Islands Produce

(Unless otherwise stated, quotations are In Australian currency. Aust. £ equals approximately 16/- Stg., NZ, or W.

Samoa; 18/- Fiji; 20/- Tonga. Solomons & MPHC areas; 168 Pac. Frs.; SUS 2.20-2.30.)

Copra

The British Ministry of Food 9-years Contract, which governed Copra prices in Papua and New Guinea, Fiji, Western Samoa. Solomon Islands, and Gilbert and Ellice Colony (and. to some extent, in Tonga grid Cook Islands) expired on De cember 31. 1957; since when each Terri tory has made its own arrangements for collection and marketing of copra.

PAPUA-NEW GUINEA:—AII production

is delivered to Copra Marketing Board, controlled by Government; and the Board directs distribution and sales, and makes payments to the producers. Production goes mainly to (a» Unilever (under con tract covering 1958), (b) Australia (for local consumption) and (c) crushing-mill in Rabaul. Prices generally arranged in accordance with ruling rate in Philippines market. Unilever price; Manila FM grade rates, with premiums up to £3A per ton for hot-air dried.

“Tentative” Price For New Guinea In January, P-NG Copra Board an nounced “Tentative Prices”, from January 1, for copra delivered at main ports: Hot- Air-Dried. £A47 per ton; FM Standard £46; Smoke-Dried, £45/7/6.

It is presumed that, as stated, all copra goes into P-NG pool, from which Rabaul mill, Unilever. Australia and General Market will be supplied: and that final adjustments with producers will come later. (See Philippines quotation, below).

FIJI:—No Government control—producers sell where they wish. Bulk of copra goes to crushing-mill in Suva, whose price on wharf, Suva, is announced each week.

WESTERN SAMOA;—official Copra Board receives all production, and sells same and makes payments to producers Large proportion goes to Unilever, at Philippines FM grade rates, plus pre miums up to 50/- Stg. per ton for hot air dried.

TONGA:—Sales are under Government control. Part of production goes to Europe under arrangement with Unilever con trolled by Philippines prices, and part on to open market.

Solomons And Gilbert And

ELLICE: —All production marketed through official Copra Board, at prices based on Philippines market.

E. SAMOA:—Producers receive 4 cents lb. (SUSB9.6 or £A4O approx, per long ton).

Periodic bonus, if average proceeds exceed Govt, buying price and expenses.

New Hebrides:—Jan. 9: 7,450 Pac

francs (about £A43/11/4) delivered Vila/ Santo.

COOK ISLANDS:—LocaI price is based on £ Stg.s4 (£NZS4/4/D per ton, f.0.b.. with premium of 30/- (NZ) for top grade kiln dried. Shipping, handling, shrinkage and storage charges reduce the outer islands price to about £NZ3O per ton, basic rate.

COCOA:—lslands prices are based on the

rate for Ghana cocoa which on Jai was £Stg.3os per ton, c.i.f. Lon (Market expected to fall).

P.-N.G.:—Jan. 9. Situation in stat« flux following falling London prices N mal quote £A3SO (and fallingi.

W. SAMOA;—Jan. 9. No sales s Christmas period; Nominal unchanged £ Stg.3lo.

COFFEE:—p.-NG.: Jan. 9: Top gr 5/- to 5/6 per lb., but hard to sell; ; plies of overseas coffee plentiful s recent easing of Aust. import restrict on coffee.

Peanuts:—P.-N.G.. Jan. 9: Ker

1/10; Virginia bunch, in shell la well cleaned, 1/3 per lb. del. Sydney RUBBER:—P.-N.G. price is based Singapore rate, which on Jan. 8 \ No. 1 RSS. spot, 81.12 Straits ce

(28.16 d Aust. approx.) per lb.

VANILLA BEANS: Victor Karp, Tull Co., Sydney, reported on Jan. 9crop, c.i.f., Sydney, Tahiti White Yellow label, processed standard ps 61/9, Green 59/9 per lb.

RICE (Australian):—Price from Maj 1957—P.-N.G.: Dry brown and dres 112 lb bags, 5 tons and over, £6l ton, f.0.w.; under 5 tons £6l/10/ton. Vitamised and enriched white, lb bags, 5 tons and over, £67/10/ton. f.0.w.; under 5 tons, £6B per Other Pac. Islands: Dry, brown, etc., per ton, f.0.w., Sydney or Melbourne.

PEARL SHELL.—Jan. 9, 1958, quota' by independent pearlers: Sound, £A’

D, £ A 585; E, £A4OS: EE, (in store Sydney). Cook Is.-Manihiki: t 9: Export price, £Stg.72s f.o.b. Rs tonga.

TROCHUS:—Market still very we and tending to weaken further. Qui nominal, NG, £A325; BSI, £A3IS; I Hebrides, agent reports “No bush during past month”. Prices are less jects and based on Sydney weights.

GREEN SNAlL:—Difficult to g nominal price £A2BO.

London and US Quotations

Copra:—London. Jan. 7: Philippines; bulk Jan.-Feb. $lB9 (seller) Straits/Bon fair merchantable del. weight. c., UK/Nts European port, Dec.-Jan.. £ Stj (nominal). New York Jan. 7: Philippn c.i.f. US Pac. port, per ton $lBO ask On January 13. the quotation for Philippines copra, FM grade, ' $U5190.50, GIF, British or European p< (On January 13, £1 Australian ■ about equal to 2.31 US Dollars. SUSI9O therefore was equal to £AB4/13/9, wb is £37 more than the amount allot provisionally by the P-NG Copra Bos The deductions from that would be freil (£l3/10/- per ton), insurance, handli shrinkage, export duty, and stabilisatt fund tax—perhaps £25 per ton. Th is no indication yet of how the Bot will market the copra, and when ff adjustments will be made.) Coconut Oil:—London, Jan. 9: Strat crude, bulk c.i.f. Jan.-Feb. £Stg.lol (no inal), Ceylon in bulk, c.i.f., fair UK-I Euro, ports, Jan.-Feb. £Stg.llo per t Rubber: —London, Jan. 8; RSS No.

Spot, 237/Bd. to 24d. Stg. Dec. 1958, 2 to 23Jd. per lb.