Trochus Slumps

Market Moves

Cocoa Up, But Trochus Slumps

THE world cocoa market has shown a steady rise in the last two or three months. Main reason is because the Brazilian Gov ernment has fixed a minimum price, and has also announced that it will buy and store a large quantity.

By June 10, the Sydney price, ex wharf, had climbed to £A245, and was expected to rise further.

The new season’s crop in Western Samoa was starting to come in, late in May, and promised to be a good one. At that stage £Stg.2lo to £Stg.2ls was offered for first grade Samoan cocoa beans, f.o.b. Apia, and second grade was quoted at £Stg.2oo - a ton.

Trochus Slump

Two Sydney agents, on June 10. reported that Sydney stores were “full of trochus,” and there was no buyer interest. They said that the mam reason was that prices had been too high, and overseas manu facturers were using plastics for buttons.

One agent said it might be pos sible to do business below £4OO a ton, but even at that figure it would be difficult to find buyers. Manu facturers had plenty of stock and not enough button orders.

These two agents also reported a

slackening in the inquiry for green snail.

All grades of pearl shell showed a decline in value. t No. 2 Syndicate, c/- F. R. Stevens, New Guinea Company, Lae, New Guinea won fifth prize (£500) in a recent Queensland lottery.