Copra Bounty For P-NG Planters
p. 142 · Read in the full issue
P-NG Planters
Papua - New Guinea copra planters are to get the first fruits from a stabilisation fund estab lished in 1946 amid many pro tests from planters. In 1966-67 they will share in approximately $250,000, paid as a bounty at the rate of $2 a ton on copra produced.
The stabilisation fund now totals about $8.7 million and the payments can be made from the interest without the principal being affected. Interest is in fact considerably more than the first payments proposed about $400,000, and still building up.
The fund was established from levies on the export of copra.
Planters have not had to pay any levies since 1959.