Did price supports stabilize the tung oil industry?
While price supports did stabilize the tung oil industry in the United States, they did not solve long-term industry solvency. Because US market prices were high compared with those of the world market, foreign producers, particularly those in South America, shipped tung oil to the United States.
What is tung oil?
Tung oil or China wood oil is a drying oil obtained by pressing the seed from the nut of the tung tree ( Vernicia fordii ). Tung oil hardens upon exposure to air (through polymerization ), and the resulting coating is transparent and has a deep, almost wet look.
Why did the US import tung oil?
Because US market prices were high compared with those of the world market, foreign producers, particularly those in South America, shipped tung oil to the United States. The importation of tung oil helped satiate US demand, but it also kept domestic prices low and decreased the profitability of US growers.
Is there oil in Mali?
Mali’s Taoudeni basin has seen increased oil exploration activity since 2004. Recent instability and the threat to oil wells has prompted foreign military powers to intervene. Mali and oil are as complex as it can get. Though mineral rich, the landlocked country has no- established- oil or gas reserves worth commercial exploitation.