London Copra Market

From a Special Correspondent.

London, Feb. 25.

I HAVE been trying all over the place to find out what is happening to the copra market, but there does not seem to be anything definite as to why, when the price of soap and other articles which contain oils is being reduced, the price of the raw product should be hardening.

Some of the real brokers state that the recent rise is on account of the Eastern sellers holding off. The groundnut posi tion is also causing the market a little anxiety, but no doubt the conditions will, as soon as these positions are fixed, show the consumers of copra; or, I should say, the consumer may be able to see what is to be done. In any case, if the holding off by the East, can give the product such a jump up, then surely someone should be able to push the hold-up for all they are worth, and bring the selling price nearer to the ideas of the grower.

The closing prices on Saturday -were around 5/- higher all round, and there are buyers in the following: Ceylon £14 15 0 Straits Sundried £13 7 6 „ F.M £13 0 0 Cebu £12 17 6

South Seas nominal at, say £12 2 6 No other quoted.

The position is therefore very difficult, and still obscure as regards the future.

If there is any real movement in the gen eral position then some sort of forecast may be made, but for copra to increase at this time of the year is unusual.

Of course, it may be that the Proctor and Gamble holdings in England, through the soap company of Hedley and Co., at Newcastle, cutting into Lever Brothers, may have some effect. But no one will sqy, and they are playing the same game as Levers,’ by giving soap away for cou pons, etc., etc. Anyway, that is the posi tion, and it is causing a deal of com ment in Mincing Lane.