[?]Pra Falls 7½%

[?]Ter Than

Detected

fH the year more than half jone, the 1957 price for copra sold under the British Ministry od Agreement was finally an ted on July 3. forecast in June PIM, produc id a little better than an ted and the fall from the 1956 is 11 per cent., and not the ,0 per cent, allowable under greement, and tentatively put effect by most of the local -marketing authorities early ear. view of the fact that “free it” price is currently around 3 c.i.f. European ports, Islands cers may consider that they lone well, although they have d wait an extraordinary long ;o find out that they have, price will be based this year ,ast year of the Agreement) 5tg.54 f.o.b. Island ports, or - in Australian currency, n this amount, the Islands istrations deduct various its for export taxes, stabilisa funds, etc. Therefore, the its actually paid in the dif territories vary considerably, has announced that the price or copra will be £FS2/5/6 for ition Grade; and £FS2 for This amount is calculated to nsate growers for the fact luring the last four months legotiations were taking place, vere paid on the assumption he fall would be the full 10 it. It also includes an amount balances previously accrued.

Fiji Copra Board will go out itence at the end of this year the MOF Agreement) and has iced that it will review the matter of copra prices in Sep * as it does not wish to end istence with either a debit :edit. d on the 1956 price actually to Papua-New Guinea pro , the 11 per cent, fall should that the price for the three , Hot Air, FMP and Smoked, 3 (approx.) £57 16/-, £57/2/-

and £54/11/4 respectively. (1956 prices were £62/10/-, £6l/15/-, and £59).

Producers can, however, expect additional benefits. It was announced in mid-June that final prices for 1956 had been fixed at £2/16/6 higher than actually paid. This was due to satisfactory trading results.

And under legislation recently passed by the Legislative Council, the Board will be able to pay to producers, on a pro rata basis, profits on trading for the years as lar back as 1952. These profits have been held as reserves.

London Talks

Talks between representatives of South Pacific producers and UK oil millers are proceeding in London < PIM, June p. 25), but no announce ment had been made on progress up until July 10. - A RNZAF Sunderland flying-boat from Laucala Bay, Fiji, dropped a replacement part over the Raro tonga airstrip on July 3 for the frigate, HMNZS Pukaki. Pukaki, on her way from Christmas Island to Auckland, had a breakdown in her water distilling plant.