P-Ng Planters

Another £3 For

But Stabilisation Fund Continues

Papua-new guinea planters are to get £3 per ton more for their copra, from August 1. and the deduction from their returns for the Copra Stabilisation Fund, formerly £5 per ton, will be reduced to £2. The Australian Territories Minister, Mr. Hasluck, announced this in Moresby on July 25. Al though the PNG Stabilisation Fund is now far over £1,000,000, it will continue.

Copra marketing was the subject of a submission the Minister made recently to the Australian Cabinet.

He said he was guided largely by the view that the long-term in terests of the industry and of the Territory would be best served by assurances of stability at a reason able price level. He also had to recognise the fact that Britain had contracted to purchase the whole of the export surplus, subject to the reservation of Australian home con sumption requirements, for nine years from March 1, 1949.

The Government intended to keep the Australian market open for normal supplies of PNG copra dur ing the period of the UK contract.

Irrespective of any downward trend in the open market prices, the Ter ritory copra crop should be guaran teed its market both in the UK and in Australia for the next seven years.

Copra would continue to be sup plied to Australian crushers at the British contract price.

Representations made by planters regarding their claim for an ad justment of the British contract price in view of Sterling devalua tion, would be the subject of further discussion with the authorities concerned.

The new price paid by the Produc tion Control Board from August is £57 per ton (a net increase of £2/15/- per ton on July prices, after allowing for additional export duty and contingencies).

The discount of £l/7/6 per ton for Kokopo copra, transhipped to Rabaul, and 12/6 per ton on smoked grade, continues unchanged.

Mr. Hasluck is seeking the views of the industry regarding long-term marketing and stabilisation plans, and has asked planters’ associations to supply more detailed information regarding their costs of oroduction, to assist him in future discussions.

Madame Mary Jane Lloyd, of Sydney and England, was married on June 14, at the Temple, Noumea, to Captain Charles G. Legras, of Noumea, New Caledonia.