Copra Price

A Mysterious Market

AFTER maintaining a fairly profitable level, under conditions which sug gested that some measure of stability had arrived, the copra market very suddenly sagged badly early in March and, at one time, showed a fall of nearly £3 per ton.

There was almost a panic in some circles, where copra had been bought confidently over recent months and where considerable stocks were held.

At the moment of this writing the posi tion is uncertain. A recovery is expected, but it cannot be said yet that it is defin itely in sight.

The cause of the fall in prices is com pletely a mystery. The statistical position in regard to world supplies of oils and fats is actually very reassuring, and the trend of prices should be up rather than down. The latest reports from the An tarctic show that the whaling companies have only a moderate catch, the position being—

It will be seen, therefore, that the whale oil in sight this year is a little more than half of the supply that came forward in 1934.

The latest available reports from London indicated “a continued shortage of oils and fats in North America and central Europe, which is causing a constant demand for near and afloat parcels.”

The only explanation we have here in Sydney since the price sagged is: “It looks as if the Unilever combine has got control of the situation again.”

On Jan. 3.

Barrels of oil 1936 627,825 1935 728,983 1934 1,207,450 1933 1,132,750