Copra price
p. 99 · Read in the full issue
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Mr. K. G. Oliver, general manager of the PNG Copra Marketing Board, reported in Port Moresby on June 18: The second half of May saw the trend in copra prices continue gener ally lower except for a brief period following reports of damage resulting from the first of the season’s typhoons in the Philippines. The typhoon was, however, of little consequence and its effects on plantations was dis counted quite rapidly and the price slide continued.
Early in the second week of June, selling pressures from the Philippines pushed copra prices down so that sales, for July shipment, were re corded as low as SUSIB9i per ton c.i.f. North European ports. A subse* quent relaxation of origin selling and lack of offers from Indonesia at tracted some dealer activity and busi ness improved up to SUSI 93 for June shipment. SUSI9S for July and as high as $U5197.25 per ton c.i.f. for September shipment.
The market was further streng thened by good demand from the United States for Philippine coconut oil and by further improvement in the European markets for this same commodity.