Islands Produce

(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 recent months.

Accra (quotation by Colyer, Watson Pty., Ltd., Sydney): Jan./Mar. shipment, £197/10/- sterling (equivalent to approximately £246/17/6 (Aust.), c.i.f., Sydney.

Western Pacific cocoa beans were quoted on the Sydney market in mid-December at;— New Guinea: £lB6 per ton.

New Hebrides; £l9l per ton.

The bulk of Western Samoa's cocoa produc tion goes to USA, where its distribution is controlled by the International Control Board.

The price in Apia fell early in 1949 to £llO-£l2O Samoan per ton. f.0.b., but now has recovered under a stimulated American demand. In December, Samoan beans were quoted at £2lO Samoan per ton, f.o.b.

Trochus Shell

Irregular shipments are handled in Sydney by some Pacific Islands trading firms. Recent nominal quotations were: Thursday Island shell, £65 to £7O per ton, f.0.b.; New Guinea shell, £64 per ton, c.i.f., Sydney; Solorhon Islands shell. £65 per ton, c.i.f., Sydney. The market at present is in a confused state owing to (a) the recent devaluation of the £; and (b) the calling of tenders by Japan for huge amounts of trochus shell.

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 higher than normal rates (equiva lent 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 at present.

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 in Sydney were at £72 per ton, c.i.f., for f.a.q. shell, with recent mar ket dull.

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 1949-50 season, the bonus was £A2S per ton. Last season’s prices were around £A4OO for first-class grades of Torres shell.

Independent quotation; Top grades. £A465 per ton; “D,” £A34O; “E,” £240.