Ands Produce
pp. 159-161 · Read in the full issue
5 otherwise stated, quotations are stralian currency. Aust. £ equals imately 16/- Stg., NZ, or W. ; 18/- Fiji; 20/- Tonga, Solomons & areas; 168 Pac. Frs.; SUS 2.20-2.30.)
Copra
British Ministry of Food 9-years ct, which governed Copra prices ua and New Guinea, Fiji, Western Solomon Islands, and Gilbert and Colony (and. to some extent, in and Cook Islands) expired on De -31. 1957; since when each Terri is made its own arrangements for on and marketing of copra. (A-NEW GUINEA:—AII production rered to Copra Marketing Board, ed by Government; and the Board distribution and sales, and makes ts to the producers. Production ainly to (a) Unilever (under cen tering 1958), (b) Australia (for msumption) and (c) crushing-mill aul. Prices generally arranged in nee with ruling rate in Philippines Unilever price: Manila FM grade vith premiums up to £3A per ton -air dried. itative” Price For New Guinea anuary, P-NG Copra Board an . ‘‘Tentative Prices”, from January opra delivered at main ports: Hot ;d, £A47 per ton; FM Standard
noke-Dried, £45/7/6.
-No Government control—producers ; re they wish. Bulk of copra goes hing-mill in Suva, whose price rf, Suva, is announced each week.
ERN SAMOA:—Official Copra •eceives all production, and sells id makes payments to producers, proportion goes to Unilever, at les FM grade rates, plus pre up to £ Stg.3 per ton for hot d. Prices for first quarter, 1958 dried: £Stg.4s/14/-; smoke dried £Stg.43/19/-; No. 2: £Stg.42/19/-.
A: —Sales are under Government Part of production goes to Europe irrangement with Unilever con by Philippines prices, and part pen market. dONS: —AII production marketed official Copra Board, at prices n Philippines market. February Ist grade, £AS2/10/-; 2nd grade, /-; 3rd grade, £A4S/10/-.
RT AND ELLlCE; —Production 1 in Europe through official Copra at prices based on Philippines sss “stabilisation fund” charges, IGA:—Producers receive 4 cents lb. or £A4O approx, per long ton), bonus, if average proceeds exceed ying price and expenses.
Hebrides;—Mar. 3: 7,400 Pac
about £ A43/5/9) delivered Vila/ ISLANDS:—LocaI price is based .54 (£NZS4/4/l) per ton, f.0.b., mium of 30/- (NZ) for top grade d. Shipping, handling, shrinkage rage charges reduce the outer price to about £NZ3O per ton te. —lslands prices are based on the Ghana cocoa which on Mar. 7 g.343/15/- per ton, c.l.f. London. .: —Mar. 10: No. 1 quote £A4OO, de. No. 2 quote £A4OO-£A4IS de em quality.
MOA:—Last season’s supplies ex- Nominal, unchanged, at E:— P.-N.G.: Mar. 10: Top grade »/3 per lb. Hard to sell; sup
overseas coffee plentiful since asing of Aust. import restrictions ITS; —P.-N.G.: Mar. 10; Kernels store; Virginia bunch, in shell, 11 cleaned, 1/8 per lb. del. Sydney.
IR; —P.-N.G. price is based on s rate, which on Mar. 7 was: XSS, spot, 76.78, Straits cents Lust, approx.) per lb.
LA BEANS: Victor Karp, Tulk & ney, reported on Mar. 10: New .f., Sydney, Tahiti White and abel, processed standard packs en 68/6 per lb.
Australian): —Price from May 1. f.G.: Dry brown and dressed, igs, 5 tons and over, £6l per v .; under 5 tons £6l/10/- per imised and enriched white, 112 5 tons and over, £67/10/- per r.; under 5 tons, £6B per ton. :. Islands: Dry, brown, etc., £7O f.0.w., Sydney or Melbourne.
SHELL.—March 10 quotation indent pearlers: Sound, £A7SO; 50; E, £ A 375; EE, £A2OS Sydney). Cook Is.-Manihikl: Export price, £Stg.6oo (approx.) otonga.
US:—Market still weak. Quotes NG, £ A 325; BSI, £A3IS; New agent reports “No business Prices are less rejects and Sydney weights.
SNAIL:—Ist quote: Ist quality, nd quality, £A2BO. Subject to of market. 2nd quote; £A2BO price.
on and US Quotations
-London, Mar. 7: Philippines in -Apr. SUSIB6 (seller). Straits/ air merchantable, del. weight,
Tlth. European ports, Mar.-Apr’
nominal). New York Mar 7ked. ruary, £1 Australian was about •25 US Dollars.) Oil:— London, Mar. 7; Straits, k c.i.f. Mar.-Apr. £Stg.99/6/-; bulk, c.i.f.. fair. UK-Nth. Euro r.-Apr. £Stg.llo/6/- per ton. -London, Mar. 7: RSS No. 1. d Stg.; July-Sept. 22y 4 d Stg ; , 23%d Stg.
Cchange Rates
trough BANK OF NSW, ANZ 1 BANK OF NZ. Australia on £lOO Fiji: Buying, £ All 1/2/6; AH3. Fiji-London, basis £lOO . £llO/15/-; S. £ll2. NZ-Fiji, NZ; B. £lll/11/9; S. £llO/4/3. -Through BANK OF NZ. Aus- Samoa, basis £lOO Samoa:
B. £ A123/12/6; S. £124/10/9. Samoa- London, basis £lOO London; B. £99/7/6; S. £lOl/10/-. Samoa-NZ, basis £lOO NZ: B. £100; S. £lOO/10/-. Samoa-Fiji, basis £lOO Samoa; B. £111; S. £llO.
Papua - Ng.— Commonwealth Bank
(Pt. Moresby, Lae, Rabaul, Goroka, Bulolo, Kavieng, Madang, Wewak), BANK OF NSW (branches: Port Moresby, Lae, Bulolo, Rabaul, Madang, Samarai, Goroka; agencies: Wau, Boroko, Kokopo), ANZ BANK (Port Moresby) and NATIONAL BANK OF A/ASIA. (Port Moresby) quote exchange rate Australia-Papua-NG: 10/per £ AlOO.
NORFOLK IS.—Commonwealth Bank quotes exchange rate Australia - Norfolk Island; 5/- per £AIOO.
FR. PACIFIC COLONIES.—Pacific francs, most valuable of the three franc groups in French Union, are used in New Cale donia, New Hebrides, and Fr. Polynesia.
FRENCH BANK (Comptoir National D’Escompte de Paris) in Sydney quotes: Selling Noumea; 168 Pac. fr. to £ Aust., Papeete; 166.56 Pac. fr.; Noumea-Papeete; S. 208 Pac. fr. to £Stg. Noumea-Papeete: B. 75.82 Pac. fr. to US $.