Copra Prices

Planters Under MOF Contract In Happy Position

London, Sept. 20.

COPRA quotations for some little time have been fluctuating be tween £65 and £7O Sterling, CIF, European ports. As this is about HO per ton under the price fixed by the British Ministry of Food contract (£7O per ton Sterling fob South Pacific ports) it would appear fiat the South Pacific planters got i lucky break in the later months )f 1953. when a keener world copra iemand produced higher rates, and he MOF was persuaded to raise the 953 price by 7i per cent.

No special reason is given for fie steady fall which has taken )lace since the beginning of the r ear (which also was the beginning if the 1954 MOF contract), but it appears to be connected with the luge supplies which came irregularly rom Indonesia and the Philippines.

The Philippines copra production, fliich goes largely to United States, 5 fairly constant; but the exports rom Indonesia, apparently as a re ult of the disturbed politico conomic conditions there, fluctuate ery much. However, Indonesian applies have fallen lately, with the ssult that in the past month the verage price here has risen from bout £65 to nearly £7O.

Coconut oil prices have been fall ig in sympathy, and the market at le moment is further depressed by ►utch-produced oil, and surplus ;ock from the British Ministry of ood, all offered at cut rates. Ceylon i asking £lO2 Stg. CIF and Singa ore £lO0 —but the demand is poor.

Cocoa Prices Down

The cocoa market was dislocated i mid-August when Brazil, follow ig a political upheaval, depreciated s currency and severely cut its flee for cocoa to the United States, flthin a week the world cocoa arket had reacted downwards. r est Africa made sales at £425 Stg. iv ton CIF Europe early in Sep mber, but withdrew from the arket when prices fell lower, nailer sellers reported sales at 10 and £4O0 —but since mid-Sep mber there are rumours of an her short crop and prices have nded to rise. Some Trinidad icoa has been sold from £495 down £4lO, Stg., FOB; and there are ports of Western Samoan sales at ices from £475 down to £4lO Stg.

DB.

On the foregoing figures, the lue of New Guinea cocoa beans ould be in the vicinity of £5OO, istralian, FOB.

The marriage took place nr . Mary’s Cathedral, Sydney, on ptember 18, of Miss Margaret Ann urray to Mr. Terence Patrick cManus, of the New Hebrides.