Products Of The South Seas

Copra Market Still Dull

ALTHOUGH copra prices remain at a low level, recent weeks have seen a, slightly healthier tone in the market, with prices around £15/15/- and £16 per ton. General opinion seems to lavour the maintenance of this price, with, perhaps, a stronger price early in the new year. But it can hardly be expected that this will exceed £17.

Information was given in last issue about the whaling industry in the Antarctic, and it was shown how the large production of whale oil from there was affecting the demand for coconut oil. During the month, re ports were received in London, from the Antarctic, announcing that a catch of whales, producing 11,000 barrels of oil —valued at over £45,800 —had been made by the Anglo-Norwegian Holdings fleet, the largest British Empire unit In the whaling industry, for the first week of the 1930-31 season, ended October 19.

If this average is maintained by the fleet throughout the season, it is likely that a record supply of whale oil may be on the market in the coming year.

No further news is to hand concern ing the supply of other alternate oils, such as palm kernel oil and soya bean oil.

Messrs. Brown & Joske, of Suva, in their summary of the copra position during last month, state that both buy ers and sellers appeared to be sitting back, each waiting for the other to make the first move. The tone of the market was described as steadier to North European ports, but somewhat slow at Marseilles. San Francisco crushers still had ample supplies. A later report stated that the European market was firm, with an upward ten dency, which, it was feared, would be only temporary.