Future Of Pacific

Copra Industry

WHILE in London, the Editor oi the Pacific Islands Monthly has been making a study or the factors which are likely to affecr the copra-producing and- coconm oil industries of the South Pacific) after the British Ministry of Fooo contract expires in 1957. Some in-j teresting developments are possible..

The result of these inquiries will be published in an article in ouu next issue (August).

All present indications are that the MOF price for 1956 will fall 10 per cent.; and, as seen from this distance, there may be a further fall in 1957.

But even if there is the full fall! of 10 per cent, in each year, per mitted under the contract, the price in 1957 to South Pacific Govern-, ments would be £53 or £54 Stg. FOB equal to £67 Stg. GIF London, whiclt was exactly the free London market quotation for FMS copra in midf June, 1955. In other words, the British Ministry of Food, whicW made millions on the contract in the early years, now is losing millions.

Details will be given in the article in August.