Copra

Prices High and Outlook Good

WORLD-WIDE factors, which affect the copra market, change so quickly that it is difficult to keep track of them. But the net result, on the month, is seen in high prices and excellent prospects, so Pacific planters need not worry.

America, despite the Bailey tax, remains a keen and eager buyer. Climatic condi tions have reduced American production of oils and fats.

Britain and Norway have agreed on the restrictions to govern the Antarctic whal ing season (December 8, 1936-March 7, 1937). The argument was protracted, be cause Norway wanted production limited to the 1935/36 figures, whereas Britain sought exceptions in favour of the Uni lever and Salvesen companies—famous as friends of copra-producers!

The British-Norwegian agreement to restrict whale-killing may be rendered useless owing to the departure southwards in October of German and Japanese whal ing fleets. Those two nations urgently want oils, fats and glycerine for military purposes; they have not the foreign ex change to buy foreign-grown copra, tal low, etc.; so they are going to chase whales and thus get their own supplies.

France’s decision to abandon the gold standard is bound to affect the copra market —how, remains to be seen. The first effect may be unfavourable; but, as France begins to regain her foreign trade, the ultimate effect must be good.

Mr. D. J. Mahon, of the Prisons De partment of the Papuan Administration, reached Sydney to spend three months’ leave by the Montoro on October 15.

Captain A. S. Fitch, head of Steamships Trading Company Limited, of Papua, arrived in Sydney from Port Moresby by the Macdhui on business at the end of September. He was later joined by his wife and daughter who arrived by the Van Rees on October 13.