Copra Price Awaited

Future of “Stabilisation”

AN announcement will be made shortly by the Australian-New Guinea Production Control Board regarding the price to be paid to Papua-New Guinea planters for copra in the new contract year, which commences on March 1.

The British Ministry of Food contract price has been raised by 10 per cent., with the result that Fiji, Solomon Islands, and Gilbert Islands growers have been getting, since January 1 (when their contract year commenced) the equivalent of £53/15/- Sterling per ton, f.0.b., less local deductions.

The Australian (Papua-New Guinea) price also will be raised by 10 per cent, from March 1; and, if the three planters’ representatives on the committee which has been sitting in Port Moresby to deal with copra matters have had any success, the “stabilisation” deduction of £5 per ton will be wiped out. This would mean a probable rise to the producer of £lO per ton—£s representing the 10 per cent, rise, and £5 which formerly went to the Stabilisation Fund.

There has been a remarkable decline in the amount of Papua-New Guinea copra which is consumed by the Aus tralian crushing mills. Until 1950, this was about 26,000 tons per annum. It is now about 15,000 tons per annum. This is presumed to be the result of the de rationing of butter in Australia. For merly, both food-processors and house wives used a lot of margarine, in place of butter. Now, butter is being used.

Many shipments which formerly went to Australia from Territories ports are now going direct from the Islands to British ports, where the copra is taken under the MOF contract.

London Prices

London. Dec. 9.

THE bank of NZ circular to-day reports copra selling as follows: Straits—£lo6/10/- Stg. per ton, C.I.F. Europe. Supplies limited.

Philippines—Between 240 and 260 US dollars per ton, C.I.F. European ports.

£5L Aus. In The Solomons

Honiara. Jan. 7.

THE British Solomon Islands Protec torate Copra Board has announced that the 1951 price for copra at the main shipping ports of Honiara and Yandina will be £5l (Australian currency) per ton. This is based on the Ministry of Food price of £53/15/- sterling per ton f.o.b.

Negotiations are still in progress to ob tain a premium for better quality copra, and the Copra Board has emphasised that the price of £5l at main ports may be varied later in the year, when the question of different prices for different grades of copra has been considered.

Most 8.5.1. P. copra is still smoke-dried and, in the post-war effort to get back to maximum production, some poor quality copra has been shipped. Extra attention is now being paid to grading and to the general quality of shipments.

The former Burns Philp liner Marella (now called Liguria) with 930 Displaced Persons aboard drifted helplessly in the Indian Ocean 420 miles N-W of Perth for two days before being taken in tow on January 14, by the 7,000-ton freighter, Chandpara. The ship was sold to Pana manian interests a couple of years ago.

Marella was originally a German ship, acquired by BPs after World War I.