Copra Outlook

General Fall of Ten Per Cent Likely in Coming Year

THE free market price of first class copra has been varying between £6O and £7O stg. per ton cif, European ports.

Philippines copra, during the past three months, has ranged between 170 and 185 US dollars, per ton, cif., European ports.

Indications are that there is a slight easing in the world price of copra, and it is expected that the 1950 guaranteed price of the British Ministry of Food—which regulates the market now in all British and Australian Pacific Territories— will be down about 10 per cent, on the 1949 figure, which was around £4B Stg. per ton, on wharf, Island port,—equal to £54 Fijian, and £6O Australian. With local Governmental deductions, this has worked out at about £49 per ton Fijian, and £4B per ton Australian in the pockets of producers.

As there is a change of Government in Australia, Papua-New Guinea copra producers should make a strong appeal to Canberra to forego some of the heavy and, as yet, unjustified deductions made by Canberra from the British-guaranteed price—deductions equal to at least £l2 Australian per ton. Papua-New Guinea planters in 1950 should get another £4 or £5 per ton from the Australian Govern mental authority, and this would suffice to take care of the expected reduction of 10 per cent, in the British-guaranteed price.

PLANTERS also should make a de termined effort to obtain something official from Canberra about the so-called Stabilisation Fund. There must now be a huge sum there —some estimates ex ceed £500,000 —and it belongs to the planters, who have contributed to it at the rate of from £5 to £8 per ton.

Socialist Minister Ward has stubbornly refused to give any information to the planters about what is actually their own money; but a non-Socialist Minister will not be actuated by hatred of private enterprise and profit, and will give reasonable information about the Fund.

There has been no need of a Stabilisation Fund since Britain gave the 9-years’ guarantee, at the end of 1948.

Some planters expect that the Stabili sation Fund will be distributed among planters, in proportion to their tonnage contribution to the Production Control Board. Others favour the idea that, if and when copra prices fall below a designated figure, the fund should be used

to give producers a bonus of so much per ton of copra supplied. But whatever system is favoured, it is only fair and just that there should be some indication

of policy.

Mr. Ward’s system, of simply grabbing so much per ton from the planters, and hiding it away, without any indication of plan or purpose, is completely typical of Socialism, where the State is the ruthless dictator, and the individual does not matter.

There are indications that the Papua- New Guinea Production Control Board is being prepared for winding-up. Accord ing to Mr. Ward, that was to have taken place a year ago. But, after December 10, the removal of that particular limb of bureaucracy may be somewhat hastened.