In Europe

The Copra Market In Europe

By Our Special Correspondent

London, Mar. 31.

A FEATURE of last month was the good trade to consumers, and produc ers have been able to market fairly good quantities. This demand, however, has recently shown signs of falling off.

A factor which may have contributed to the decline of the last few days is the final figure of this season’s whale oil catch, which is somewhat better than was first anticipated. The total catch is estimated at 450,000 tons.

Events on the Continent, in Czecho slovakia and elsewhere, have also been a disturbing factor and do not make for confidence. At the moment of writing, there are indications that we may see even lower levels for copra, but as far as the political horizon is concerned, this, of course, qpplies equally to other com modities.

Palm Kernels. —Owing to the relatively low price, supplies of palm kernels in West Africa, during the last few months, have been below normal. A rise of 10/per ton, however, brought out sellers, and shipments are again becoming nor mal. Palm kernel oil is worthy of notice because it is a competitive article and largely interchangeable with copra oil.

Germany, the biggest European im porter of copra, has continued to buy her normal requirements in the usual channels. On the other hand, since last October, she has considerably reduced her purchases of other oil-seeds such as groundnuts. The well-known London firm, H. M. Faure and Company, at tributes this to the fact that Germany is short of foreign exchange. Her average imports of groundnuts, which are usually about 300,000 tons, have nearly all to be paid for in sterling.

This shortage of exchange probably accounts for her being compelled to im port larger quantities of soya beans on a barter basis from Japan.

For some time the general outlook for oil-seeds will, of course, be largely' af fected by the international situation, as is the case with other commodities.