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.; $U52.26.)

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 —producers sell where they wish. Bulk of copra goes to crushing-mills in Suva.

Jan. 24 prices were: HAD £P63/15/-, M £F6I/5/-.

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 Jan., were; Ist grade, £80; 2nd grade, £7B; 3rd grade, £73 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: —Last official price was approximately £47/10/- (9,500 Pac. francs). French price in Jan. was 1,060 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 first quarter, Jan.-Mar., 1966, are £NZ67/0/4 Ist grade, £NZ6S/15/4 standard grade— both f.0.b., Rarotonga.

Other Produce

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

On Jan. 26 these were approx. £Stg. 177/6/- per ton, c.i.f., Sydney.

On Jan. 24, Quote No. 1: In store Rabaul, export quality £165 per ton, ex wharf Sydney, £lB5. Quote No. 2; Best quality, ex-wharf Sydney, £lB5-£l9O in store N.G. ports £159 (for UK, con tinent and USA shipments).

W. SAMOA:—Nominal prices quoted in Sydney, Jan. 24, were: Grade 1,

£ 5tg.225; grade 2, £Stg.l9o, f.0.b., Apia.

COFFEE. P.-N.G.: Jan. 26, good quality A grade, per lb. 4/3 V 2; B grade 4/2; C grade, 3/6 Vs to 3/9 Vs, c.1.f., Sydney.

Coffee agents reported, in Jan., that the high market prices and lack of actual transactions did not warrant the publication of overseas coffee prices.

PEANUTS. P.-N.G.: Sydney agents reported Jan. 24—f.0.b., Lae; Kernels— white Spanish 1/7 Vs lb.; Virginia bunch 1/9 Vs lb.

RUBBER. —P.-N.G. price is based on Singapore rate, which on Jan. 20 was: Feb. shipment 69% Straits cents per lb (24.19 d Aust.), Mar. shipment 69 7 / 8 Straits cents per lb (24.69 d Aust.), prompt 69>/4 Straits cents per lb (24.15 d Aust.).

VANILLA BEANS.—Victor Karp Tulk & Co., Sydney, reported Jan. 24: White and yellow label processed, standard packs, 51/6, green label 50/6, c.i.f., Sydney.

RICE (Aust.): Prices until May, 1966, are—P.-N.G.: Dry brown and dressed, 112 lb bags, £5B/10/- per ton, f.o.w.

Vitamlsed 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 Jan. 24 by Sydney independent shell agents were- Sound £825, D £590, E £335, EE £235 (in store Sydney). Cook Islands: Penrhyn £NZ4OO (approx.), f.0.b., Raro tonga.

TROCHUS.—Sydney buyers indicated ducers: Jan. 24, Quote No. 1, nominally £7O per ton, 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: Jan. 25, No. 1, Ist grade, £235 on wharf. Sydney 2nd grade, £l2O on wharf, Sydney. No. 2, £220 (best quality), on wharf, Sydney.

Crocodile Skins. On Jan. 20

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. ICEP Pty. Ltd. 22 Taylor St., North Curl Curl, Sydney, quote 6/6 to 8/6 lb., ex-store Sydney, according to quality.

London and US Quotations

COPRA: LONDON, Jan. 21, Philippines, in bulk, $221 US (equal to £Stg.9B/8/ll) per long ton, c.i.f., UK/Nth. European ports. Malayan 1% c.i.f. UK/Nth. Euro pean ports, UQ. NEW YORK; Jan. 21 Philippines, c.i.f.. Pacific Coast ports’ $194 US. CEYLON: Spot, 1,210 Rupees per ton, f.o.b.

Coconut Oil: London, Dec.-Jan.

shipment, Ceylon, 1% in bulk £ Stg.l3o/10/-.

Rubber: London, Jan. 20 Feb

shipment c.i.f., 20y 2 d Stg. lb; Spot 20-7/16d Stg. lb; Apr. shipment 20yad Stg. lb. (£1 Australian is equal to about 2.2 US dollars or 10 V 2 rupees.)