The Price In Manus.

To the Editor.

Sir,—ln your issue of November an ,article appeared headed, “Copra Re covers from £10/5/- to £14/10/- in Nine Weeks,” and you proceed to show that planters in Australian Territories should be receiving “something over £14 per ton for copra” and “getting along comfortably.” Alas, that it is not so!

Here are a few copra prices received by me in Manus, T.N.G.;

Add the difference between here and Rabaul of 25/- per ton freight and still I am a long way from receiving £14 per ton; and am not too comfortable about it.

I am, etc.,

N. L. Whiteley.

EDITORIAL NOTE : Articles in the February and March numbers of this journal will make the position a little clearer for Mr. Whiteley, and othes inquirers. When, in November, we said that copra at £14/10/- in London should mean £14 for the producer on Australian cur rency, we were not, of course, taking into ac count the merchants’ charges for shipping and selling. It has been shown in recent articles that if the producer wants prompt credit for his copra, and sells on the spot, he cannot expect to get immediate London parity. Generally speaking, there is a difference of £7 per ton between the spot price being paid for copra in Rabaul, and the London price, converted into Australian currency. For instance, at the end of February, the London price was £16/10/-.

Converted to Australian currency, this, became £20/10/-; and £7 off £20/10/- was £13/10/-, which was about the merchants’ offer for copra in Rabaul at that date. The way in which the £7 is made up was shown in our aticle in February.

Manus London Price. Price. 30 Mar, 1931 £9 2 6 . . £14 10 0 4 Jun, 1931 £5 2 6 . . £10 17 6 6 Oct, 1931 £6 7 6 . . £12 0 0 1 Dec,, 1931 £7 10 0 . . £13 10 0 24 Dec, 1931 £8 1 6 . . £14 5 0 30 Jan, 1932 £8 11 6 .. £14 15 0