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 i Contract, which governed Copra prices in Papua and New Guinea, Fiji. Western i Samoa. Solomon Islands, and Gilbert and I 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. 1 “Tentative” Price For New Guinea ■’From Jan. 1, 1959, P-NG Copra Board announces new “Tentative Prices”, for copra delivered main ports: Hot-Air Dried, £ASS per ton; FMS. £AS4 per ton; Smoke-Dried £AS3/7/6. These prices will apply to whole period, from January 1. 1958, and thereafter. The necessary back payments will be made in December, 1958.

K 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 December 1, prices were, HAD,

£P76/2/6; Fmi, £F74/15/-; Fm2,

£P73/7/6. ■ 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 “rough official Copra Board, at prices based on Philippines market. Price de clared December: Ist grade, £A6B; 2nd grade, £A66; 3rd grade, £A62 per ton, f o b., BSIP ports. t GILBERT AND ELLlCE:—Production marketed in Europe through official Copra Board, at prices based on Philippines etc 05 ' f ess "stabilisation fund” charges, 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. p NEW HEBRIDES:—On November 28 Price was 10,300 Pac. francs (£A6O/4/8) Per ton, delivered Vila/Santo. (On November 28, price was 102,000 Metrop. wanes per metric ton, c.i.f. Marseilles).

COOK ISLANDS:—LocaI price is based « £ NZ SO per ton, f.0.b.. Rarotonga, wth premium of 50/- (NZ) for top grade »un dried. Shipping, handling, shrinkage »na storage charges reduce the outer islands price to about £NZ3O per ton, oasic rate. (Negotiations for price second nail of 1958 continuing—but expected to De higher).

Other Produce

COCOA:—lslands prices are based on the rate for Ghana cocoa which, on Dec. 5, was £Stg.3l2/10/- per ton, c.i.f., London.

A large W. African crop is expected this season.

W. SAMOA:—Price quoted December 1, £S3IS, f.0.b., Apia.

P.-N.G.; December 5: £A36O, ex-wharf, Sydney, market rising.

Coffee:—P.-N.G.: Dec. 5, 3/9 To 4/5

per lb c.i.f. Sydney, was generally quoted.

Supplies continue plentiful.

Last quotes for Kenya Arabica were in late November when they were, A grade, f.a.q., £ 5tg.475; B grade, f.a.q., £Stg,4lo; C grade, f.a.q., £ 5tg.375; undergradings as low as £ Stg.32o ;■ all per ton, and c.i.f.

Australian ports.

PEANUTS:—P.-N.G,: Dec. 5: Kernels 1/8 to 1/9 into store; Virgina bunch, in shell, 1/1 nominal; hard to move. 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 Dec. 4, was: No. 1 RSS, spot, 82.125 Straits cents (28.51 d Aust. approx.) per lb.

VANILLA BEANS: Victor Karp, Tulk & Co., Sydney, reported on Dec. 5: 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, £A225; EE, £AISO (in store Sydney). Manihiki, £ Stg.soo f.o.b. Rarotonga, nominal.

TROCHUS:—Supplies now plentiful but no demand: nominal £A325, ex-wharf, Sydney.

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

London and US Quotations

Copra; London December 4, Philippines in bulk $265 c.i.f. per ton, nominal.

Straits/Borneo. FMS, del. weights, c.i.f., UK/North European ports, £ Stg.93 (nominal). New York; Dec. 4, Philippines $247.5, per ton c.i.f., US Pacific Coast ports. (£1 Australian is about equal to 2.25 US Dollars.) Coconut Oil: London, Dec. 4, Ceylon in bulk, UK/North European ports. £ Stg.l3s/10/- per ton c.i.f. Straits/Borneo, £ Stg.l3s per ton.

Rubber; London, Dec. 4, RSS No. 1, spot, 23ysd Stg. per lb; Jan.-Mar., 24%d Stg. per lb; Oct. 1959, 24d Stg. per lb.