Copra Stabilisation Fund

For Ng

rE Australian government has decided to “establish a Stabilisation Fund to assist in maintaining the (copra) in dustry in New Guinea on a sound basis.”

This was announced by the External Territories Department on February 12, and follows a recent rise in copra prices made to producers in Papua and New Guinea. It is stated that the price pay able for copra in Australia is £36/10/- and the difference between this amount and what the planters actually receive (£2B per ton for hot air copra and £27 for smoke-dried, at the main ports in Papua and New Guinea) is represented by the cost of transport from the Territories to Australia, the Territory Customs export duty and a special levy to be paid to a Stabilisation Fund.

The Departmental statement continues: “There is a very strong world demand for copra at the present time and every ef fort is being made to secure from the Territories of Papua and New Guinea all possible production. The price of copra has, however, fluctuated during the years prior to the war, and as it is not possible to forecast the future trend of prices it has been decided to establish a Stabili sation Fund to assist in maintaining the industry on a sound basis.

“To this Fund will be paid surplus funds held by the Australian New Guinea Pro duction Control Board in respect of Copra trading and the levy of £1 per ton that is now being imposed.

“The amount of the levy for the Stabi lisation Fund and the price payable to planters will be reviewed should .any fur ther increase in price for the commodity in Australia be authorised by the Com monwealth Prices Commissioner.”

(See article on page 12 this issue )

Miss Myra Harber, formerly of Perth, WA. has recently been appointed house keeper at the Presbyterian Overseas Mission hospital in Vila, New Hebrides.

The Governor of Fiji, Sir Alexander Grantham, and Lady Grantham, were ex pected to arrive in Suva by plane from Australia on February 15. His Excell ency is accompanied by Mr. J. E. Side botham, Under Secretary of the British Colonial Office, who will make a brief stay in Fiji and look over the Colony’s administrative machinery.