Fluctuating Prices
pp. 32-33 · Read in the full issue
Cocoa Position: Planting Boom and Fluctuating Prices
rE cocoa-planting boom con tinues in the South Pacific and there is, at present, scarcely one island territory that. isi no either planting up or planning tc d °ViSting Fiji and Western Samoa in October were Mr. Paul Cadburj
vice-chairman of the chocolate firm of Cadbury Bros. Ltd, and his nephew Mr. Adrian Cadbury. They will later visit Australia, and cocoa growing areas in new Guinea.
There was considerable fluctuation in the cocoa market in early November. On November 2, Accra was quoted at £Stg3Bs, on November 4, at £Stg4o7 (equal to Australian £510), New Guinea was quoted on November 4, as around £A42O.
However, at this quote the price obviously had not caught up with the steep rise in Accra.
Australian manufacturers in November were not interested in Accra at £ASIO; they were waiting to see if there were further fluctua tions. This is the slack season for Australian chocolate manufacture.
The Accra crop is expected to be larger than at first expected but according to advice from New York, heavy Russian buying could be a new factor in skyrocketing prices— although, so far as the United States is concerned, a likely result would be a speed up in research for a substitute for the cocoa bean.