Copra - Lowest

Since 1948

At the beginning of January the c.i.f. price of copra, UK/ European ports was, at £Stg.s9/10/-, the lowest since 1948 but from that point the price rose steadily and finished the month at £Stg.63/3/2.

This gave an average for the month of £Stg.6l/5/- and in terms of the Papua-New Guinea Marketing Board’s contract with Unilever (Raw Materials) Ltd. this price will be applied to February shipments..

The tentative main ports pur chase price will remain un changed at £AS4/10/- for Hot Air grade, £AS3 for FMS and £AS2 for smoke.

P-NG produced 105,152 tons of copra in 1960 —46,651 tons of Hot Air grade; 39,038 tons of FMS and 19,463 of smoke grade. The low percentage of smoke grade is considered very satisfactory, —From the Monthly Report of the Chairman of PNGCMB.