Produce Prices

(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, £59/-/- per ton; FMS, £57/10/- per ton; Smoke-Dried, £56/10/- per ton.

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

July 22 prices were: HAD £FS2/12/6,

Fm £Fso/2/6.

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. Local price re cently was £56/12/6 Samoan, first grade.

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 rate. Output goes to Unilever, UK; to Australian crushers: and the balance on to the open market. Local price in July was: Ist grade, £52/-/-; 2nd grade, £5O/10/-: 3rd grade, £4B/-/- 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 Government subsidy to producers is: £7/15/5 per ton for Ist grade, and £3/14/7 for 2nd grade.

NEW HEBRIDES:—On July 19. the copra price was approximately £4O/-/- (8,000 Pac. francs) per ton delivered Vila/Santo. French price then was 890 francs per metric ton, c.i.f., Marseilles.

COOK IS.; Copra goes to Abels, Ltd., of Auckland, who operate the only NZ copra crushing mill. Price paid is average London price for previous three months, less handling charges. Price for third quarter, July-Sept., 1963, is £NZS6/15/11 Ist grade, £NZSS/10/11 standard grade— both f.0.b., Rarotonga.

Other Produce

COCOA; —Islands prices are usually based on the rates for Ghana cocoa which on July 19 was £ Stg.l99/-/- per ton, c.i.f., Sydney.

P.-N.G.: Sydney buyers on July 19 re ported: Quote No. 1: In store, Rabaul, export quality £220 per ton, or on wharf Sydney, according to quality: £199-£220; quote No. 2; Best quality, on wharf Syd., Melb., £230-£240; in store, N.G. ports, £2lO (for UK, Continent and USA ship ments).

W. SAMOA:—Nominal prices quoted In

Sydney, July 19, were: Grade 1, £Stg.2so: grade 2, £Stg.23s, f.0.b., Apia.

COFFEE.—P.-N.G.: July 19, good quality A grade, per lb, 4/- to 4/2; B grade, 3/9 to 4/-; C grade, 2/9 to 3/4, c.i.f., Sydney.

Overseas c.i.f. coffee prices were re ported on July 19 as: Kenya AA, f.a.q., £Stg.3so, A £ 5tg.325, B £Stg3os; Uganda Robusta £ Stg.2l9.

PEANUTS. P.-N.G.: Sydney agents reported July 19:—f.0.b., Lae; Kernels— white Spanish 1/5 lb.; Virginia bunch 1/8 lb.

RUBBER.—P.-N.G. price is based on Singapore rate, which on July 19 was: No. 1, RSS, Spot, 71% Straits cents per lb (25.06 d Aust.).

VANILLA BEANS: Victor Karp Tulk & Co., Sydney, reported July 19: White and yellow label processed, standard packs, 32/-, green label 31/-, c.i.f., Sydney.

RICE (Aust.): Prices until May 1, 1964 —P.-N.G.: Dry brown and dressed, 112 lb bags, 5 tons and over, £5B/10/- per ton, f.o.w. Vitamised and enriched white, 112 lb bags, 5 tons and over, £65/-/- f.o.w. 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 July 19 by Sydney independent shell agents were: Sound £750, D £5OO, E £3OO, EE £l9O (in store Sydney). Cook Islands: Penrhyn £NZ42S (approx.), f.0.b., Raro tonga.

TROCHUS.—Sydney buyers on July 19 indicated the following quotations to Islands producers: No. I.—Papua— nominally £95 per ton, f.0.b., Papuan ports; N.G. — £9O, c.i.f., Sydney; 8.5.1. £9O, f.0.b., Honiara. No. 2.—Papua— £loo per ton; N.G., 8.5.1. £lOO per ton.

GREEN SNAIL SHELL.—Sydney buyers quoted on July 19: No. 1: £250 per ton, f.0.b.. Islands port. No. 2: £290 (best quality), on wharf, Sydney: or £295 f.0.b., Islands port.

Crocodile Skins.—On July 19

Sydney buyers quoted for 12 in. and over first grade quality as follows: P.-N.G. — 22/6 per in., f.o.b. P-NG ports, small scale (salt water); large scale (fresh water) 15/3 per in. 8.5.1. 22/6 (small scale) del. Sydney.

PAPUAN GUM: £B2/15/- f.o.b. Islan port.

BECHE-DE-MER: Chang Sing Loong C Suva, quote F 2- (4 in. to 7 in.) to F: (9 in. to 11 in.) lb for well process commercial varieties.

SHARK FINS: Suva merchants ofl F4/6 per lb for well-dried fins of co mercial quality. Sydney buyers quote ( to 8/- lb., ex-store Sydney, according quality.

London and US Quotations

Copra; LONDON, July 19, Philippines, bulk, $lBl US (equal to £Stg. 64/14, per long ton, c.i.f., UK/Nth. Europe ports. Malayan, FMS, delivered weigh c.i.f. UK/Nth. European poi £Stg.66/10/- per long ton. NEW YOR July 19, Philippines, $165 US per sh ton, c.i.f., Pacific Coast ports. CEYLC 890 Rupees per ton c.i.f.

Coconut Oil: LONDON, July 19, Ceyl 1% in bulk £ Stg.lo2/-/- per ton, c.i UK/North European ports. Straits, 3 £Stg.96/10/- c.i.f.

Rubber: LONDON, July 19, c.i.f., R No. 1 Spot, 21 7 / 8 d Stg. lb, Sept, sh ment 21 5/16d Stg. lb, June 21%d Stg. (£ 1 Australian is equal to about 2 US Dollars or lOVfe Rupees.)