Low Prices.
p. 10 · Read in the full issue
Samoan Produce Tied Up.
From Our Own Correspondent.
APIA, March 19.
THE local price for copra has dropped to a new low level —£6 10s. per ton to Europeans, and ¾ cents per lb. to Samoans. This is a serious blow to the producers, especially to the small Euro pean planters, who, even at a higher rate, hardly made ends meet. Whether a settlement of the American financial crisis will improve the market price in the near future remains to be seen.
The cocoa planter is not much better off. Though at present with beneficial weather conditions a good quantity of cocoa is picked, prices are low ,and buyers are unwilling to risk the mar ket. One Apia firm of copra buyers is reputed to have about 250 tons of Samoan cocoa on hand in British and American warehouses, representing an investment of approximately £12,000 and which stocks they are unable to dispose of at reasonable figures.