Islands Produce

(Unless otherwise stated, quotations are in Australian currency)

Cocoa

Cocoa l>eans 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). Due to the strong demand for the new season’s crop (1949-50) and to the devaluation of the £ sterling in relation to the USA dollar, prices rose considerably during the month. It is reported that the Gold Coast Marketing Board, in Accra anticipates large sales to USA throughout this season.

Accra (quotation by Colyer. Watson Pty.. Ltd..

Sydney): October/December shipment, £147/10/- Sterling (equivalent to approximately £lB4/7/6 Aust.), c.i.f., Sydney.

Western Pacific cocoa beans were quoted on the Sydney market in mid-October at:— New Guinea: £145 per ton.

New Hebrides: £l5O per ton.

Western Samoa’s cocoa production normally goes to USA, where its distribution is controlled by the International Control Board. The price in Apia fell early in 19'49 to £lOO-£l2O Stg. per ton, f.0.b., but now is expected to recover under a stimulated American demand.

Trochus Shell

Irregular shipments are handled in Sydney by some Pacific Islands trading firms. Recent quotations were: Thursday Island shell, £65 to £7O per ton, f.0.b.; New Guinea shell, £64 per ton, c.i.f., Sydney; Solomon Islands shell, £65 per ton, c.i.f., Sydney. Difficult to sell.

Coffee

Overseas rates for coffee produced in British Territories and Colonies increased immediately the announcement was made concerning the de valuation of the £ stg. in relation to the US dollar. Pacific Territories prices for coffee ad vanced similarly. Nominal quotations are:— New Caledonia: Production is being taken by France at considerably higher than normal rates, (equivalent to around £250 Aust. per ton for Arabica and £2OO Aust. for Robusta).

New Guinea and Papua: Nominally £lBO to £240 per ton (c.i.f.), according to quality.

Java: No exports coming to Australia from Indonesia.

vanilla beans

Production of the main South Seas vanilla producer, French Oceania, mostly goes to USA.

Price for Tahiti vanilla beans (White Label) quoted on the Sydney market (by J. C. Merrillees Pty., Ltd.) is 8/6 per lb., c.i.f, Australian ports.

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

Quotations recently on the Sydney market were steady at £72 per ton, c.i.f., for f.a q. shell.

Pearl Shell

The contract for the 19*49-50 season, made recently between the majority of Torres Strait pearlers and the principal USA Mother of Pearl Shell buyer under which Thursday Island shell was fixed at prices ranging from £A325 to £AI3S has been made void by the recent de valuation of the Australian £. T.I. pearlers now are negotiating for a new contract at prices that will return them something like last season’s rates—namely, around £A4OO for top grade TS shell. The market at present is unsettled, with no firm quotations.