Dollars For Tonga Copra

Tonga’s decision to reserve some of its copra production for sale on the dollar market appears to be paying off.

So far this year it has managed to sell 4,313 tons (to the end of July) in hard currency areas, at a figure roughly £8 a ton better than it gets from Unilever (based on the Philippines price).

And Unilever prices from Tonga lately have been £45/10 - for first grade, and £39/10/- for second.

Of the 4,000-odd tons, 1,000 tons were shipped to Vancouver, 2,813 tons went to Venezuela and 500 tons to Colombia.

Tonga expects it can earmark, and sell, the whole 1958 pro duction of Tongatabu—lo,ooo tons —at hard currency rates.

There are no plans yet for 1959.