Cocoa Prices Slump
p. 21 · Read in the full issue
r:E price of cocoa was still dropping in early April and on April 9, Accra was quoted in Sydney at £Stg.lB7.
Producers are watching the market anxiously and at present there is no indication whether this is just another such brief recession as that which occurred in 1949-50, or whether it is a real pointer of things to come.
Cocoa prices fell lower than this in 1949 —but shortly after were rising in spectacular fashion, reaching a peak of £673 Australian during 1954.
The reason for the present fall is hard to find. Consumption still outstrips supply—but cocoa and its products are items that can be taken or left at will by the consumer, and presumably buyer resistance has most to do with the present slump.
H A daughter (Sanda Lynette) was born to Mr. and Mrs. Gordon Carter, at the European Hospital, Port Moresby, Papua, on March 13.