Nh Copra Price Slumps
p. 173 · Read in the full issue
T>HICE in store for New Hebrides copra -I reacted sharply to the European mar ket trend during June by two falls total ling £ 18/15/- Aust. per ton—from £63/15/- Aust. in early June to £45 Aust. in July.
The Marseilles c.i.f. price dropped from 123.000 Metrop. francs per metric ton to 106.000 Metrop. francs.
Merchants regard the steep drop as "a return to sane levels” after the highly inflated rates prevailing in recent months when copra was in short supply. Indo nesian and Philippines copra now is coming forward, they say, to fill the de mand, and the threat by the US Govern ment to release some of its stock-piled coconut oil, if high prices continued, had an immediate reaction.