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.; $U52.25.)

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, in UK, (b) Australia for local consumption, (c) crushing-mill in Rabaul, and (d) Japan (surplus as available). Prices generally tally with ruling rate in Philippines, with premiums for hot-air dried.

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

FIJI:—No Government control—pro ducers sell where they wish. Bulk of copra goes to crushing-mills in Suva.

On June 18 prices were HAD £F43/17/6,

Fm £F4I/7/6.

WESTERN SAMOA;-—Official Copra Board takes all production, sells same and makes payments to producers. It goes mainly to Abels Ltd.. NZ crushers, and to Unilever, UK.

TONGA;—Sales are under Government control. Part of production goes to Europe, under arrangement with Unilever controlled 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. Output goes to Unilever, UK; to Australian crushers; and the balance on to the open market. Local price in June was: Ist grade, £5O/-/-; 2nd grade, £4B/10/-; 3rd grade, £46/-/- per ton, f.0.b., BSIP ports (Honiara, Yandina and Gizo) GILBERT AND ELLlCE:—Production marketed in Europe through official Copra Board, at prices based on Philippines rates less freight, etc. The Govt, pays a £5lO/- per ton subsidy.

NEW HEBRIDES;—On June 14, the copra price was approximately £A3S/-/- (7 000 Pac. francs) per ton delivered Vila/Santo. French price then was 77 heavy francs per metric ton ci f Marseilles.

COOK IS.: Copra goes to Abels, Ltd., oi Auckland, who operate the only NZ copra crushing mill. Price paid is average London price for previous three months less handling charges. Price for second quarter of 1962 was £NZ49/17/7 Ist f ra u 6 ’ £NZ4B /1 2 /"7 standard grade—both i.0.b., Rarotonga.

Other Produce

COCOA:—lslands prices are usually based on the rates for Ghana cocoa which 22 . bad dropped to £Stg.l6B/8/per ton, c.i.f., Sydney. Overseas reports ™J?*, na ’ S , c J urrent main crop has been completely sold out, but Nigeria still has a tew thousand tons remaining unsold an £. o g f rian cocoa sells around £ D tg ; T 2^ lo/ " per ton below Ghana’s.

Sydney buyers on June 22 re pxnnrt Qnote No. 1: In store Rabaul, nn*ml QUahty ’ £212 : quote No. 2: best qual] ‘ ty ’ on „ wharf Syd./Melb. £200; in store N.G. Ports, £2lO.

Svri^f AM ° A: — Nominal Prices quoted in If IstgJ?"/.??. Apia. f S,g 285: grad<> COFFEE,— P.N.G.: June 22, good quality A grade, per lb, 4/- to 4/2; B grade 47-c grade, 2/6 to 3/-, c.i.f., Sydney ’

Overseas c.i.f. coffee prices were re ported June 22 as: Kenya A, f.a.q. £ 5tg.465, B £ Stg.3Bo, C £Stg.34o: Tanganyika AA £Stg.37s, A £Stg.36o, B £ Stg.33o; Buguishu AA £ Stg.33o; Uganda Robusta £ Stg.l66.

PEANUTS: P.N.G.: Sydney agents quoted June 22:—F.0.b., Lae: Kernels— White Spanish, 1/4 lb; Red Spanish, 1/2; Virginia Bunch, 1/7, in shell 1/1.

RUBBER: —P.-N.G. price is based on Singapore rate, which on June 21 was; No. 1 RSS, Spot, 73% Straits cents per lb (25.59 d Aust.).

VANILLA BEANS: Victor Karp Tulk & Co.. Sydney, reported June 22; White and yellow label processed, standard packs, 43/6, green label 42/-, c.i.f., Sydney.

RICE (Aust.): Prices as from May 1, 1962 —P.-N.G.: Dry brown and dressed, 112 lb bags, 5 tons and over, £59/-/- per ton, f.0.w.; under 5 tons £59/10/-. Vitamised and enriched white, 112 lb bags, 5 tons and over, £65/15/f.0.w., under 5 tons, £66/5/-. Other Pac. Islands: Dry, white or brown, etc., £67/10/- (any quantity), f.0.w., Sydney or Melbourne.

PEARL SHELL.—Quotations for Aus tralian M.O.P. Shell on June 22 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. Sydney buyers quota tions to Islands producers: No.

I.—Papua— £ l2s per ton, on wharf Sydney: N.G.—£l2s per ton, c.i.f..

Sydney; 8.5.1.—£125 per ton, on wharf, Sydney. No. 2; Papua—£l2o per ton; N.G., 8.5.1. £125 per ton.

GREEN SNAIL SHELL.—Sydney buyers quoted on June 22: No. 1: £325 per ton in store Rabaul; No. 2: £2BO (best quality), on wharf, Sydney.

Crocodile Skins—On June 22

Sydney buyers quote for 12. in. and over first grade quality was: P.-N.G.—l6/- per in., f.o.b. P-NG port, small scale (salt water); buying suspended for present for large scale (fresh water) skins. 16/- per in. (small scale) del. Sydney PAPUAN GUM: £95 per ton delivered buyer’s store, Sydney.

London and US Quotations

Copra: LONDON, June 22, Philippines in bulk, $159 US per long ton, c.i.f., UK/ Nth. European ports. Malayan, PMS delivered weights, c.i.f. UK/Nth. European ports—£Stg.sB/-/- per long ton. NEW YORK: June 22, Philippines $159 US per short ton, c.i.f., Pacific Coast ports.

CEYLON: 805 Rupees per ton, c.i.f.

Coconut Oil: LONDON, June 22, Ceylon 1% in bulk, £Stg.Bs/10/- per ton, c.i.f,’

UK/North European ports. Straits, 3%’ £Stg.B4/-/-, c.i.f.

Rubber: LONDON, June 22, c.i.f., RSS No. 1, Spot, 21 %d Stg. lb (nominal); Sept, shipment 22-l/16d Stg. lb, July shipment 21%d Stg. lb. (£1 Australian is equal to about 2.25 US Dollars or 10V 2 Rupees).