Papuan Rubber
p. 19 · Read in the full issue
Koitoki Shows Loss Buf Prices Rise in UK
A LOSS of £367 for the year ended June 30, 1949, was disclosed by Koitaki Para Rubber Estates Ltd., of Papua.
In the previous year a profit of £4,164 was made.
At the end of the year under review, all Papuan rubber producers were en gaged in a price-war with Australian manufacturers who had refused to take No. 1 grade rubber at No. 1 grade prices.
No rubber was shipped from Papua for about five months, during which time about 800 tons accumulated in store. In August the Australian Government ar ranged to buy Papuan rubber at Singa pore prices (13.1 pence first grade) and sent an expert to investigate the position.
The results of the investigation have never been disclosed. At the time, Papua rubber planters said that cost of produc tion in Papua was far above Ist Grade Singapore prices. Koitaki in their balance sheet disclose that cost of pro duction was about 15d. per lb. in the year under review. In the previous year it had been only 11.67 d.
Since June rubber prices have tended to rise. Rubber has recently been selling in London for 15.5 d. stg. per lb. —the highest price for 21 years.