Trading Notes
p. 138 · Read in the full issue
Copra Board Surplus: The Chair
man of the Papua and New Guinea Copra Marketing Board, Mr. I. McDonald, announced in July that the Board had a trading surplus of more than £690,700 for 1962. He said the surplus would be distributed to copra producers at the rate of £6/15/6 per ton of copra delivered to the Board during 1962.
Development Loan Success: Fiji’S
1963 Development Loan was fully s . u^scribed. The loan, for £l% million, closed in July. The money will help to finance this year’s capital development programme which will cost more than £3 million.
FIJI EXPORTS UP: Fiji’s exports for the first five months of 1963 were nearly 57 per cent, higher than in the first five months of 1962. They were valued at over £4,800,000, or £l% million more than in the corresponding Period last year. Imports were valued at £7,600,000 7l/2 per cent, more than in the first five months of 1962.
COCOA CO-OPS.: Vella Lavella. BSIP, cocoa farmers have decided to form two co-operative societies centred at Barakoma and Lambu Lambu to purchase and process their wet beans. It is intended that both societies will start processing the cocoa in January, 1964.
NEW COPRA PORT: Vanikoro has been declared a port of export for copra.
Producers from the outer islands will now be able to export copra direct with the prior authorisation of the BSIP Copra
Board, instead of first shipping to Komar Temporary grading facilities are beir organised, but it is hoped that an offio trained in copra grading will be posh to Vanikoro early next year. The fir direct shipment was made in July, wh( the “Samos” loaded 50 tons
Kinjibi Shows Profit: Kinji
Holdings Ltd., formerly Goroka Cofi (Holdings) Ltd., earned a net profit £3,715 for the year ended Decemb 31 compared with a loss of £11,438 1961.
Directors say in the annual repc that they are seeking substantial sourc of income outside coffee. Unless furth income sources are found no divide can be expected for five or six yea they say.
Bank’S New Branch: The Bank
Baroda Ltd., Bombay, which oper its first branch in Fiji at Suva in 19 now has opened another branch in 1 Colony. This is at Lautoka. I manager is Mr. I. M. Francis w! at the age of 34, is possibly one of 1 youngest bank managers in the Soi Pacific.
COFFEE EXPORTS: No restrict!! will be placed on the export of col from Papua and New Guinea ui September 1, the chairman of Coffee Exports Committee, Mr. W.
Conroy announced in July.