ISLANDS PRODUCE Exchange Rates

Coffee

THE following quotations were obtained in Sydney during March: Robusta, f.a.q., imported from Java on firm conversion of exchange, c.i.f., prompt shipment, Sydney:—Quote No. 1: 28/- per cwt.; quote No. 2- 90/- per cwt.

Kenya, f.a.q., immediate shipment, c.i.f., Syd ney, per cwt.:—No. 1 quotations: Grade “A”, 51/-; grade “B”, 46/6; grade “C”, 43/-. Triage 36/-. No. 2 quotations: Grade “A”, 59/-; grade “B”, 49/-; grade “C”, 43/-. Triage, 37/- (drought coffee). No. 3 quotations: Grade “B’’, 46/-; grade “C”, 38/-.

Mysore, f.a.q., prompt shipment, c.i.f., Sydney, per cwt.: No. 1 quotations; Grade “A”, 52/-; grade “B”, 56/-. No. 2 quotations: Grade “B”, 49/-; Triage, 40/-.

Arabian (Aden) Hodeidah, f.a.q., immediate shipment, c.i.f., Sydney—No. 1 quotation: 62/per cwt. No. 2 quotation,- 61/- per cwt. * Note: Importers of coffee from Java, etc., pay the following additional charges: Exchange, duty (4d. lb.), primage (10 per cent.), landing costs (1/- per cwt.). Coffee from Papua and New Guinea escapes most of these charges.

Kapok

Based on firm conversion of exchange, the c.i.f. official prices for kapok quoted in Sydney in mid-March, were;—Average Java 7&d. per lb., and prime Japara, 7 7-16 d. per lb.

Cocoa

Quote No. 1: Cocoa beans, £36-£3B per ton.

Quote. No. 2: New Guinea cocoa, £36-£3B per ton.

Quote No. 3: Accra, good fermented £3l per ton, c.i.f., Sydney.

Cotton

During the month, London, c.i.f., cotton prices were:—February 18, 5.05 d. lb., March shipment; February 25, s.lid lb., April shipment; March 4,5.01 d lb., April shipment; March 11, 4.93 d lb., April shipment; March 18, 4.96 d. lb., April shipment.

Ivory Nuts

No. 1 quotation: £B/10/- per ton, f.0.b., Sydnpy.

No. 2 quotation: £lO per ton, f.0.b., Sydney.

Green Snail Shell

Green snail shell, good quality, was quoted by Sydney buyers in mid-March, at £5O-55 per ton.

Rice

Rangoon nee: packed in 100 lb. bags, £l3 per ton; 200 lb. bags, £l2/15/- per ton, f.0.b., Sydney.

Australian table rice, packed in 56 lb. bags, £lB per ton.

Trochus Shell

Nominal quotations for trochus shell obtained in Sydney from two different sources were: (a) Trochus, shell, No. 1 grade .. .. £9O Trochus shell, No. 2 grade ... £BO Trochus shell, No. 3 grade .. .. £7O (b) Trochus shell, No. 1 grade .. .. £9OV 2 Trochus shell, No. 2 grade .. .. £79»/ 2 Trochus shell, No. 3 grade .. .. £7OV 2 All quotes are f.0.b., and on the Australian £.

Mother of Peor! Shell.

At the last London sales of Mother of Pearl shell, a substantial supply of Torres Strait shell came forward and was sold at prices ranging from £2OO (Australian) for A. A.

Chicken to £145 (Aust.) for defective pickings, fair to good. Little dealing was done in Black Edged shell (Tahitian), and none at all in New Guinea shell. Darwin shell fetched £2lO (Aust.) for Ist. grade to £lOO (Aust.) for fair defective pickings.

The semi-tanker “Tambua” is nearing

completion in a Dundee shipyard. She

will carry molasses for the C.S.R. Co.

between Fiji and Australia.

THE following exchange quotations, gathered in * Sydney, show the rates existing in March:

Fiji—Through Bank Of N.S.W.

And Bank Of New Zealand

Australia on Fiji on basis of £lOO Fiji: Buying £Alll/2/6, selling £AII3.

Fiji-London on basis £lOO London:

Direct Telegraphic Transfer

Selling Rates

Quoted by

Bank Of New South Wales

in Australia

New Guinea And Papua

Through Commonwealth Bank

From Australia. Pt. Moresby £1 per cent. ; on Rabaul 10/- per cent.—Other New Guinea districts £1 per cent.

From Rabaul on London, same as Australia on London:— Buying: T.T. £AI2S equals £stg. 100.

Selling: T.T. £AI26/10/- equals £stg. 100.

Through Bank Of N.S.W.

Australia on Papua £1 per cent, premium each way, equivalent to commission of £1 per cent. : Australia on Rabaul 10/- per cent, premium.

Papua and New Guinea on London: Same as Australia on London and vice versa.

New Caledonia—Through

French Bank

Drafts, Sydney-Noumea and Noumea-Sydney, are on the basis of current rate of exchange on

Paris, less 1£ per cent, (approx.) either way.

As quoted by the Comptoir National d’Escompte de Paris, in Sydney, and the Banque de I’lndo chine, Noumea: On March 22, when the Aus tralian £ was nominally worth 128.30 francs, £lOO Australian would purchase a draft In Noumea of 12,830 francs.

Western Samoa—Through

Bank Of N.Z.

Exchange, Australia on Western Samoa, basis £lOO Samoa —buying £AIOO, selling £AIOO/10/-.

Exchange, Samoa on London, basis £ 100 in London:—

Buying.

Selling.

Telegraphic transfer £110 15 0 £112 0 0 On demand £110 12 6 £111 IT 6

Francs to f Australia on Papeete Australian Average for week ended 21/2/38 . . .. 119.71 Average for week ended 28/2/38 . . .. 120.42 Average for week ended 7/3/38 .. .. 120.64 Average for week ended H/3/38 .. .. 121.68 Average for week ended 21/3/38 • • .. 125.24 Francs to £ Australia on Noumea Australian Average for week ended 21/2/38 . . .. 119.66 Average for week ended 28/2/38 .. .. 120.37 Average for week ended 7/3/38 . • .. 120.59 Average for week ended 14/3/38 .. •• 121.12 Average for week ended 21/3/38 .. 125.18

Buying. Selling.

Telegraphic transfer £125 0 0 On Demand £123 0 0 124 17 6 30 days 122 15 0 124 15 0 60 days 122 10 0 124 12 6 90 days 122 5 0 124 10 0 120 days 122 0 0 124 7 6