Papua-N. Guinea
p. 84 · Read in the full issue
More Copra Money
For
AS about one-third of the copra produced in Papua-New Guinea now is consumed in Australia, there was considerable interest in the latter’s Territories when the Terri tories Minister, on April 30, made this announcement: “An increase in the shipping freight rates for copra from Papua and New Guinea to Australia, from May 1, 1952, necessitates a revision in the prices of copra supplied to Australia. The new prices will be (per ton, ex-ships’ slings, Sydney): Plantation hot air, £9l/15/-: F.M.S. £9O/15/-; Smoke-dried £9O/2/6.”
All the P-NG copra not consumed by Australia is taken by Britain under the 9-years Ministry of Food contract at a price returning the planter £6B-£69 Aus. per ton. But the copra sold in Australia gives him an even better price; and the new price of around £9l should net some thing more than the MOF rate.
The world copra market remains low and lifeless. But the coconut planters in the British islands are well protected, for a year or two, by the once-criticised MOF contract.