Islands Produce
p. 106 · 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). Due to the strong demand for the new season’s crop (1949-50) and to the devaluation of the £ stg. prices rose consider ably during October-November. The Gold Coast Marketing Board, in Accra, anticipates large sales to USA throughout the season. Crop estimates for 1949-50 are in the vicinity of 220.000 tons for the Gold Coast and just under 100.000 tons for Nigeria.
Accra (quotation by Colyer, Watson Pty., Ltd..
Sydney); December-February shipment, £l7O sterling (equivalent to approximately £ 184/7/6 Aust.), c.i.f., Sydney.
Western Pacific cocoa beans were quoted on the Sydney market in mid-November at: — New Guinea: £lB6 per ton.
New Hebrides: £l9l 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 1949 to £lOO-£l2O Stg. per ton, f.0.b., but now is recovering 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 in September, following the announcement of the devaluation of the £ stg. Pacific Territories prices for coffee advanced 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
By a three-years’ contract between the Otto Gerdau Company (principal Mother of Pearl Shell buyer in USA) and the majority of Torres Strait pearlers, the Thursday Island shell prices were fixed, a short time ago, at: Sound grades, £A325- per ton, f.0.b., TI; “D” grade, £A225; “E” grade, £AI25 —all prices plus a bonus to be declared by the company. For the first portion of the 19'49-50 season, the bonus will be £A2S per ton. Last season’s prices were around £A4OO for first-class grades of Torres shell.
A Sydney MOP shell merchant, who returned from the north early in November, reported that some independent pearlers were receiving the following prices for their shell: Top grades, £A425 per ton; “D.” £A225; “E.” £AI3O; and that there is at present a good overseas demand for TI shell.