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, £7l/10/- per ton; FMS. £7O/-/- per ton; Smoke-Dried, £69/9/9 per ton. pul:—No Government control —producers sell where they wish. Bulk of copra goes to crushing-mills in Suva.

May 24 prices were; HAD £F7B/10/-, M £F76/-/-.

WESTERN SAMOA: Official Copra Board takes all production, sells same and makes payments to producers. It goes mainly to Abels Ltd., NZ crushers, and the open market. 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. These prices, fixed in March, will remain stable for six months from that date. Ist grade, £64/-/-; 2nd grade, £62/-/-: 3rd grade, £57/-/- per ton, f.0.b., BSIP ports (Honiara, Yandina and Gizo). , , GILBERT AND ELLICE; —Production marketed in Europe through official Copra Board, at prices based on Philippines rates less freight, etc. The Copra Board subsidises the price at: First Grade £6/4/2 per ton, Second Grade £2/2/1 per ton.

NEW HEBRIDES: —Price on Apr. 13 was approximately £ASO/-/- (10,000 Pac. francs), and has remained fairly constant since then. French price on May 21 was 1,200 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. Prices for second quarter, April-June, 1965, are £NZ6B/4/3 Ist grade, £NZ66/19/3 standard grade— both f.0.b., Rarotonga.

Other Produce

COCOA: —Islands prices are usually based on the rates for Ghana cocoa.

May-June shipment is £ Stg.ll2/10/- per ton, c.i.f., Sydney.

P-N.G.: Sydney buyers on May 26 re ported: Quote No. 1: In store, Rabaul, export quality £lO5 per ton, ex-wharf Sydney, according to quality: £135; quote No. 2: Best quality, on wharf Syd., £l2O-£l5O, in store, N.G. ports £lOO (for UK, continent and USA shipments).

W. SAMOA; —Nominal prices quoted in Sydney, May 18, were: Grade 1, £Stg.l9s/-/-; grade 2, £Stg.l7o/-/-, f.0.b., Apia.

COFFEE:—P.N.G.: May 26, good quality A grade, per lb. 4/4; B grade 4/2; C grade, 3/6 to 3/9, c.i.f., Sydney.

Overseas c.i.f. coffee prices were re ported on May 11 as: Kenya AA £Stg.39s, A £ Stg.3BB, B £ 5tg.372, C Stg.37o; Tanganyika AA £Stg.39o, A £ Stg.3Bs, B £Stg.374, C £ 5tg.369; Uganda Robusta (standard) f.a.q. £ Stg.lB4, cleaned and washed £ Stg. 189; Bukoba £Stg.37o; Mataari £Stg.4ls; Sannani £Stg.4os.

PEANUTS. P.-N.G.: Sydney agents reported May 26—f.0.b., Lae; Kernels— white Spanish 1/5 lb.; Virginia bunch 1/7 lb.

RUBBER.—P.-N.G. price is based on Singapore rate, which on May 21 was; No. 1 RSS, Spot, 73 Vi Straits cents per lb (25.55 d Aust.).

VANILLA BEANS.—Victor Karp Tulk & Co., Sydney, reported May 26; White and yellow label processed, standard packs, 42/-, green label 40/-, c.i.f., Sydney.

RICE (Aust.): Prices until May 1. 1965 (new prices were still being nego tiated in late May) P.-N.G.: Dry brown and dressed, 112 lb bags, £59/10/per ton, f.o.w. Vitamised and enriched white, 112 lb bags, £65/15/- f.o.w.

Other Pac. Islands: Dry, white or brown, etc., £6B/-/- (any quantity), f.0.w., Sydney or Melbourne.

PEARL SHELL. —Quotations for Aus tralian M.O.P. Shell on May 26 by Sydney independent shell agents were: Sound £B5O, D £625, E £335, EE £235 (in store Sydney). Cook Islands: Penrhyn £NZ42S (approx.), f.0.b., Raro tonga.

TROCHUS. —Sydney buyers on May 26 indicated the following quotations to Islands producers: No. 1 Papua nominally £9O per ton, f.0.b., Papuan ports; N.G. and 8.5.1.—£85-£9O. f.0.b..

Islands ports. No. 2 —Papua—£80-£9O per ton; N.G., 8.5.1. — £75-£B5 per ton.

GREEN SNAIL SHELL.—Sydney buyers quoted on May 26: No. 1: Ist grade only, £235 on wharf, Sydney. No. 2; £220 (best quality), on wharf, Sydney.

Crocodile Skins. —On May 26

Sydney buyers quoted for 12 in. and over, first grade quality as follows: P.-N.G.— 26/- per in., f.o.b. P-NG ports, small scale (salt water): large scale (fresh water) 15/6 per in. 8.5.1. 24/- (small scale) del. Sydney.

PAPUAN GUM: £B2/15/- f.o.b. Islands port, £95 del. Sydney or Melbourne.

BECHE-DE-MER: Chang Sing Loong Co., Suva, quoted F 2- (4in. to 7 in.) to F3/- (9 in. to 11 in.) lb for well processed commercial varieties.

SHARK FINS: Chang Sing Loong Co..

Suva, offers F4/6 per lb for well-dried fins of commercial quality. ICEP Pty. Ltd., Sydney, quote 6/6 to 8/6 lb., ex-store Sydney, according to quality.

London and US Quotations

COPRA: LONDON, May 25, Philippines, in bulk, $255 US (equal to £Stg.9l/5/5) per long ton, e.i:f., UK/Nth. European ports. Malayan 1% c.i.f. UK/Nth. Euro pean ports, UQ. NEW YORK; May 25, Philippines, $230 US c.i.f., Pacific Coast ports. CEYLON: 1,310 Rupees per ton, f.o.b.

Coconut Oil: London. May 25,

Ceylon, 1% in bulk, £ Stg. 150.

Rubber: London, May 21, June

shipment c.i.f. 21-11/16d Stg. lb; Spot 22d Stg. lb; August shipment 22-15/16d Stg. lb. (£1 Australian is equal to about 2.2 US Dollars or 10 Vz Rupees.)