Cheaper Copra Sacks
p. 18 · Read in the full issue
THE most sensational price de velopment in the Pacific Islands during the month was the fall in the quotation for jute copra bags.
The movement first began early in June, when it was discovered that the suppliers of jute in Pakistan and India, disturbed by an unex pected holdover from the old crop, were cutting their price by from £4O to £5O per ton. Some Indian interests tried desperately to hold up the price, but with a large hold over in sight, plus a large new crop coming in, the market collapsed. It was a severe blow to many Euro pean manufacturers, who had large stocks based on last year s prices.
It is expected that for the remain der of this year jute bags will reach copra producers at prices equal to little more than one half the high prices of early 1952. Even then, they are several times the price they were in 1940.