THE DEVELOPMENT OF THE VEGETABLE OIL INDUSTRY IN OSAKA DURING THE MIDDLE MEW ERA (1889-1905)

The purpose of this article is to survey the development of the vegetable oil industry during the middle Meiji period, through the case of Settsu Seiyu.Settsu Seiyu, a vegetable oil company, was established in Osaka in 1889 as a limited company by famous oil and fertilizer merchants whose businesses dated from the Tokugawa period. This company, which pressed oil seed by machine, was the largest vegetable oil company in Japan.At the time of its foundation, Settsu Seiyu pressed only rapeseed. The company started to press other oil seeds (cotton seed, linseed, castor, and peanut) after 1984. It purchased materials from various places in order to set off possible risks of poor harvests and to maintain stable management. The circulating fund for the purchase materials was constantly insufficient, although the equipment fund was sufficiently raised from capital paid up by the company. The company therefore often borrowed funds from the banks, thus benefiting from the financial system.Initially, Settsu Seiyu sold most of its vegetable oil and oil cakes through special agents. But later it did not depend on special agents at all. It advertised its goods at Furitsu Osaka Shohin Chinretsusho, and its products were highly rated at not only domestic industrial expositions but also foreign expositions. The company expanded its market. Most of the vegetable oil and the refined oil were consumed not only as light oil but also as machine oil.