No Major Copra

Decisions

Planters' Hopes Regarding MOF Contract

THE export levy on copra exported from Papua-New Guinea is regulated by the Customs Tariff Ordinance, just issued in Canberra.

The levy is substantially the same as before, except that the deduction for the stabilisation fund is sub stantially reduced.

The Territories Minister, on November 1, said that marketing arrangements in relation to Papua- New Guinea copra, including the stabilisation fund, are “still under consideration.”

They have been under considera tion for months. Nothing yet has been done to fix the future of the Stabilisation Fund, now well in ex cess of £1,000,000; nothing seems to have been done to secure revision of the MOF contract price, due for renewal within three months; and the copra millers of Australia still are getting New Guinea copra at a favourable rate based on the MOF contract, instead of paying world market rates for it, as their com petitors are obliged to do.

Consideration of these matters has been promised by a succession of Ministers and high officials, to a succession of planters’ deputa tions.

Now that the British Socialist Government is out, South Seas planters hope for some review of the MOF copra contract. Prospects are not bright. Britain is in very serious economic trouble now, and the Conservatives will not do any thing likely to increase her over seas indebtedness.

New Price In Australia

It was officially announced, on November 7, that the price charged Australian millers by Production Control Board for New Guinea copra had been revised, to provide among other things for increased freight rates and for a higher charge for top grade (Plantation Hot-Air). The new prices are:—

LONDON, Oct, 4—Copra prices are steady at £9O to £95 per ton, cif.

Straits, £94; Philippines, 220 dollars, cif; Dutch East Indies, Coprafond selling freely to Continent; Ceylon —no business. Coconut Oil—Straits, £l3B/10/-; Ceylon, £l4l, cif.

Per Ton £ s d Plantation Hot-Air 76 0 0

Fms

75 0 0 Smoke-Dried .. .. 74 7 6