10 Per Cent. More
p. 17 · Read in the full issue
For Copra This Year
Australia Is Confident
Sydney, Feb. 9.
Discussions between the British Ministry of Food and the various British Adminis trations in the South Pacific, con cerning the 1954 price of copra mder the MOF contract, are still joing on. A decision should be •cached at any time.
Australia is so confident that here will be a 10 per cent, increase, is from January 1, that it has fixed ;he price to Australian crushers at 199 Aust. per ton for hot-air and lun-dried, and £9B per ton for imoked —an increase of £8 per ton.
This is based on Minister Has uck’s belief that the new MOF ;opra price will rise by 10 per cent, rom £65 Stg. f.o.b. Territory ports o £7l/10/- Stg. It has been agreed hat, if that is not the new price or 1954, adjustments will be made rith the crushers accordingly.
Planters generally may expect he higher price in 1954. The world’s copra quotation remains irm, at a figure around £9O Stg. •i-f- European ports—which is in xcess of £7l/10/- Stg. f.o.b. Pacific iorts (which is the highest figure o which copra may go, in 1954, inder the MOF 9-years contract).
The copra prices reported in Lon on on January 29 were, per ton, cif luropean port: Straits £94/10/-Stg.; ffiihppines, 247 US dollars; Indo esion, 99 guilders per 100 kilos— rise of about 3 per cent, in 6 reeks.