Generally Satisfactory Condition

Pacific Produce Markets Are in Generally Satisfactory Condition

SURVEY of Pacific -produce narkets in early October shows i generally satisfactory situa for British Pacific producers, i PRA: This commodity seemed ive taken at least a temporary for the better by early ber. London free-market prices down to about £Stg.63/10/- for ts and $l6B for Philippines i early in September. One io n given was increasing ppines production since late In comparison with the sh MOF price of £Stg.6s f.o.b.

Pacific ports, South Pacific icers have been “sitting pretty” lany months now.

CO A: This product continued lecline, partly for seasonal ns and probably partly because timates of a substantial Gold , crop and a satisfactory out for the coming Bahia main d Coast and Nigeria exporters

atlranged a sale of 30,000 tons to British manufacturers in August, for October-December shipment at £Stg.2so a ton, c.i.f. A further 30,000 tons in smaller lots had been sold by mid-September.

The Bank of New Zealand re ported in mid-September that there had been little recent Western Samoa business, and that sales were being complicated by a question of shipping charges where buyers designate ports of discharge other than destination of the copra

cargoes which are exported by the same vessels.

COFFEE : The question of possible exchange reform in Brazil, principal world producer, and the effect that it will have on coffee export prices, appears to be the dominating factor with this commodity. American buyers were operating on a day to-day basis in the hope that a possible readadjustment might operate in their favour.

London’s “Public Ledger” reports that as a result of last year’s high American retail prices, the consumer market there has suffered some damage. In 1953 coffee consumption a head of population was 16.7 lb.

In 1954 it fell to 14.7, and this year it is expected to be about

f lb, according to a US Depart it of Agriculture survey. •ROCHUS: Keen and apparently ng offers are being made for ific trochus at the present time, I to a world shortage. June to ober is said to be the off-season trochus fishing in some Pacific is, but undoubtedly anyone able )ffer prompt delivery to Sydney ihe present time can command ood a price as has been available some years. This high price is f to stimulate fishing, improve supply position—and, of course, it in a price decline eventually, en snail and other shells are in Jar demand.

ÜBBER : After reaching 431 d pound on the London market ‘September 22, quotations for 1 ribbed smoked sheet slowly ined to October 5, though most ■ces do not anticipate any )us decline this wear. Available llies of natural rubber are feted barely to meet demand.

Bank of New Z e a 1 a n d iders that the outlook for pro !rs is good.

INILLA : Following a recent of 590 cases of processed 11a to France and New York, jrdney buyer reported early in >ber that there now appeared to i shortage of Tahiti vanilla — taps at the prices offering as

compared with Paris-New York prices. Sydney offers for White and Yellow Label grades were down to 32/- a pound, with Green Label 27lower —a decline of 4/- all round on the previous month.