Islands Produce

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

Samoa; 18/- Fiji; 20/- Tonga, Solomons & WPHC 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 and 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, with premiums for hot-air dried.

"Tentative” Price For New Guinea In November. 1958, P-NG Copra Board announced new "Tentative Prices”, for copra delivered main ports: Hot-Air Dried. £AS3 per ton; FMS, £AS2 per ton; Smoke-Dried £ASI/7/6. These prices Will apply to whole period, from January 1, 1958, and thereafter. The necessary back payments will be made in December, 1958.

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.

On November 3, prices were, HAD,

£ F66/12/6; Fmi, £F6S/5/-; Fm2,

£ P63/17/6.

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 £Stg.3 per ton for hot air dried. Prices as from July 18, 1958—Hot-air dried: £ Stg.sl/7/-; sun dried No. 1: £Stg.4B/17/-; No. 2: £ Stg.4s/7/-.

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:—AII production marketed through official Copra Board, at prices based on Philippines market. Price de clared November: Ist grade, £5B: 2nd grade, £AS6; 3rd grade. £AS2 per ton. f.0.b., BSIP ports.

GILBERT AND ELLlCE:—Production marketed In Europe through official Copra Board, at prices based on Philippines rates, less "stabilisation fund” charges etc. ’

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:—On November 4 price was 9,400 Pac. francs (£ASS) per ton, delivered Vila/Santo. (On October 6 price had risen to 98,000 Metrop. francs per metric ton, c.i.f. Marseilles).

COOK ISLANDS:—LocaI price is based on £NZSO per ton, f.0.b.. Rarotonga.

With premium of 50/- (NZ) for top grade kiln dried. Shipping, handling, shrinkage and storage charges reduce the outer Islands price to about £NZ3O per ton. basic rate. (Negotiations for price second half of 1958 continuing—but expected to be higher).

Other Produce

COCOA:—lslands prices are based on the rate for Ghana cocoa which, on Nov. 6, was £ Stg.3ll/5/- per ton. c.i.f., London.

A large W. African crop is expected this season.

W. SAMOA: —Price quoted November 6, £ 5285, f.0.b.. Apia.

P.-N.G.: Nov. 6: £A3SO-£A36O per ton ex-wharf, Sydney. Market quiet.

COFFEE; —P.-N.G.: Nov. 6: 4/- to 4/4 per lb c.i.f. Sydney, was generally quoted.

Supplies continue plentiful.

Last quotes for Kenya Arabica were in early Nov. when they were, A grade, f.a.q., £Stg.392; B grade, f.a.q., £Stg,39o; C grade, f.a.q., £ Stg.3Bs; all per ton and c.i.f. Aust. ports. The market has been erratic in anticipation of new crop. When this is available next month, European prices are expected to firm.

PEANUTS:—P.-N.G.: Nov. 3: Kernels 1/8 to 1/9 into store; Virgina bunch, in shell, large, well-cleaned up to 1/1 del. Sydney.

Large crops still coming from Queensland and Northern NSW. NG, in types other than Virginia bunch, hard to sell.

RUBBER:—P.-N.G. price is based on Singapore rate, which on Nov. 5, was: No. 1 RSS. spot, 91*4 Straits cents (31.68 d Aust. approx.) per lb.

VANILLA BEANS: Victor Karp. Tulk & Co., Sydney, reported on Nov. 6: New crop, c.i.f., Sydney, Tahiti White and Yellow label, processed standard packs 72/-, Green 70/-.

RICE (Australian): —Price from May 1, 1958—P.-N.G.: Dry brown and dressed, 112 lb bags, 5 tons and over, £6l/10/per ton, f.0.w.: under 5 tons £62 per ton. Vitamised and enriched white, 112 lb bags, 5 tons and over, £6B per ton, f.0.w.; under 5 tons. £6B/10/- per ton.

Other Pac. Islands: Dry, brown, etc., £7O per ton, f.0.w., Sydney or Melbourne.

PEARL SHELL.—November quotation by independent pearlers for: Sound. £A7SO; D. £ASSO; E, £A3OO; EE, £AISO (in store Sydney). Manihiki, £ Stg.soo f.o.b. Rarotonga, nominal.

TROCHUS: —Supplies very light, and possible opening for increase. Nominal price £ A 355 ex-wharf, Sydney.

GREEN SNAlL:—Nominal price £A3SO ex-wharf, Sydney.

London and US Quotations

Copra; London, November 4, Philippines, bulk, November, c.i.f., $235 per ton, seller.

Straits/Borneo, fair mer., del. weights, c.i.f., UK/North European ports.

November delivery £Stg.Bl (nominal) per ton. New York, November 4, Philippines, $215 per ton c.i.f., US Pacific Coast ports. {£ 1 Australian is about equal to 2.25 US Dollars.) Coconut Oil; London, Nov. 4, Ceylon in bulk, UK/Nth. European port, c.i.f., £ Stg. 125 per ton. Straits/Borneo, £ Stg.l22/10/- per ton.

Rubber: London, Nov. 5, RSS No. 1, spot, 26d Stg. per lb; Jan.-Mar., 26*/ 4 d Stg. per lb; Oct,, 1959, 25 7 / 8 d Stg. per lb.