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 Territory has made its own arrangements for collection and marketing of copra.

PAPUA-NEW GUINEA:—All 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 (a) Unilever (under con tract covering 1959), (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 From April 1, 1959, P-NG Copra Board announced “Tentative Prices”, for copra delivered main ports: Hot-Air Dried £A55 per ton; FMS, £A54 per ton: Smoke-Dried £A53/7/6 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 July 6, prices were HAD. £F73/17 6

Fmi. £ F72/10/-; Fm2. £F7I/2/6.

WESTERN SAMOA:—Official Copra Board receives all production, and sells same and makes payments to producers.

Large proportion goes to Unilever, at Philippines PM grade rates, plus pre miums up to £Stg.3 per ton for hot air dried. Prices announced in March, 1959, to operate till further notice; Hot air dried, £867/13/8 per ton; sun-dried No. 1, £ 565/3/8; sun-dried. No. 2. £S6l/13/8.

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:—All production marketed through official Copra Board, at prices based on Philippines market. Price de clared in June: Ist grade, £A80; 2nd grade, £A7B; 3rd grade, £A6B per ton. f.0.b., BSIP ports. July price unavailable but most certainly has fallen from June.

GILBERT AND ELLICE:— 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 July 2. local buying price was £A4S per ton, de livered Vila/Santo. On same date, price was 106,000 Metrop. francs per metric ton, c.i.f. Marseilles.

COOK IS./NIUE/TOKELAU: Price fixed for first half of 1959. by Abels. Ltd . of Auckland, who mill it, was announced in February as follows: Standard Grade: £ NZ66/15/6 plus £1 for bags, plus £1/5/- premium. totalling £NZ69/0/6.

First Grade: £NZ66/15/6 plus £1 for bags, plus £1/5/- premium, plus £1/5/special premium for hot air dried, total ling £ NZ7O/5/6, f.0.b., Rarotonga.

Other Produce

COCOA: —Islands prices are based on the rate for Ghana cocoa which, on July 9. was £Stg.276/5/- per ton. c.i.f., Sydney.

W. SAMOA: —Nominal price quoted in Sydney on July 9: £S2BS, f.0.b.. Apia.

P.-N.G.; July 8, £A335 ex-wharf.

Sydney.

COFFEE:— P.-N.G : July 9. 4 5 per lb, c.i.f., Sydney, for good quality A grade.

Early July, price quoted for Kenya, c.i.f. Sydney, was: A grade. £Stg.slo per ton; B grade. £StgABO; C none available. Undergradings: £Stg.22s-285.

New crop prices expected late July. Tan ganyika: A grade. £Stg4oo per ton ci f Sydney. Uganda Robusta, c.i.f.

Sydney, £Stg.215-230 per ton.

Peanuts:— P.-N.G.: July 9. No. 1

quote, Kernels. White Spanish 1/9 lb. ex wharf; Virginia Bunch. 1/10 lb No. 2 quote; Hybrid. 1/6 lb. No sale in Sydney at present for nuts in shell. bi rrfk- p-N G price is based on Singapore «fe. which July 8 was: No. f IST spo t 97'/. Straits cents per lb.

(33.76 d Aust.).

BEANS: Victor Karp. Tulk & Co., Sydney, reported on July 9: No Tahiti

beans available at present; new crop prices expected August.

RICE (Australian):— Price from May 1, 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.

Fiji.— Locally-grown rice has been retail ing in Suva at lid Fijian per lb, with Saigon imported rice at lOd Fijian per lb. Suva people regard the imported rice as inferior to the Fiji product.

PEARL SHELL.—Quotations in July by independent M O.P. shell agents were- Sound £ A 750, D £ASSO, E £A225, EE £AISO (in store Sydney). Penrhyn £ Stg.4oo (nominal i. f.0.b., Rarotonga.

Manihiki lagoon will remain closed this year. Unless the reported plan to trans fer Manihiki divers to Suwarrow atoll to dive for black-lip M.O.P. eventuates, only limited quantities of pearl shell will be on offer from the Cook Is. this year.

TROCHUS.—Revival of interest in Sydney during the month pushed the spot price up, one P.-N.G. parcel selling for as high as £300; but Sydney agents in dicated that, during August, it might drop back to below the May-June rate of £2BO. In Fiji recently, trochus was being bought at from 1/6 to 2/6 Fijian per lb. depending on quality (equal to £FI6B to £F2BO per ton, in store, Suva).

GREEN SNAIL SHELL.—Because of a demand from Japan, price has risen to £365 per ton. P.-N.G. and 8.5.1. shell is in short supply—Sydney agents say they can now place any stocks coming for ward.

London and US Quotations

Copra: London, July 8, Philippines in bulk, $245, July/Aug.. c.i.f. UK/Nth.

European ports, Straits/Borneo, FMS del. weights, c.i.f. UK/Nth. European ports. • £Stg.B3 July/Aug. New York: July 8, Philippines $230 c.i.f.. Pacific Coast ports. (£1 Australian is equal to about 2 25 US Dollars.) Coconut Oil:—London, July 8, Ceylon in bulk, £Stg.l3l, per ton, c.i.f., UK North European ports. Straits, crude c.i.f., in bulk, £Stg.l26 per ton.

Rubber; London, c.i.f., July 8. RSS No. 1, spot. 28 Vzd Stg. per lb; Oct. Dec. 28> 2 d Stg.; July, 1960, 28%d Stg.