Down £140 Per Ton
p. 11 · Read in the full issue
New American Price For Pearl Shell
A FALL of £l4O a ton for pearl shell has resulted from agreements signed by leading Broome and Thursday Island pearlers late in June with Mr. Allan Gerdau Co., New York, the world’s chief shell-buying firm.
The firm has agreed to take the entire production for 1949 and the succeeding two seasons at £325 a ton for “sound” shell, and £221 and £125 for inferior grades.
The average price last season was be tween £450 and £475 a ton.
Mr. Gerdau stated in Darwin on June 27 that the use of plastics after the war, when pearl shell was scarce, had created formidable competition for the pearl button industry. At present more shell was being supplied than could be used.
A leading Darwin pearler said that the new price would represent a drop of £l4O a ton on last year’s averages—a reduction
the industry could not stand in view of the high cost of labour and the shortage of compe tent divers. He be lieved that, on this price, many pearlers would be forced to sell their shell to sterling area buyers.
Most of the produc tion was now being sold for dollars, but it is understood that, under the new ar rangement, under certain conditions, pearlers may sell to sterling buyers.