Samoan Cocoa-beans Drop
p. 72 · Read in the full issue
£20 Per Ton
From Our Own Correspondent.
Apia, Nov. 3.
planters of Western Samoa at present have considerable cause for worry.
Mithin the last four weeks the price paid by local buyers has dropped from £4O per ton to £2O per ton. which is below the cost of production. There is an accumulation of about 700 tons of Samoan cocoa-beans stored in London, and a large quantity of this is in the hands of brokers and jobbers. It seems that the latter are holding out for better prices, and meantime do not feel inclined to buy additional shipments.
Various remedies against the present almost desperate situation have been dis cussed by merchants, planters, and the Government-owned N.Z. Reparation Es tates. Some suggest that, with the help of the N.Z. Government, all the Samoan cocoa should be pooled and sold to best advantage on the most favourable mar ket. Producers would then receive an average price. This suggestion is still under discussion.