Islands Prodice
pp. 166-167 · Read in the full issue
(Unless otherwise stated, quotations are In Australian currency Aust. £ equals t approximately !«/- Slg.. NZ. or W. .
Samoa; 18/- Fiji; 20/- Tonga. Solomons & WPHC areas: l«H Pac. Frs.; SUS 2.20-2.30.)
Copra
The British Ministry of Pood 9-yearsJe Contract, which governed Copra prices a in Papua and New Guinea, Fiji, Westerner Samoa. Solomon Islands, and Gilbert and!
Ellice Colony tand to some extent, idi Tonga and Cook Islands i expired on Den cember 31 1957, since when each Terrl+ tory has made its own arrangements font collection and marketing of copra PAPUA-NEW GUINEA—AII production is delivered to Copra Marketing Board!., controlled by six members, including three? planters’ representatives: and the Board directs distribution and sales, and makes* payments to the producers. Production goes mainly to (at Unilever .'under con tract covering 1959). (b) Australia (for' local consumption* and (Cl crushmg-mlll In Rabaul. Prices generally arranged in accordance with ruling rate in Philippines market, with premiums for hot-air dried!!
From April 1, 1959 P-NG Coprlfi Board announced “Tentative Prices”, for' copra delivered main ports; Hot-Air Dried|,l £ A 55 per ton: FMS. £AS4 per ton;:i Smoke-Dried £AS3/7/6 FIJI:—No Government control—producers*'
11 where they wish. Bulk of copra goes i crushing-mill in Suva, whose price i wharf, Suva, is announced each week. a June 1, prices were HAD £FB3/15/-
Yti. £Fb2/7/6; Fm2, £Fbi/2/6.
WESTERN SAMOA:—Official Copra )ard receives all production, and sells me and makes payments to producers, irge proportion goes to Unilever, at lillpplnes FM grade rates, plus pre lums up to £ Stg 3 per ton for hot r dried. Prices announced in March, 59. to operate till further notice: Hot r dried. £867/13/8 per ton; sun-dried >. 1. £865/3/8; sun-dried, No. 2.
S6l/13/8.
TONGA: —Sales are under Government ntrol. Part of production goes to Europe ider arrangement with Unilever con ailed by Philippines prices, and part to open market.
SOLOMONS:—AII production marketed rough official Copra Board, at prices sed on Philippines market. Price de ired early June: Ist grade, £A80; 2nd ade, £A7B; 3rd grade, £A6B per ton, .b., BSIP ports.
GILBERT AND ELLlCE;—Production irketed in Europe through official Copra iard, at prices based on Philippines tes, less “stabilisation fund” charges, ). SAMOA:—Producers receive 4 cents lb.
J 589.6 or £A4O approx per long ton), ■iodic bonus, if average proceeds exceed vt. buying price and expenses.
JEW HEBRIDES:—On June 2. local Ping price was £63/15/- per ton, de sred Vila/Santo. On same date, price s 123,000 Metrop. francs per metric ton, f. Marseilles.
JOOK IS./NIUE/TOKELAU: Price fixed first half of 1959, by Abels, Ltd., of :kland, who mill it, was announced in iruary as follows: Standard Grade: 1Z66/15/6 plus £1 for bags. plus /5/- premium, totalling £NZ69/0/6. st Grade: £NZ66/15/6 plus £1 for s, plus £l/5/- premium, plus £l/5/cial premium for hot air dried, total £ NZ7O/5/6. f.0.b., Rarotonga.
Other Produce
OCOA: —lslands prices are based on the e for Ghana cocoa which, on June 8, ! £ Stg.2Bs per ton, c.i.f . Sydney T. SAMOA:—Nominal price quoted in ney June 8: £S2BS, f.0.b., Apia. -N.G.: June 8, £A335 ex-wharf, ney.
OFFEE:—P.-N G.; June 8, 4/5 per lb, ’., Sydney, for good quality A grade, arly June (with no change expected be ; new crop in early July) price quoted Kenya, c.i.f. Sydney, was- A grade. tg.510 per ton; B grade, £Stg.4Bo; C 3e. none available. Undergradings: tg.255-285. Tanganyika: A grade, tg.400 per ton, c.i.f. Sydney. Uganda usta, c.i.f. Sydney, £Stg.2s9-275 per EANUTS:—P.-N.G.: June 8. Kernels lb ex-wharf; no sale in Sydney at lent for nuts in shell.
ÜBBER: P.-N.G price is based on fapore rate, which June 5 was No.
ISS, spot, 98 Vz Straits cents per lb. 2d Aust.).
ANILLA BEANS: Victor Karp. Tulk & Sydney, reported on June 8- New >, c.i.f., Sydney, Tahiti White and ow label, processed standard packs , Green 73/-.
ICE (Australian):—Price from May 1, —P.-N.G.: Dry brown and dressed, lb bags, 5 tons and over, £6l/10/ton, f.0.w.; under 5 tons £62 per
lh ho t X lt «; l d and enrich ed white. 112 lb bags, 5 tons and over £6B per ton 1?. W ’ „ under 5 tons £6B/10/- per ton!
Pa f’ Islands: Dry. brown, etc., £7O per ton, f.o w.. Sydney or Melbourne. , SHFLL Jun e quotations by £ A 750” d n nt pa An r i e r s were : Sound” £ A 750, D. £ A 550; E, £A225; EE, £AISO (in store Sydney). Manlhlki lagoon still Penrhyn, £Stg.4oo (nominal, i.o d.. Rarotonga.
TROCHUS:—No demand—nominal £A2BO, ex-wharf, Sydney.
GREEN SNAIL:—No movement in market—nominal quote £A32O per ton ex-wharf. H
London and US Quotations
Copra: London, June 5, Philippines In bulk, $252, c.i.f. UK/Nth. European ports.
Straits/Borneo. FMS, del. weights, c.i.f.
UK/Nth. 1 uropean ports, £Stg.93-94.
New York: June 5, Philippines $254 c.i.f.. Pacific Coast ports. (£1 Australian is equal to about 2.25 US Dollars.) Coconut Oil:—London, June 5. Ceylon in bulk. £ Stg.l43, per ton, c.i.f., UK/ North European ports. Straits/Borneo, £Stg.l43 per ton, c i.f., June/July.
Rubber: London, c.i.f., June 5, RSS No. 1. spot, 28y 4 d Stg. per lb; Oct./Dec., 28y 3 d Stg.; June, 1960, 28V 3 d Stg.