Philippines
p. 12 · Read in the full issue
Copra
EARLY in August the Fiji Coconut Planters’ Union sent its members the following account of the latest develop ments in connection with copra from the Philippine Islands.
“Writing under date of July 6, our Lon don brokers again emphasise the very large extent to which Philippine copra has been offered in the European market. In fact, it has become so cheap that English crushers have found they can import it, pay the 10 per cent, tax, and yet find it good value compared with other grades.
“Normally, of course, practically the en tire Philippine production of close on 300,000 tons is taken by the United States.
With the Processing Tax now imposed on coconut oil in the United States, tens of thousands of tons of Philippine copra has had to find a home in Europe.
“However, well informed opinion in San Francisco holds the view that sooner or later the United States must re-commence buying copra and we should imagine that this moment will not be long delayed.” ,