Islands Produce

(Unless otherwise stated, quotations are in Australian currency)

Cocoa

ISLANDS cocoa prices are usually based on the ruling rate for Accra cocoa (West Africa), quotation for which in early January was £3OO Stg., c.i.f. (equivalent to £375 Aust.).

Quotation supplied by Colyer Watson Ltd., Sydney.

Pacific cocoa beans were quoted (sellers) nominally on the Sydney market in January at:— New Guinea: £325 Aust. per ton, ex wharf New Hebrides: £330 Aust. per ton, ex wharf.

W. Samoa: Sydney agents reported in early January that the price of Samoan cocoa dropped another £25 Samoan per ton during the month—to £260 Samoan (Aust. £325) per ton. (Samoan currency equals Sterling.)

Trochus Shell

Nominal Sydney quotations in January were: Thursday Is., £l6O per ton, f.0.b.; New Guinea, £l9O per ton, c.i.f., Sydney; Solomon Is., £200; Fiji, £F9O (£AIOI/14/-) per long ton on the beach at Suva; New Caledonia, approximately 14,000 francs per ton, Noumea. Agents report the market as “most erratic.”

T Coffee

Nominal quotations are:— New Caledonia: Production exported to France at above normal rates (equivalent to £A425 per ton far Arabica. £A375 for Robusta).

New Guinea and Papua: Nominally £375 to £4OO per ton (c.i.f.), according to quality.

Vanilla Beans

Papeete merchants recently quoted 325 francs per kilo for French Oceania vanilla beans.

Recent price for Tahiti beans quoted in Syd ney (by J. C. Merrillees Pty., Ltd.) was: White Label, 12/6 per lb., c.i.f, Sydney.

Rice

Price of rice shipped from Sydney to Islands ports was fixed on May 1 for the 1950-51 season at: £5O per ton White and £54 per ton Brown.

Green Snail Shell

A nominal quotation in Sydney in January was at £l5O per ton, c.i.f., for f.a.q. shell.

Pearl Shell

By a term contract between the Otto Gerdau Company (USA) and the majority of Torres Strait pearlers, TI shell prices were fixed in 1949 (for three years) at: Sound grades, £A325 per ton, f.0.b., TI; “D” grade, £A225; “E” grade, £AI25 —all plus bonuses.

The 1950 Torres Strait pearling season re opened in May. Purchase price for the independent pearlers’ output, after negotiation with overseas buyers, was finally set at approxi mately: £ASBO per ton for Sound grades, £A465 for “D” grades and £A34O 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, £47/17/6 (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, and the above prices come up for review in March —they are expected to rise by around £5.

Fiji.—From January 1. 1951: £55/5/- Fijian per ton, FMS (1950: £FS3/14/3 per ton). Fiji

has a 9 years’ contract with UK Ministry oo Food for all copra exported.

New Hebrides.—Price at Vila and Santo durim 1950; £52 Aust. per ton.

Western Samoa.—Producers in 1950 receivef £45 Samoan (par with Sterling) per ton, o: which £3 was held for a Stabilisation Fund) under a 10 years’ contract with the UK Foo< Ministry.

Solomon Is.: Producers receive £ASI per ton f.0.b., for copra shipped from Honiara or Yam dina ports (based on £53/15/- Stg. MOP price) Fr. Oceania.— Papeete merchants recently haw paid 9,350 Pacific francs per 1,000 kilos foe Tahiti copra.

Rubber

Sydney trading firms use the London am Singapore day-to-day quotations as a basis whe:; buying Papuan rubber. Overseas prices in earll January recovered slightly after a drop in De cember from the record November levels. Thr rate on January 12 for No. 1 grade RSS was:— Spot: Nominally 59V2d. Stg. per lb., c.i.f., Lon; don (equivalent to 74%d. Aust. per lb.); SingaE pore, RMA No. 1 213 cents per lb., f.o.b.