Products Of The South Seas

Copra Affected by Unsettled European Finance

THERE is not much that is new to report about the copra situation.

The fluctuations in price during the month were probably connected directly with the fluctuations in the condition of international finance, which have caused great uneasiness in Europe lately. Copra has reached its rock-bottom price, but the process of market recovery throughout the world is going to be slow. The vast over-pro ducttion of vegetable and whale oils must be reduced, and the world must, i'j gradual improvement in economic conditions, recover its ability to con sume much larger quantities of soap, margarine, etc., before the copra pro ducer will begin to feel any benefit.

Wise planters and traders have scaled everything down to the present level of prices, have budgeted accordingly,

and are now patiently awaiting the recovery. It will come, perhaps within a few months —probably not until next year. Big international movements in finance, including the Hoover morator ium, will probably be reflected in healthier movements in trade and commerce. But it is a slow process, and much remains to be done —par ticularly in the freeing of gold, and the re-establishment of silver Messrs. Brown & Joske Ltd. (Suva), in their circular of August 10, expect a general improvement in copra prices soon, in either Europe or America.

Messrs Faure, Blattman & Co. and Messrs. L M. Fischel &: Co. (London), in mid-July, reported that the market was depressed owing to the unsettled state of European finance. The latter added that “supplies of copra this year are going to be quite heavy,”