World Copra Market

British Agreement Producers Now Have Advantage

THE price of copra on the free market in the second quarter of 1952 fluctuated between £6O and £65 itg. c.i.f. Continent. Ceylon copra vas as high as £7O per ton.

More recently, however, the iverage price of copra on the Continent had fallen to £5B-£59 stg. >er ton, which is considerably lower han the price paid by the UK Ministry of Food to British producers covered by the Copra Agreement.

Jebrides Price Falls Again

At the end of September our Santo orrespondent reported that the f.o.b. >rice of copra at Santo, New lebrides was 6,400 francs—less than ’4B Australian, with no sign of an ipward move. Consequently, all 4ew Hebrides trade was dull and ome traders and planters were feei ng the economic squeeze very badly.

I number of smallship owners who ely on freighting are automatically nding fewer calls for their services, nd the whole outlook has developed ato a local depression, the end of (hich is not yet in sight.

Idjustment To P-Ng Price

From October 1, the price of hot ir dried copra delivered to the P -1G Copra Marketing Board will be ;duced by £1 per ton.

The present price of hot air dried £7O/5/-) was arranged with the MOF some time ago when the UK

agreed to pay £1 more for hot-air than sun-dried. However, hot-air copra from P-NG has not recently been of sufficiently good quality and the premium has therefore been withdrawn.

Prices (after October 1) are; Hot air and sun dried—£69/5/- (Aust); Smoke dried, £6B/5/- (Aust.).

The price for hot air copra sold to crushers in Australia will similarly be reduced by £1 and will now be £9l per ton ex ships’ slings.

The P-NG Copra Marketing Board is considering ways and means of encouraging planters to produce better quality copra. A Territories Department statement says that “measures will be implemented as soon as possible”.