Islands Produce

(Unless otherwise stated, quotations are Australian currency. Aust. £ equals pproximately 16/- Stg., NZ, or W imoa; 18/- Fiji; 20/- Tonga, Solomons & PHC areas; 196 Pac. Frs.; 5U52.25.)

Copra

The British Ministry of Food 9-years jntract, which governed Copra prices Papua and New Guinea, Fiji, Western imoa. Solomon Islands, and Gilbert and lice Colony (and, to some extent, in mga and Cook Islands) expired on De mber 31. 1957; since when each Terri ry has made its own arrangements for Ilection and marketing of copra.

PAPUA - NEW GUINEA:—AII production delivered to Copra Marketing Board, ntrolled by six members, including three inters’ representatives; and the Board rects distribution and sales, and makes yments to the producers. Production bs mainly to (a) Unilever (30,000 tons der contract covering 1961), (b) Aus ilia (30,000 tons for local consumption), crushing-mill in Rabaul (40,000 tons), d (d) Japan (300 tons per month or ire if available). Prices generally ar iged in accordance with ruling rate in ilippines market, with premiums for t-air dried. ? rom January 1, 1961, P-NG Copra ard’s Tentative Purchase Prices, for )ra delivered main ports: Hot-Air Dried 154/10/- per ton; FMS, £AS3 per ton; oke-Dried, £AS2 per ton. ?TJl: No Government control—producers I where they wish. Bulk of copra goes crushing-mills in Suva. On July 10 ces were: HAD £F47/15/-, FM >45/5/-.

WESTERN SAMOA: —Official Copra ird takes all production, sells same and kes payments to producers. In 1961, )0-4,000 tons will go to Abels Ltd., NZ shers. and about 6,000 tons to Unilever, . out of an estimated 15,000 tons pro tion, under this year’s contracts.

ONGA:—Sales are under Government trol. Part of production goes to Europe, ler arrangement with Uniliver con ned by Philippines prices, and part to open market.

OLOMON IS.:—All production marketed sugh official ESI Copra Board, at prices ed on Philippines rates. Of the tectorate’s 1961 output (about 20,000 3). 14,000 tons will go to Unilever, ; 4,000 tons to Australian crushers; the balance sold on the open market, al price (which is partly financed from ;rves) in July: Ist grade, £A49/-/grade, £A47/10/-; 3rd grade. £A4S/-/-' ton, f.0.b., BSIP ports.

ILBERT AND ELLlCE.—Production keted in Europe through official Copra rd, at prices based on Philippines :s, less “stabilisation fund” charges.

EW HEBRIDES:—On July 1, the copra e was approx. £A34/10/- (6.900 Pac ics) per ton delivered Vila/Santo on a ak” market. French price the same was 79 heavy francs per metric c.i.f., Marseilles. -*OK IS.:—Subject to the copra ract provisions between Cook Is. pers and Abels, Ltd., of Auckland, operate the only NZ copra crushing the price paid is average London for Previous three months, less Hing charges. Price fixed for first ter of 1961 was £NZS6/0/2 Ist grade .54/15/2 standard grade—both fob itonga. )KELAUS; Price is based on the age London price for the month prior tnpment to Auckland crushers.

Other Produce

COCOA:—lslands prices are based on the rates for Ghana cocoa which on July 9 was £ Stg.l67/10/- per ton, c.i.f., Sydney W. SAMOA -Nominal price quoted in Sydney on July 10; grade 1 £S2IO (approx.), f.0.b., Apia.

P.-N.G.: July 10—Quote No. 1; £2OO (top grade), £l9O (medium), £lBO (low).

Quote No. 2. £2OO (medium quality).

COFFEE.—P.-N.G.; July 10, good quality A grade, per lb, 4/- to 4/2; B grade, 4/-; C grade, 2/6, c.i.f., Sydney.

End of season—no quotations for Tanganyika or Kenya Arabica; Nairobi market closed until end of July. Uganda Robusta £Stg.l4s (approx.).

PEANUTS: P.-N.G.: F.0.b., Lae. July 10, Kernels: White Spanish, 1/4 lb; Red Spanish, 1/2; Virginia Bunch, 1/7. In shell. 1/- lb. (del. buyer’s store, Sydney).

RUBBER:—P.-N.G. price is based on Singapore rate, which on July 7 was: No. 1 RSS, Spot. 83V2 Straits cents per lb (29.12 d Aust.).

VANILLA BEANS: Victor Karp. Tulk & Co., Sydney, reported July 9; White and yellow label processed, standard packs, 47/6; green label. 46/6, c.i.f., Sydney.

RICE (Aust.): Prices as from May, 1961—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. Vitamised and enriched white, 112 lb bags, 5 tons and over, £63 f.0.w.; under 5 tons, £63/10/-. Other Pac.

Islands: Dry, brown, etc., 5 tons and over, £64/10/-; under 5 tons, £65 per ton, f.0.w., Sydney or Melbourne.

PEARL SHELL.—Quotations for Aus tralian M.O.P. Shell on July 12 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. 1 —Papua-N.G £l4O per ton, c.i.f., Sydney; 8.5.1. £165 per ton, c.i.f., Sydney. Quote No. 2; Papua-NG, 8.5.1.—£160 per ton.

Green Snail Shell.—£47S Per Ton;

in short supply.

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 F 4- lb for well processed commercial varieties.

SHARK FINS: Suva merchants offer F3/per lb for well-dried fins of commercial quality.

London and US Quotations

Copra; LONDON, July 7, Philippines, in bulk, $169 US per long ton, ci.f., UK/ Nth. European ports. Malayan FMS delivered weiehts c.i.f. UK Nth. European ports, £Stg.6o/10/- per long ton. NEW YORK; July 7, Philippines $155 US per short ton, c.i.f. Pacific Coast ports CEYLON: 780 Rupees per ton, c.i.f. (£ 1 Australian is equal to about 2.25 US Dollars: £1 Aust. equals approx 10Vo Rupees).

Coconut Oil: LONDON, July 7, Ceylon 1%, in bulk, £Stg.9o per ton, c.i.f. UK/ North European ports. Straits ’ 3% £Stg.B6, c.i.f.

Rubber: LONDON, July 7, c.i.f., RSS No. 1, Spot, 24%d. Stg. per lb.; RSS Oct./ Dec. 24 7 / B d. Stg. lb; July shipment 24V 4 d.