Islands Produce
p. 115 · Read in the full issue
(Unless otherwise stated, quotations are In Australian currency)
Cocoa
ISLANDS cocoa prices are usually based on the ruling rate for Accra cocoa (West Africa), mid-July quotation for which was £270 Stg., c.1.f., Amsterdam (equivalent to £337/10/- Aust.). Quotation supplied by Colyer, Watson Pty., Ltd., Sydney.
Pacific cocoa beans were quoted on the Syd ney market in July at:— New Guinea; £A255 per ton, ex wharf.
New Hebrides: £A26O per ton, ex wharf.
W. Samoa: Prices have risen during the month. one Sydney merchant quoting at £337/10/- (£270 Samoan) per ton, f.0.b., Apia. (Samoan currency equals Sterling.)
Trochus Shell
Nominal Sydney quotations are: Thursday Is., £lOl per ton, f.0.b.; N. Guinea, £BB per ton. c.i.f., Sydney; Solomon Is., £95; Fiji. £P7O ( £ A76/7/3) per long ton on the beach at Suva; New Caledonia, 14.000 francs per ton, Noumea.
A TI firm is offering £l2O per ton for trochus.
Coffee
Nominal quotations are:— New Caledonia: Production exported to France at above normal rates (equivalent to £A4OO, per ton for Arabica, £A3SO for Robusta).
New Guinea and Papua: Nominally £350 to £370 per ton (c.i.f.), according to quality.
Vanilla Beans
Papeete merchants quote 325 francs per kilo for French Oceania vanilla beans.
Prices for Tahiti beans quoted in Sydney (by J. C. Merrillees Pty., Ltd.) are White Label, 16/6 per lb., Yellow Label, 15/6 per lb., both c.i.f., Sydney.
Rice
Rice shipped from Sydney to Islands ports has been price-fixed at: New season’s crop, £5O per ton White and £54 per ton Brown.
Green Snail Shell
Nominal quotations in Sydney are at £65 per ton, c.i.f., for f.a.q. shell.
Pearl Shell
By a three-years’ contract between the Otto Gerdau Company (USA) and the majority of Torres Strait pearlers, TI shell prices were fixed in 1949 at: Sound grades, £A325 per ton, f.0.b., TI; “D” grade, £A225; “E” grade, £AI2S —all prices to be plus bonuses.
Torres Strait pearling season re-opened in April-May. Purchase price for the independent pearlers’ output has been the subject of much negotiation by overseas buyers’ representatives at TI recently—one firm has offered £ASBO per ton for Sound grades, £A465 for “D” grades and £ A 340 for “E” grades.
Copra
Papua - New Guinea. Production Control Board’s fixed price, delivered to ship’s slings or ANGPCB warehouses, as from May, 1950: At main ports, Hot-air Dried, £4B/10/- per ton; Smoked, £47/7/6 (subject to premium up to £l/5/- for superior grades). Official price (as from May, 1950) for Papua-New Guinea copra sold in Sydney to crushers; Hot-air Dried. £67/15/-; Smoked, £67/2/6. Australia has a 9 years’ contract with Britain for the disposal of all Territories’ copra surplus to her own needs.
Fiji. —From January 1, 1950: £53/14/3 Fijian per ton, FMS (UK Ministry of Food price).
Fiji has a 9 years’ contract with the British MOF for all copra exported.
New Hebrides.— Price at Vila; £59 Aust. per ton.
Western Samoa. —Producers receive £45 Samoan per ton (£3 held for Stabilisation Fund) under a 10 years’ contract with the UK Food Ministry.
Fr. Oceania. — Papeete merchants have been paying 9,350 Pacific francs per 1,000 kilos for Tahiti copra.
Rubber
Sydney trading firms use the London and Singapore day-to-day quotations as a basis when buying Papuan rubber. An average rate during July for No. 1 grade RSS was: 29’/2d. Stg. per lb., c.i.f., London (88% cents, f.0.b., Singapore), equivalent to 36 7 /sd. Aust. per lb.