Copra: Buyer-Resistance To Rise

April was characterised by restricted copra supplies—be iuse of political trouble in Indonesia and drought in the lilippines —but continued buyer-resistance to the rise in price.

ERAGE price for the month ras £Stg69/12/6 c.i.f London, yer-resistance was more no ble at beginning and end of month—buyers holding off as as possible in the hope of a n price. Consumers at the end ipril announced that prices approaching the uneconomic threatened that unless sellers way they would discontinue ise of coconut oil in margarine, ley had done in the United s where only ground nuts, soya > and cottonseed oils are used his purpose. wever, the general oils position itself having an effect on the l market. Coconut oil was sell i good volume but there was

little business in ground nuts and palm oil reported.

The Indonesian situation re mained obscure. The end of the rebellion in Sumatra may result in higher exports of copra and oil. (The fighting has been on so insig nificant a scale that it of itself was unlikely to disrupt the industry).

Most Europeans have now been withdrawn from these plantations, and it is thought that this might affect production.

Supplies of copra from Philip pines are not likely to come freely before July because of a long dry spell.— Based on material released by the P-NG Copra Marketing Board.