CMB Chairman To Report
p. 23 · Read in the full issue
Copra After
1957 CMB Chairman To Report To P-NG Growers
Papua-new guinea copra producers later this month will have some idea of what marketing conditions are likely to be after the MOF agreement ends in December.
In an interview with PIM on August 8, in Sydney, the chairman of the P-NG Copra Marketing Board, Mr. lan McDonald, had nothing to say on the negotiations that were proceeding in London in June. Mr. McDonald was on his way back to New Guinea from London and said that he could make no statement until he had held a meeting of the Board in Port Moresby. He expected this meeting to be held on August 19 or 20. ! “There is no doubt that there is a market for copra at ruling free market prices,” he said. “The general opinion in England is that copra from New Guinea is of a
quality somewhat above average compared with Malaya and the Philippines.
“It will sell at a premium over and above that copra, but whether the premiums offered are considered reasonable is a matter of opinion.
“Wherever I went there, the matter of grade quality was always pressed, and not only quality, but the percentage of dust.
“They want producers to eliminate dust, mainly because of the high percentage of free fatty acid in copra.”
Referring to prices Mr. McDonald said that for perhaps the last 12 or 18 months open market price had ranged between £Stg.63 to £Stg.66 a ton, c.i.f., delivered weights, UK and Continental ports.
“It is very doubtful if there will be any worthwhile increase in these prices unless there is a con siderable change in present world affairs”, he said.
“This price is, of course, some what less than that enjoyed by British producers selling under the MOF copra agreement.”
Mr. McDonald was in London from May 21 to July 1. He had discussions with oil seed crushers and also a series of conferences
with the Colonial Office. These conferences were attended by representatives of other Pacific copra interests.
He attended the annual congress of the International Oil Seed Crushers’ Association at Rapallo, in northern Italy. Apart from oil seed crushers and brokers, oil seed pro duction interests from various parts of the world, including the UK.
Continent, US, Japan and the Philippines, attended.