Accepted

Fiji Copra Goes Up!

Ministry's New Offer Accepted

From Our Own Correspondent SUVA, June 11 FIJI copra producers will receive £7/3/6 per ton more for their copra from June 9. This follows a recent offer from the Ministry of Food in London for FMS grade Fiji copra at £37/12/6 sterling (£4l/13/6 Fijian) in bulk.

The Fiji Copra Board sought the views of a number of producers and merchants after the Ministry’s offer had been re ceived, but as 60 per cent, of Fiji’s copra comes from small producers it was im possible to obtain a fully representative opinion in time to give the quick de cision that was necessary. The majority of producers and merchants seemed to be in favour of accepting the price, request ing that the Ministry give a long-term agreement for five years, if possible, but at least until 1950.

The buying price at Suva and Levuka is now £36/19/- (Fijian) for plantation grade copra and £36/13/6 for FMS grade.

The B*oard has increased its margin between the local buying price and that received from the Ministry from a little over £3 per ton to £5 per ton. They state that this is necessary because of shipping delays, shrinkage, insurance and inter est.

Following is a list supplied by the Board of estimated costs on 100 tons of copra;—

The price realised for 97 tons of copra (that is, allowing for 3 per cent, shrink age) at £4l/13/6 a ton would be £4,042/9/6, leaving a credit balance to the Board on 100 tons of £56/10/5.

The item, “Interest, £7l/13/4” is not ex plained. It should not be necessary. It represents nearly 15/- per ton.

In Australian currency, Fiji producers are now receiving the equivalent of £4l per ton. The price paid to New Guinea nlanters, it was announced on June 17, is how £3l/2/- per ton, at the ship’s slings.

Buying price at £36/13/6 a ton .. £3,667 10 0 Handling charges at 18/6 a ton .. 92 10 0 Wastage of sacks at - 8/- a ton .. 40 0 0 Twine at 2/6 per 100 sacks ... 200 Stamps 2 0

Customs entry * 0 Interest 71 13 4 Overtime, say 3 00 Fire Insurance 21 13 4 Interest on insurance premium .. 15 0 Administrative expenses 18 0 0 Port and Customs service, Customs tax and wharfage 42 16 10 Bank interest pending payment .. 23 16 11 Weighing and tallying ... 348 Total £3,986 19 1