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; —All- 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.

Sept. 23 prices were: HAD £FSS/-/-,

Fm £Fs2/10/-.

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 September was: Ist grade, £55/-/-; 2nd grade, £53/10/-: 3rd grade, £5l/-/- 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 Sept. 24, the copra price was approximately £44/-/- (8,800 Pac. francs) per ton delivered Vila/Santo. French price then was 940 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, Oct.-Dec., 1963, is £NZS7/13/6 Ist grade, £NZS6/8/6 standard grade— both f.0.b., Rarotonga.

Other Produce

COCOA; —Islands prices are usually based on the rates for Ghana cocoa which on Sept. 24 was £ Stg.2oB/15/- per ton, c.i.f., Sydney.

P.-N.G.: Sydney buyers on Sept. 24 re ported: Quote No. 1; In store, Rabaul, export quality £2OO per ton, or on wharf Sydney, according to quality; £2OO-£225; quote No. 2; Best quality, on wharf Syd., Melb., £230, in store, N.G. ports, £2lO (for UK, Continent and USA ship ments).

W. SAMOA:—Nominal prices quoted in Sydney, Sept. 24, were: Grade 1, £ Stg.2lo; grade 2, £Stg.2oo, f.0.b., Apia.

COFFEE.—P.-N.G.; September 20, 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 Sept. 20 as: Kenya AA, £ Stg.3so, A £ 5tg.335, B £Stg.33o; Tanganyika AA £Stg.3so; Uganda Robusta (standard) £Stg.2ls.

PEANUTS. P.-N.G.: Sydney agents reported Sept. 24—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 Sept. 20 was: No. 1, RSS, Spot, 66 Vs Straits cents per lb (23.19 d Aust.).

VANILLA BEANS: Victor Karp Tulk & Co., Sydney, reported Sept. 24: White and yellow label processed, standard packs, 30/-, green label 29/-, 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. Vitamlsed 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 Sept. 24 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 Sept. 24 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 Sept. 24: No. 1: £250 per ton, f.0.b., Islands port. No, 2: £3OO (best quality), on wharf, Sydney; or £305 f.0.b., Islands port.

Crocodile Skins.—On Sept. 24

Sydney buyers quoted for 12 in. and over, first grade quality as follows; P.-N.G. — 24/6 per in., f.o.b. P-NG ports, small scale (salt water); large scale (fresh water) 16/- per in. 8.5.1. 24/6 (small scale) del. Sydney.

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

BECHE-DE-MER: Chang Sing Loong Co., Suva, quote F 2- (4 in. to 7 in.) to P3/- (9 in. to 11 in.) lb for well processed commercial varieties.

SHARK FINS: Suva merchants offer P4/6 per lb for well-dried fins of com mercial quality. Sydney buyers quote 6/to 8/- lb., ex-store Sydney, according to quality.

London and US Quotations

Copra: LONDON, Sept. 20, Philippines, in bulk, $l9O US (equal to £Stg.67/18/-) per long ton, c.1.f., UK/Nth. European ports. Malayan, FMS, delivered weights, c.i.f. UK/Nth. European ports, N.Q. NEW YORK: Sept. 20, Philippines, $167.50 US per short ton, c.i.f., Pacific Coast ports. CEYLON: 905 Rupees per ton c.i.f.

Coconut Oil: LONDON, Sept. 20, Ceylon, 1% in bulk £Stg.lo7/-/- per ton, c.i.f., UK/North European ports. Straits, 3Vs> %, £Stg.99/10/- c.i.f.

Rubber: LONDON, Sept. 20, c.i.f., RSS No. 1 Spot, 19 7 / 8 d Stg. lb, Nov. Ship ment 20%d Stg. lb, Oct. 19-11/16d Stg. lb. (£1 Australian is equal to about 2.2 US Dollars or 10 Vz Rupees.)