Islands Produce
p. 120 · 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), quotation for which in July was £250 Stg., c.i.f. (equivalent to £312/10/- Aust.). Quotation supplied by Colyer Watson, Ltd., Sydney.
Pacific cocoa beans were quoted nominally on the Sydney market in July at; — New Guinea: Approximately £298 Aust. per ton, ex wharf.
New Hebrides: Nominally £ 305—supplies un available in Sydney at present, exports mainly going to France.
W. Samoa: Sydney agents reported in July
that ' the Samoah coeda price now is £295 Samoan < £368/15/- Aust.) per ton for first, grade. (Samoan currency equals Sterling.)
Trochus Shell
Nominal Sydney quotations in July were: Thursday Is., £l9O per ton, f.0.b.; New Guinea, £2OO 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.
Coffee
Nominal quotations are:— New Caledonia: Production exported to France at above normal rates (equivalent to £A4SO per ton for Arabica; £A4OO for Robusta).
New Guinea and Papua: Nominally £375 to £425 per ton (c.i.f.), according to quality.
Vanilla Beans
Papeete merchants recently quoted 325 francs per kilo for French Oceania vanilla beans.
Rice
Price of rice shipped from Sydney to Islands ports was fixed in May. 1951, at £6O f.o.b. for White. Unpolished and Brown. (On plantation in Papua-New Guinea, approximately £85.)
Green Snail Shell
Few parcels of Green Snail shell have been received by Sydney agents from Islands re cently—nominal quotation is 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.
Purchase price for the independent pearlers’ 1950-51 output by overseas buyers was set at around £ASBO per ton for Sound grades; £A465, *’D” grades; £A34O, “E” grades.
Copra
Papua - New Guinea. Production Control Board’s fixed price, delivered to ship’s slings or ANGPCB warehouses, as from March, 1951; At main ports, Hot-air Dried, £54/5/- per ton (at Kokopo, £52/17/6); Smoked, £53/12/6 (at Kokopo, £52/5/-). Official price (as from March, 1951) for Papua-New Guinea copra sold in Sydney to crushers: Hot-air Dried, £74/10/-; Smoked, £73/17/6. Australia has a 9 years’ con tract with Britain for the disposal of all Terri tories’ copra surplus to her own needs, and the above prices are based on the British MOF rate of £53/15/- Stg. per ton.
Fiji.—Prom January 1, 1951: £59/10/7 Fijian per ton, f.0.b., Suva—producers receive £FS4/10/6 per ton for plantation grade and £FS4/5/- per ton for FMS grade, at Suva or Levuka. Fiji has a 9 years contract with UK Food Ministry.
New Hebrides.—Price at Vila and Santo is approximately £BO Aust. per ton.
Western Samoa.—Producers receive £45/11/- Samoan (par with Sterling) per ton, f.0.b., Apia
—based on an MOP rate of £53/19/- Stg. per ton, less £5/7/11 Samoan Export Duty and £3/0/1 Copra Stabilisation Fund.
Solomon Is.: Producers receive £ASI per ton, f.0.b., for copra shipped from Honiara or Yan dina ports (based on £53/15/- Stg. MOP price).
Fr. Oceania.—Papeete merchants pay 14,900 Pacific francs per 1,000 kilos for Tahiti copra (about -£ 106 Aust. per ton).
Rubber
Sydney firms use London and Singapore quo tations as a basis to buy Papuan rubber. The world market price continued to ease during the month. Rates on July 3 were: No. 1 grade, RSS (sellers) Spot 45d. Stg. per lb., c.i.f., London (equivalent to 56V4d. Aust. per lb.); Singapore, RSS No. 1 (sellers) 143 cents per lb., f.o.b.