Cocoa Prices Inclined To Fall

Apia, Dec. 27.

COCOA producers and exporters are anxious about the state of the cocoa market, which is practically stag nant at present. Offers obtainable range between £230 and £250 per ton, 1.0. b,, Apia against £270 and £2BO about 4 weeks ago.

Even at the lower rate, few sales were effected. USA buyers do not seem to be active.

Large quantities of cocoabeans are coming in from the new large seasonable crop.

The decline may be due to the holiday interval, when factories are closed.

War Fears Affect Markets

London. Dec. 9.

WITH main crops coming in, cocoa prices have declined. This is made worse by the political news. All markets are in a highly nervous state, and subject to rapid fluctuations.

Cocoa and chocolate industries in UK are now free to buy raw cocoa as they wish. The manufacturers have opened a panel, to negotiate the basic cocoas for them, to the extent of 75 per cent, of their basic requirements, up to September, 1951.

For the other 25 per cent, they may buy where they like. The bank of New Zea land’s produce circular quotes (in sterling)'for cocoa as follows: British West Africa £260-£265 cif main European ports.

Bahia —£267, fob.

British West Indian—Plantation Trini dad, £295—£330, fob. Grenada, £285-£295, fob.

West Samoa—£2soi-£270, fob. Shipping position with Europe is difficult.

Ceylon—Little buying interest. 218/to 294/- per cwt, according to grade.