Islands Produce
p. 94 · Read in the full issue
(Unless otherwise stated, quotations are in Australian Currency)
Cocoa
Cocoa beans imported into Australia from the Pacific Islands come mostly from New Guinea and the New Hebrides and are purchased almost wholly by the Commonwealth Chocolate and Confectionery Manufacturers’ Association. The buying price is based on the ruling rate of Accra beans (produced mainly in the Gold Coast Colony, West Africa). The current world crop of cocoa beans is the third largest for 25 years and some overseas market observers indicate that the recent fall in prices is the result of over-supply. Prices are expected to fall again, slightly within a short time, before the price level is stabilised. Recent quotations for sales of Western Pacific cocoa beans are:— New Guinea; £144 per ton.
New Hebrides: £149 per ton.
Western Samoa’s cocoa production goes mainly to USA, where its distribution is controlled by the International Control Board. The price in Apia fell in February, 1949, to £lOO-£l2O Stg. per ton, f.o.b.
Accra (quotation by Colyer, Watson Pty., Ltd., Sydney): £132/2/6 Sterling (equivalent to ap proximately £165 Aust.), c.i.f., Sydney.
Trochus Shell
Irregular shipments are handled in Sydney by several Pacific Islands trading firms. Latest sales were: Thursday Island shell, £72 per ton; New Guinea shell, £64 per ton.
Coffee
No coffee trading is permitted in Australia without the consent of the Tea and Coffee Control Board, to which all offers must first be submitted. Nominal quotations as follows; — New Guinea and Papua: £l2O to £l6O per ton (c.i.f.), according to quality.
New Caledonia: Production is being taken by France, at considerably higher than normal rates (equivalent to around £2OO Australian per ton for Arabica and £l6O Aust. for Robusta).
Java: No importations at present—prices are too high to interest Australian buyers.
Vanilla Beans
No Pacific Islands supplies available. Produc tion of the main South Seas, vanilla-producer, French Oceania, now goes to USA.
Cotton
At present, no cotton is coming to Australia from any of the Pacific Territories.
Rice
No free-trading in rice at present. The whole of the Australian rice crop goes to the Govern ment for allocation to countries where rice is a staple of the native peoples. Rice shipped from Sydney to Islands ports is fixed at £45 per ton White and £49 per ton Brown.
Green Snail Shell
There have been sales recently on the Sydney market at £72 per ton, c.i.f.
Pearl Shell
The opening price for the new season’s M.O.P. shell was: Thursday Island, £4OO per ton (assortments, 80 per cent, sound; 20 per cent.
“D” and “E” grade). Firms in USA made early quotes of around £445 (Aust.) per ton, c.i.f., for Torres Strait pearl shell.