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WASHINGTON : 1976
CARROLL HUBBARD, JR., Kentucky
“USITC Recommends Adjustment Assistance for Shrimpers," news
release from U.S. International Trade Commission, dated May 11,
"IFI Lending for Palm Oil, 1965–75," information submitted by staff of
subcommittee upon request of Congressman Charles E. Grassley -
"Palm Oil Projects Presently Being Prepared for Board Consid-
eration," list of "small pipeline loans"-------
Poage, Hon. W. R., prepared statement-------
behalf of by Congressman de la Garza-------
Simon to Congressman Dawson Mathis ---
de la Garza, Hon. “Kika”, chairman, Subcommittee on Department Op-
erations, Investigations and Oversight, Committee on Agriculture, letter
Development on citrus-------
"Ivory's Coast's Output of Palm Oil Gains ; U.S. Gives Aid, Irking Soybean
Growers,” article from the Wall Street Journal of April 7, 1976--------
National Cotton Council of America, statement of W. D. Lawson III, pres-
DEVELOPMENT INSTITUTION LENDING FOR PALM
WEDNESDAY, SEPTEMBER 15, 1976
HOUSE OF REPRESENTATIVES,
SUBCOMMITTEE ON INTERNATIONAL
DEVELOPMENT INSTITUTIONS AND FINANCE
Washington, D.C. The subcommittee met, pursuant to notice, at 10 a.m., in room 2222, Rayburn House Office Building, Hon. Henry B. Gonzalez (chairman of the subcommittee) presiding.
Present: Representatives Gonzalez, Mrs. Boggs, Stephens, Johnson, Grassley, and Paul.
Also present: Representative Mark W. Hannaford of California.
This is a hearing on four resolutions concerning loans by international development lending institutions for the development of palm oil production. Palm oil is an edible oil, and competes directly with edible oils produced here in the United States.
The resolutions we are considering are House resolution 1399, 1419, 1445, and 1451. Two of these are identical, so Members will find only two of the resolutions before them. All of the resolutions state that loans made by the development banks for palm oil production are causing serious harm to American farmers and processors, especially in the soybean market.
Our witnesses today will be sponsors of these resolutions. In addition to the six members we will hear, a number of statments that have been received from others of our colleagues who are concerned about this matter, and these statements will be entered into the record.
The administration has been invited to appear at these hearings, but I am told that the invitation has been declined. Representatives of the Treasury have said that the administration has to work on palm oil loans, and that it is trying to work with various banks to persuade them that no more loans should be made for these projects. According to them, no useful purpose would be served as public discussion at this time.
I find this attitude incredible and totally and wholly unacceptable.
The President's campaigners have said that there won't be any more palm oil loans. If that can be said on the campaign trail and in other public announcements, it can be said here, and for the record. If our Government has a policy, it can, and it should be, discussed. I cannot understand how an administration can proclaim a policy one day,