation of peace talks.
The Federal Reserve Board Production Index for February has been placed at 109, and there are now in-
Fruit pulp and marmalade will be the only varieties of imported canned fruit to escape the licensing system imposed by the British, Government yesterday, according to a report received here from London today.
Business circles here expressed fear that Japanese exporters of canned goods would be hard hit by the measure, explaining that not only Y.15,000000 worth of canned fruit salad is shipped to—Englan. yearly, but that still more important that the present market were the future prospects. Canned fruit salad from Japan had only recently been introduced in England and exporters had hoped that future sales there dications of a slower rate of decline for the current period. Car loadings were off 2,012 at a time when a seasonal rise should be taking place. would be large. Sales of canned Mikan (Japanese tangerine) had also been bright as Japanese traders planned to export over one million boxes Although the steel composite price|of the fruit in 1940. Contracts for has softened by 17 cents to $16.54 more than half of these exports have and mill schedules continue above the already been completed.
Shipments of canned fruits which dustry's signs of the steel market broadening date of licensing, will not be affected left their ports of export before the and current month business above by the ruling—Domei, U.S. Crude Oil Production New York Mar. 20, Production of crude oil in the United States for the week ended March 16 averaged 3,890,000 barrels daily, according to the weekly report issued today by the Petroleum Institute of New York.
This represents an average increase of 61,000 barrels per day compared with the preceding week and of 506,000 barrels daily compared with the corresponding period last year.—Reuter.
Text read from the printed page and cleaned; old type leaves the occasional error.