Prices

Produce

Unless otherwise shown, stated quotations are in Australian currency. Australian dollar (May 31) equals: New Zealand, $1.2486 (buying), $1.2442 (selling); Fiji, $1,1218 (buying), $1,0978 (selling); Western Samoa, tala 1.0042 (buying), 0.9901 (selling); Tonga, pa'anga 0.8826 (buying), 0.8650 (selling); US $1.2296 (buying), $1.2246 (selling); UK, £0.7015 (buying), £0.6937 (selling); French Pacific, CFP 106.20 (buying), 104.58 (selling).

Copra

Copra industries are controlled through copra boards in PNG, the Solomons, the Gilberts, both Samoas, Fiji, Tonga, the Cooks and the US Trust Territory. New Hebrides, French Polynesia and New Caledonia do not have boards and copra is either sold individually by growers to overseas buyers or used locally.

PNG: The board, with planters’ reps, directs distribution and sales and pays planters. Shipments are made to UK, Eureopean markets and to Australia and Japan, and coconut oil mills on New Britain.

Latest prices are: Per tonne, delivered main ports, hot air dried, K 136; FMS, K 133: smoke dried, Kl3l.

FIJI: The board fixed prices on Philippines copra, taking into account freight, taxes, selling costs, shrinkage, etc. The price is subsidised. Latest prices were: Fiji 1. $190: Fiji 2, $171: CAS, $7O.

NEW HEBRIDES: Copra is sold direct by planters to France and Japan. Burns Philp paying on wharf, Vila or Santo, April 5 FNH 4,200. May 21 98.5 met francs 100 kg cif Marseilles.

Us Trust Territory: Ist Grade. $Loo,

2nd grade, $9O, 3rd grade, $BO. Outer islands. $75, $75 and $55 ton for the three grades.

COOK ISLANDS: All production is sold to Abels Ltd, Auckland. Prices are based on average world prices for the prior three or six months, and remain in force for three months.

SOLOMON ISLANDS: Copra Board pays, per lb, at Honiara, Yandina and Gizo, 4'/>c Ist grade, 4c 2nd grade, 3Vic 3rd grade.

GILBERT ISLANDS: $179 20 a ton, or 8c per lb.

WESTERN SAMOA: Ist grade.

SWSIO9 50, 2nd grade, SWS96 50 TONGA: All copra sold to EEC. Ist grade, P7O, 2nd grade, P5B.

NIUE; Standard, $147 a tonne gross.

Other Produce

COCOA: Islands rates are based on Ghana price. Ghana price on May 28 was spot £stg 1.266 ton. cif, UK, Continent.

May 31, in store, Rabaul, export quality, K 1.250 per tonne; delivered ex wharf Sydney $1,600 per tonne.

SOLOMONS; Delivered Honiara prices recently were 40c per lb, 1 st grade: 30c, 2nd grade.

WESTERN SAMOA: Ungraded beans, $23 50 (100 lb).

CHILLIES: Solomons: Central Co-op Association pays at Honiara for dried tabasco Ist grade, 35c per lb; 2nd grade, 25c per lb.

Greenacres Ltd buys long red at 14c per lb COFFEE: PNG, May 31. Good quality, A Grade 261 c per kb; B Grade 256.5 c: C Grade 252 c; Y Grade 252 c (ex store, Sydney).

Western Samoa: Recently, WSTEC ground and dried beans, 60 sene per lb wholesale.

PEANUTS: PNG: Sydney agents reported recently fob, Lae; Kernels, white Spanish, 19c per lb.

BROOMCORN: Fiji, Ist grade, per lb; 2nd grade, 14'/2C per lb.

RICE (Aust): PNG: Dried brown, 25 kg bags, $298.94 per tonne. Vitamin enriched white, 25 kg bags, $303.94 per tonne, all fow Sydney/Melbourne Pacific Islands: Calrose med grain, white, 25 kg bags, $3lO per tonne Kulu long grain white, 25 kg bags, $355 per tonne. All prices cif, Sydney/Melbourne.

RUBBER: Singapore, June 2,54 c a kg.

VANILLA BEANS: Prices recently were White and yellow label processing standard packs, $7.50; green label $7 40 cif Sydney Tonga: P 4.20 fob Nukualofa: P 4.50 Melbourne TROCHUS: Solomons: Private companies pay 32c per lb for good quality BLACKLIP: Private companies pay 20c per lb for good quality.

BECHE-DE-MER: Private companies pay: Ist grade, $1 40 per lb; 2nd grade, $1 per lb: 3rd grade, 80c per lb

Exchange Rates

FIJI: May 31: Through Bank of NSW. ANZ Bank, Bank of NZ, Bank of Baroda, First National City Bank, Aust $ on Fiji buying SFI = SAO 88 COOK IS, NIUE: New Zealand currency is used.

NEW HEBRIDES: May 31: Through Banque Nationale de Paris (Sydney), Indosuez Bank, ANZ Bank, Bank of NSW, National Bank of Aust., Commercial Banking Co. of Sydney, Commercial Bank of Aust., Hong Kong and Shanghai Banking

Corp, Barclays Bank International SAI = FNH 94.32 (buying), 93.04 (selling) airmail transfer rate.

WESTERN SAMOA: Through Bank of Western Samoa, controlled from NZ SWSI (tala) = SAO 97 (buying) TONGA: Tonga dollar (pa'anga) = SAO 89 (buying).

Norfolk Is, Solomon Is, Gl, Nauru:

Australian currency used, no exchange payable in transactions with Australia.

PAPUA NEW GUINEA: - PNG kina and toea used; no exchange payable, at present, in transac tions with Australia.

French Pacific Colonies: Pacific

francs (CFP) are used in New Caledonia, Wallis and Futuna Is, and Fr Polynesia French Bank, Sydney, on May 31, quoted: SAI = 106.11 CFP (buying), 104 67 CFP (selling). Paris-London: £1 = 8.31 francs (buying), 8 30 francs (selling). CFP Lon don: £1 = 151.2727 CFP (buying), 151.0909 CFP (selling), CFP to 1 metropolitan franc 18 43 (buying), 17.94 (selling).

Banks should be approached for daily rates.