asked the Minister for Industry and Commerce if he has investigated the reason for the recent increase in the price of Irish-made glucose, and if he will make a statement in the matter.
Ceisteanna—Questions. Oral Answers. - Glucose Price Increase.
Mr. Lemass
I am satisfied, as a result of investigation of the matter, that the price at present being charged by Ceimici Teoranta for home-manufactured glucose is reasonable having regard to home market prices in other countries and the desirability of developing a native glucose industry.
The price charged by the company previous to the recent imposition of customs duty on imports of this commodity was related to the price at which surplus production is disposed of here by foreign manufacturers whose home markets are protected.
Mr. Lemass
I do not think the Minister has answered the question that I asked. What was the reason for the increase?
The reason for protecting the industry and permitting the increase was that the glucose industry here, recently established, has to compete with glucose which is sold on the Irish market at a price less than that at which glucose is sold on the home market of the country exporting the glucose to this country. In other words, the Irish industry has to compete with glucose sent in here at dumped prices.
Mr. Lemass
Am I not correct in assuming that the Irish industry was selling glucose at £9 a ton less than it is now charging? Was it losing money when it was doing so?
The position is that the Irish glucose industry could not sell glucose against the dumped prices at which glucose was being exported to this country, that glucose which was exported here being sold at substantialy higher prices on the home market of the exporting country.
Mr. Lemass
Was the company losing money at the old price?
The company was bound to lose money on glucose which it could not sell.