Samoan Copra
p. 34 · Read in the full issue
Tax
Administration Hurriedly Reimposes 30/- per Ton
From Our Own Correspondent.
APIA, March 8.
SEVERAL months ago., when the price of copra, Samoa’s staple product, was at a record low level, having dropped as low as £7 per ton on the London market, the Samoan Administration reduced the existing copra export duty of £1/10/- per ton to 10/- per ton. The Administration expressly stipulated that it reserved the right to reintroduce the previous duty whenever the copra price returned to normal.
Lately, when the London copra price rose rapidly to above £12 which, together with the exchange benefit of 25 per cent., was in excess of £15 per ton in Samoan currency in London, the Apia merchants decided to raise the local prices. Accord ingly from March 1 the local prices were fixed as follows: Native copra, 4/- per 100 lb. in Apia district; 3/9 per 100 lbs. coast districts, Falefa to Mulifanua; other out
side districts and Savaii, 2/6 per 100 lbs.; planters’ copra, sun-dried, delivered at Apia, £6 per ton; planters’ hot-air dried, £6/10/- per ton.
These rates, however, were in force only a few hours on March 1 when Apia mer chants were informed by the Administra tion that the old copra export duty of £1/10/- would be reimposed immediately.
In consequence the merchants had to alter their new purchasing rates and the price to natives was reduced 6d per 100 lbs. all round, while European planters are to re ceive 10/- per ton less for their copra.
While it is generally admitted that the Administration is entitled to benefit from, the rise in the market price and to levy a higher export duty, merchants point out that it would have been preferable to in crease the duty gradually and not by £1 at a time. In any case the Administration, will benefit very considerably from the ex ceptionally large quantities of copra which at present, favoured by good weather con ditions, are being cut all over the islands.
The motor vessels of the copra buyers are busily running to and from outside districts transporting large copra loads to- Apia sheds. In consequence, business at trading stations, after being stagnant for many months, has now revived and is re ported to be very satisfactory.