1956 Copra Prici

MOF Negotiations

OOTH Papua-New Guinea as

Fiji have announced

tentative price for copra in 19h

based on a fall of approximate

10 per cent, on the 1955 prices Negotiations between the Britt Pacific countries and the Unit Kingdom Ministry of Food had : been finalised by January 10, most producers that MOF will, this year, demand full permissible fall. (Under agreement, prices must not risee fall by more than 10 per cent. , the price of the previous year)..

The price for 1955 was based J £Stg.6s fob, Islands ports. Fn this the various Pacific governm© deducted export taxes, stabilisatt fund levies, etc. The 1955 price T 7.14 per cent, lower than the II price.

If the full 10 per cent, fall accepted for 1956, the new price T be based on £Stg.sB.lo per I Islands ports. During 1955, t market price of copra has be consistently lower than MOF prr (See Dec. PIM, page 13).

January 8, Straits copra was quo at £Stg.6s, c.i.f. London.

In January, the Papua-M Guinea Copra Marketing Board formed planters that until negotiations between the MOF ; the producing countries were co; plete, it would pay £A62.10 per for hot-air dried copra. 1955 p:c for the same grade was £69.15 ton.

Fiji is tentatively paying at rate of £57 Fijian (equivalent d over £A64) per ton for first grn copra. This is slightly higher tl; the P-NG tentative price, the bet? rate being made up from pro held by the Fiji copra board.