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; 196 Pac. Frs.; 5U52.25.)

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 six members, including three planters’ representatives; and the Board directs distribution and sales, and makes payments to the producers. Production goes mainly to (al Unilever (under con tract covering 1960), (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 July 1. 1960, P-NG Copra Board’s Tentative Purchase Prices, for copra delivered main ports- Hot-Air Dried. £A6S per ton; FMS. £A63/10/- per ton; Smoke-Dried, £A62/10/- per ton.

PUT:—No Government control—producers sell where they wish. Bulk of copra goes to crushing-mills in Suva. On August 8 price was: HAD £FS7/7/6, FMI £FS2/2/6,

Pm2 £Fs4/17/6.

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

Large proportion goes to Unilever, at Philippines PM grade rates, plus pre miums up to £S3 per ton for hot air dried. Prices since March. 1959, have been: Hot-air dried, £867/13/8 per ton; sun-dried No. 1, £865/3/8; sun-dried No. 2, £B6l/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:—AII production marketed through official Copra Board, at prices based on Philippines market. Price de clared as from August 1: Ist grade, £A6O; 2nd grade. £ASB/10/-; 3rd grade, £AS6 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 7 cents lb. ($U5156.8 or £A7O/4/6 approx, per long ton). Periodic bonus, if average proceeds exceed Govt, buying price and expenses.

NEW HEBRIDES:—Price on August 1 was £A43/15/- (8.750 Pac. francs) per ton de livered Vila/Santo. French price on August 5 was 92,000 Metrop. francs per metric ton, c.i.f., Marseilles.

COOK IS. AND NIUE IS.: Subject to the provisions of the copra contract be tween the Cook Islands and Niue Island shippers and Abels. Ltd., of Auckland, who operate the only New Zealand copra crushing mill, the price paid is the average London price for the previous month, less handling charges. The actual price paid to producers varies widely from Island to Island, ranging from £NZ3O to £NZSO per ton.

TOKELAUS: Price is based on the average London price for the month prior to shipment to Auckland crushers.

Other Produce

COCOA;—lslands prices are based on the rate for Ghana cocoa which on August 9 was £Stg.223/15/- per ton. c.i.f., Sydney.

W. SAMOA:—Nominal price quoted in Sydney on August 11: £S2IS, f o b., Apia, grade 1; £S2IO, grade 2.

P.-N.G.: August 10.—Quote No. 1: £260- £265 (best quality). Quote No. 2: £255 (medium grade).

COFFEE;—P.-N.G.: Aug. 10, good quality A grade, per lb, 4/2 to 4/3; B grade. 4/1; C grade. 4/- c.i.f., Sydney.

In early August world coffee prices were: Tanganyika A grade, £Stg.32o; Kenya A, £Stg.39o. B, £Stg.37o; Uganda Robusta, £Stg.l32; all per ton, c.i.f., Sydney.

PEANUTS: P.-NG,, August 10, Kernels: White Spanish 1/6 lb del. buyer’s store; Red Spanish, 1/4; Virginia Bunch, 1/7V 2 .

In Shell, 1/- lb.

RUBBER: —P.-N.G price is based on Singapore rate, which on August 9 was: No. 1 RSS, spot, 104 7 / 8 Straits cents per lb (37-5/64d Aust.).

VANILLA BEANS: Victor Karp Tulk & Co., Sydney, advised August 10: White and yellow label, processed, standard packs. 46/9; green label, 45/3 c.i.f.. Sydney. This represents a sharp fall in the market.

RICE (Aust.):—New prices from May, 1960—P.-N.G.: Dry brown and dressed, 112 lb bags, 5 tons and over, £56/10/per ton, f.0.w.; under 5 tons £57 per ton. Vitamised and enriched white. 112 lb bags, 5 tons and over, £63 per ton, f.0.w.; under 5 tons, £63/10/- per ton.

Other Pac. Islands: Dry, brown, etc., £66 per ton f.0.w., Sydney or Melbourne.

PEARL SHELL. -Firm nuntations for Aus tralian White M.O.P. Shell in August by Sydney independent shell agents were: Sound' £ AB5O, D £A6OO, E £A3OO, EE £A2OO (in store Sydney). Penrhyn Island: Approx. £ NZSOO, f.0.b.. Rarotonga. Mani hiki Island: Lagoon still closed. N.G.: Last Sydney sales of Black-lip M.0.P., several months ago, were at £292 per ton.

TROCHUS: Quote No. I.—Papua-N.G. and 8.5.1. £l9O per ton, c.i.f., Sydney.

Quote No. 2: £lB5 per ton.

GREEN SNAIL SHELL.—Buyers are offering up to £475 per ton. but supplies are lagging.

CROCODILE SKINS: 12 in. and over, small-scale, first quality No. 1 quote: 12/per in. No. 2 quote: 11/6 per in.

PAPUAN GUM: £BO per ton del. buyer’s store. Sydney.

BECHE-DE-MER: Chang Sing Loong Co., Suva, quote 2/- to 4/- lb for well processed commercial varieties.

SHARK FINS: Suva merchants offer 3/per lb for well-dried fins of commercial quality.

Londor and US Quotations

Copra: London, August 8, Philippines, in bulk, $193.50 US per long ton, c.i.f., UK/ Nth. European ports. Straits/Borneo, FMS, delivered weights. c.i.f. UK/Nth. European ports, £Stg.7o/10/- per long ton. (£1 Australian is equal to about 2.25 US Dollars ) Coconut Oil: London, Aug. 8, Ceylon, 1%, in bulk, £Stg.loB per ton, c.i.f., UK/Nth.

European ports. Straits, 3%, £Stg.lo2 c.i.f.

Rubber: London, c.i.f., August 9, RSS No. 1, Spot, SOVad Stg. per lb.