Koitaki Rubber

Year’s Operations Reviewed

DUE to the depressed state of the rubber market, Koitaki Para Rubber Estates, Ltd., Papua, after providing £1,381 for depreciation and amortisation of leaseholds, incurred a loss of £2,301 on operations during the year to June 30 last.

Total output of rubber for the year was 328,998 lb. The market price of rubber fell from 10¾d. a lb. on July 1, 1929, to 3⅞d. on June 30, 1930, since when it has recovered to 4-9/16d. Average selling price throughout the company’s year was 8.16 d.

In June instructions were given to close down, as the loss was too great.

Since then a revival in the market and mainly the imposition of a duty on all foreign rubber of 4d. a lb. have enabled the plantation to be carried on without serious loss, and instructions to close down have been cancelled.

Cost of production has been reduced about 10 p.c., and it is considered that further economies can be effected. ———