Produce Prices
p. 123 · Read in the full issue
(Unless otherwise stated, quotations arc in Australian currency. Australian dollar equals $l.OO New Zealand; 98-99 cents Fiji; 110 French Pacific francs; $1.24 Western Samoa; $l.OO Tonga; 9/3 sterling and $l.ll USA).
Copra
Copra industries are controlled through copra boards in NG, the Solomons, the GEIC, both Samoas, Fiji, Tonga and the US Trust Territory.
New Hebrides, the Cooks, French Polynesia and New Caledonia don't have boards and copra is either sold individually by growers to overseas buyers or used for local making of soap, etc.
The boards were born after World War II and their functions, which vary among terri tories, include orderly selling overseas, main taining stabilisation funds, raising government revenue and developing copra on long-term bases.
NEW GUINEA: The board, with planters' reps, directs distribution and sales and pays planters. Buyers include: Unilever, of the UK, Australia and Japan, and coconut oil and desiccated coconut mills (controlled by Car penters) on New Britain.
September prices, delivered main ports, were: hot-air dried, $l3l per ton; FMS, $l2B per ton; smoke-dried, $126 per ton.
FIJI: —The board fixes prices on Philippines copra, taking into account freight, taxes, selling costs, shrinkage, etc. Prices recently were: Ist grade, $F131.25; 2nd grade, $F121.25; CAS, $F109.75.
WESTERN SAMOA: The board makes pay ments to producers through its agents—local firms—and sells the copra on the open market with a portion to Abels Ltd., NZ. Recent prices were SWSIIB for Ist grade, SWSIIB for Ist grade sun dried, and SWSIOS for 2nd grade.
TONGA: All copra is sold to the board which sends it to Europe and the open market. September prices to growers were STBS Ist grade and ST73 2nd grade, per ton. Per coconut, 1.4 sen.
SOLOMON IS.: —All production through board at prices based on Philippines rates. Output goes to the UK, Japan, Australia and the rest to the open market. Recent prices were: Ist grade, $120; 2nd grade, $116; 3rd grade, $lO6 per ton, BSIP ports (Honiara, Yandina and Gizo).