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.; 5U52.25.)

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.

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

August 23 prices were: HAD £F6I/5/-,

M £Fsb/15/-.

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, in August, were: Ist grade, £7O/-/-; 2nd grade, £6B/-/-; 3rd grade, £63/-/- 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 Copra Board subsidises the price at: First Grade £6/4/2 per ton, Second Grade £2/2/1 per ton.

NEW HEBRIDES:—Price on July 29 was approximately £A47/10/- (9,500 Pac. francs. French price on July 29 was 1,035 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 third quarter, July-Sept., 1965, are £NZBO/11/2 Ist grade, £NZ79/6/2 standard grade— both f.0.b., Rarotonga.

Other Produce

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

On August 23 these were approx. £Stg.l2o/-/- per ton, c.i.f., Sydney.

Sydney buyers in late August reported an unsettled market, with prices varying widely from day to day. On August 24, Quote No. 1: In store Rabaul, export quality £lO5 per ton, ex-wharf Sydney, £l3O.

On August 23, Quote No. 2: Best quality, on wharf Sydney, £ll5-120, in store N.G. ports £9l/10/- (for UK, con tinent and USA shipments).

W. SAMOA: —Nominal prices quoted in Sydney, August 13, were: Grade 1, £ Stg.lso/-/-; grade 2, £ Stg.loo/-/-, f.0.b., Apia.

COFFEE.—P.-N.G.: August 23. good quality A grade, per lb. 4/4y 2 ; B grade 4/2 y 2; C grade, 3/6 y 2 to 3/9 y 2, c.i.f., Sydney.

Approximate overseas c.i.f. coffee prices were reported on August 23 as: Kenya AA UQ, A £Stg.4l7/6/-, B £ Stg.4lo, C £ Stg.4os; Tanganyika AA UQ, A £ Stg.4oo, B £Stg.39s; Uganda Robusta (standard) f.a.q. £Stg.2s6 cleaned and washed £Stg.26l; Mataari £ Stg.4lo; Sannani £ Stg.39o.

PEANUTS. P.-N.G.: Sydney agents reported Aug. 23 —f.0.b., Lae; Kernels— white Spanish 1/7 y 2 lb.; Virginia bunch 1/9 y 2 lb.

RUBBER.—P.-N.G. price is based on Singapore rate, which on Aug. 19 was: No. 1 RSS, Spot, Sept, shipment, 67 y 2 Straits cents per lb (23.54 d Aust.); Oct. shipment, 68 Va Straits cents per lb (23.76 d Aust.).

VANILLA BEANS.—Victor Karp Tulk & Co., Sydney, reported Aug. 23: White and yellow label processed, standard packs, 49/6, green label 48/6, c.i.f., Sydney.

RICE (Aust.): (New prices being nego tiated in late August), current prices— P.-N.G.: Dry brown and dressed, 112 lb bags, £5B/10/- per ton, f.o.w. Vitamised and enriched white, 112 lb bags, £65/-/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 August 23 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 Aug. 23 indicated tide following quotations to Islands producers; No. 1 Papua nominally £9O per ton, f.0.b., Papuan ports; N.G. and 8.5.1. £B5- £9O, f.0.b..

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

GREEN SNAIL SHELL.—Sydney buyers quoted on August 23: No. 1: Ist grade only, £235 on wharf, Sydney. No. 2: £220 (best quality), on wharf, Sydney.

Crocodile Skins.—On August 23

Sydney buyers quoted for 12 in. and over, first grade quality as follows: P.-N.G,— 28/- per in., f.o.b. P-NG ports, small scale (salt water); large scale (fresh water) 17/- per in. 8.5.1. 28/- (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.

London and US Quotations

COPRA: LONDON, Aug. 23, Philippines, in bulk, $214 US (equal to £Stg.76/14/-) per long ton, c.i.f., UK/Nth. European ports. Malayan 1% c.i.f. UK/Nth. Euro pean ports, UQ. NEW YORK; Aug. 23, Philippines, $lB7 US c.i.f., Pacific Coast ports. CEYLON: 1,050 Rupees per ton, f.o.b.

COCONUT OIL: LONDON, August ship ment, Ceylon, 1% in bulk, £ Stg. 118.

Rubber: London, Aug. 19, Sept,

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