Kankakee Valley Post, Volume 16, Number 46, DeMotte, Jasper County, 4 October 1946 — $60 MILLION ADDED TO U.S. FOOD COSTS [ARTICLE]

$60 MILLION ADDED TO U.S. FOOD COSTS

OPA Administration Program Imposes Terrific Toll on Hdusehold Pocketbook Washington, Sept. 30—The OPA tonight announced food price increases which it said will add $60,000,000 a year to the nation's food bill, along with boosts on cotton textiles and other items. The food price action is an increase of two and one-half cents a pound in retail pices of oleomargarine, cooking and salad oils, mayonaise, salad dressing and shortening, effective tomorrow. Prices of cotton textile fabrics and yarns were raised about two percent. This is the fourth cotton increase since Aug. 1. The OPA said it will increase the retail prices of bde linen and tablecloths about two per cent and cotton garments one per cet. Cotton linters were raised three cents a pound. Linters are the residue fibers from cottonseed and are used for numerous products, including mattresses, upholstery, rayon and cellulose products and synthetic rubber tire cord. The increase is retroactive to Sept. 4. Soy Beans Up The price of soy beans was increased 15 cents a bushel and storag charges and distributors’ markups also raised, effective tomorrow. The Civilian Production Administration announced its abandoning a previous requirement that makers of wool fabrics tes aside part of their production for lowcost clothing. It explained that ample supplies of wool fabric are available but a spokesman warned that the shortage of men’s and boys’ woolen suits, trousers, overcoats and topcoats will continue. The agency will continue to require set-asideS of cotton and rayon for low-cost clothing. J OPA explained tha£ the higher retail prices on cooking oils and related products result from an i,-.urease in the price of crude cottonseed, osy bean, peanut and corn oils recommended by the agriculture department. These ceilings will average about one and three-fourths cents a pound, with resellers taking their present mark-ups. The agency said resulting increases in refined oils will be: Cottonseed oil, 1.93 cents a pound: peanut oil, 1.86 cents; soybeans and corn oil, 1.89 ecu's. 'i.lie fourth increase in cotton i' xi’ l v‘ces resulted from a pro- ’ the OPA extension act which j quires the price agency to revise its ceilings monthly in line with the market price of raw coti ■ ton. OPA said cotton had climbed to 36.51 cents a pound during the jeriod Sept. 8-22 and this forced the two per cent boost in fabrics and yarns. The increase in cotton linters was allowed to aid production and j'.-’. • ouiion.