Products Of The South Seas

Copra Price Holds, But Market Is Dull

THERE has been little alteration in the London quotation for copra during the month. The price holds in a remarkable way, considering the comparative dullness of the market.

But this is only because British sellers are getting the benefit of the exchange premium. France, Germany and U.S.A., who are the largest foreign pur chasers of copra, remain on the gold standard, and therefore buy largely from their own nationals in terms of gold. The price is thus maintained in favour of the British producers. If the British pound were not at a discount

compared with gold, and the Australian pound at a discount compared with sterling, the British and Australian copra producers would be in a very bad way. As it is, they are doing very nicely, in comparison with French and American planters.

There seems to be very little chance of either British or Australian ex change altering markedly in the near future. So long as France, Germany and U.S.A. remain on the gold stand ard. British copra producers need not worry.