Islands Produce

(Unless otherwise stated, quotations are in Australian currency. Aust. £ equals approximately 16/- Stg., NZ, or W lB- Fiji; 20/- Tonga, Solomons & WPHC areas; 196 Pac. Frs.; SUS 2 25.)

Copra

The British Ministry of Pood 9-yeara 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 (a) Unilever (30,000 tons under contract covering 1961), (b) Aus tralia (30,000 tons for local consumption), (c) crushing-mill in Rabaul (40,000 tons), and (d) Japan (300 tons per month or more if available). Prices generally ar ranged in accordance with ruling rate In Philippines market, with premiums for hot-air dried.

From January 1, 1961, P-NG Copra Board’s Tentative Purchase Prices, for copra delivered main ports: Hot-Air Dried £AS4/10/- per ton; FMS, £AS3 per ton; Smoke-Dried, £AS2 per ton.

FIJI:—No Government control—producers sell where they wish. Bulk of copra goes to crushing-mills in Suva. On Mar. 6 prices were: HAD £PS3, FM £5O/10/-.

WESTERN SAMOA:—Official Copra Board takes all production, sells same and makes payments to producers. In 1961, 3,500-4,000 tons will go to Abels Ltd., NZ crushers, and about 6,000 tons to Unilever, UK, out of an estimated 15,000 tons pro duction, under this year’s contracts.

Prices last year were; Hot-Air Dried, £867/13/8 per ton, Sun-Dried No. 1, £ 565/3/8, Sun-Dried No. 2. £S6I/13/8.

The 1961 prices have not been made public yet.

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.

SOLOMON IS.:—All production marketed through official BSI Copra Board, at prices based on Philippines rates. Of the Protectorate’s 1961 output (about 20,000 tons). 14,000 tons will go to Unilever, UK; 4.000 tons to Australian crushers; and the balance sold on the open market.

Local price (which is partly financed from reserves) for March; 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.

E. SAMOA:—Producers receive 7 cents lb ($U5156.8 or £A7O/4/6 approx, per long ton). Periodic bonus, if average proceeds exceed Govt, buvlng price and expenses.

NEW HEBRIDES: —On Feb. 20 rate recovered slightly to £A4O (8,000 Pac. frs.) per ton delivered Vila/Santo.

French price on Feb 20 was 89 heavy francs per metric ton, c.i.f., Marseilles.

COOK IS.:—Subject to the copra contract provisions between Cook Is. shippers and Abels, Ltd., of Auckland, who operate the only NZ copra crushing mill, the price paid is average London price for previous three months, less handling charges. Price fixed for first quarter of 1961: £NZS6/0/2 Ist grade,

£NZS4/15/2 standard grade—both f.0.b., Rarotonga.

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 Mar. 9 had slumped to £ Stg. 155 per ton c.i.f., Sydney.

W. SAMOA: —Nominal price quoted in Sydney on Mar. 9: £SIBS, f.0.b., Apia, grade 1; £SI7S, grade 2.

P.-N.G.: Mar. 9—Quote No. 1: £lBO (top grade). Quote No. 2. £l9O (medium quality).

COFFEE.—P.N.G.: Mar. 9, good quality A grade, per lb, 4/1; B grade, 4/-; C grade, 4/- c.i.f., Sydney.

Overseas coffee prices were reported on Mar. 10 as: Tanganyika A £ Stg . 340 per ton, B £Stg.32s, Undergradings £Stg.26s; Kenya A £Stg.4oo, B £Stg.36s Undergradings £Stg.3lo; Uganda Robusta Stg.l4s.

PEANUTS: P.-N.G.: Mar. 9, Kernels.

White Spanish 1/7 lb del. buyer’s store; Red Spanish, 1/4; Virginia Bunch, 1/9.

In Shell, 1/- lb.

RUBBER:—P.-N.G. price is based on Singapore rate, which on Mar. 8 was: No. 1 RSS, Spot, 84% Straits cents per lb (29.55 d Aust.).

VANILLA BEANS: Victor Karp. Tulk &• Co., Sydney, reported Mar. 9: White and yellow label, processed, standard packs 50/9; green label, 48/9, c.i.f., Sydney.

RICE (Aust.): Prices as 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.—Quotations for Aus tralian M.O.P. Shell on Mar. 9 by Sydney Independent shell agents were- Sound £ A 825, D £ASSO. E £A3OO, EE £AI9O (in store Sydney). Cook Islands: Penrhyn £NZSOO (approx.), f.0.b., Raro tonga.

TROCHUS: Quote No. I.—Papua-N.G. £l6O per ton, c.i.f., Sydney; 8.5.1. £l6O per ton, c.i.f., Sydney. Quote No 2 Papua-NG, 8.5.1.—£150 per ton.

GREEN SNAIL SHELL.—StiII in short supply—£46o-£470 per ton.

CROCODILE SKINS: 12 in. and over, small-scale, first quality; P.-N.G.—l2/per in.; 8.5.1.—15/- per in.

PAPUAN GUM: £95 per ton delivered buyer’s store, Sydney.

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

SHARK FINS: Suva merchants offer P3/per lb for well-dried fins of commercial quality.

London and US Quotations

Copra: LONDON, Mar. 9, Philippines, in bulk, $l6B US per long ton, c.i.f., UK/ Nth. European ports. Malayan, FMS, delivered weights, c.i.f. UK/Nth. European ports. £Stg.63/15/- per long ton. NEW YORK: Mar. 9, Philippines $157.50 US per short ton, c.i.f. Pacific Coast ports.

CEYLON; 920 Rupees per ton, c.i.f. (£1 Australian is equal to about 2.25 US Dollars: £1 Aust. equals approx. 10% Rupees).

Coconut Oil: LONDON, Mar. 9, Ceylon, 1%, in bulk, £Stg.loo per ton, c.i.f., UK/ North European ports. Straits, 3%. £Stg.92 c.if.

Rubber: LONDON, Mar. 9, c.i.f., RSS No. 1, Spot, 25%d Stg. per lb.; RSS July/Sept. 25V2d Stg. lb.; Mar. shipment 25V8d Stg. lb.