Produce
p. 83 · Read in the full issue
Prices
Unless otherwise shown, Australian dollar (May 30) equalled; New Zealand, $1.1509 (buying), $1.1451 (selling); Papua New Guinea, K 0.8855 (buying), K 0.8788 (selling); Fiji, $1.0356 (buying), $1.0116 (selling); Western Samoa, tala 0.8603 (buying), tala 0.8480 (selling); Tonga, pa’anga 1.0275 (buying), pa'anga 0.9830 (selling); US, $1.1061 (buying), $1.1013 (selling); UK, £0.6463 (buying), £0.6389 (selling); French Pacific, CFP 100.16 (buying), CFP 98.61 (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, European markets and to Australia and Japan, and coconut oil mills in New Britain.
Latest prices less Kl 7 levy were: Per tonne, delivered main ports, hot air dried. K 266, FMS, K 263, smoke dried, $261.
FIJI: — The board fixes prices on Philippines copra, taking into account freight, taxes, selling costs, shrinkage, etc. Latest prices to producers were: Fiji 1. $233.50, Fiji 2. $223 50, CAS $BO NEW HEBRIDES Copra sold direct by planters to France and Japan, Burns Philp paying on wharf, Vila or Santo May 27 FNH 17,500; London May 20, 224 met francs 100 kg cif Marseilles.
US TRUST TERRITORY— Palau : Ist grade $lBO, 2nd grade, $l7O, 3rd grade, $l6O, at district centre, outer islands $155, $145 and $135 for the three grades. Yap: $l6O, $l5O and $l4O respectively at district centre, outer islands, $135, $125 and $ll5 respectively. Truk, Ponape, Kusaie and Northern Marianas: $l5O, $l4O and $l3O respectively at district centre, outer islands, $125, $ll5 and $lO5. Marshalls $lBO at district centre, $155 outer islands.
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, Vandina and Girzo, 9c Ist grade, BV2C 2nd grade, 7c 3rd grade.
Gilbert Islands 6V?C Per Lb
WESTERN SAMOA Ist grade, T 253.42, 2nd grade T 240 17 fob.
TONGA— All copra sold to EEC, Ist grade, SP7O, 2nd grade, SPSB NIUE Standard, $lBO a tonne gross.
Other Produce
COCOA — Island rates are based on Ghana price Ghana price on May 30 was £stg2,Bos ton, cif.
UK Continent May 31, fob Rabaul, export quality. K 3.450 per tonne, delivered ex-wharf Sydney, $4,200 per tonne.
New Hebrides— London, May 20, 1,150 met francs 100 kg Solomons Delivered Honiara prices recently were $1 per lb Ist grade, 90c 2nd grade Western Samoa T 2.402,54 per ton fob CHILLIES — Solomons, Honiara buyers pay for dry tabasco, 1 st grade 40c per lb, 2nd grade. 30c per lb. Long Red is 20c per lb.
COFFEE PNG May 28 Good quality, per kg: A Grade $6 65; B Grade $6 61; C Grade $6 35, Y Grade $6 15.
PEANUTS PNG. Sydney agents reported recently fob Lae, kernals, white Spanish, 19c per lb BROOMCORN Fiji, Ist grade 16V?c per lb; 2nd grade, 14'/2C per lb; 3rd grade, 4c per lb.
RICE (Aust):— PNG: Dried brown, 25 kilo bags, $298.94 per tonne. Vitamin enriched white, 25 kilo bags, $303.94 per tonne, all fow Sydney/Melbourne.
Pacific Islands; Calrose med grain, white. 25 kilo bags, $320 per tonne. Kula long grain white, 25 kilo bags, $335 per tonne. All prices cif Sydney/Melbourne.
RUBBER London, June 1, 50c-51.5c per 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, $4.50 Melbourne.
TROCHUS Solomons: Co-op and private buyers pay 21c per lb for good quality BLACK LIP — Solomons: Co-op and private buyers pay 25c per lb for good quality GOLD LIP: Solomons: Co-op and private buyers pay 38c per lb.
BECHE-DE-MER Solomons: Co-op and private buyers pay: Ist grade $2.50 per lb; 2nd grade $1 80 per lb; 3rd grade, $1.30 per lb.
GREEN SNAIL Solomons: Co-op and private buyers pay 42c per lb.
TORTOISE SHELL:— Solomons: Co-op and private buyers pay max of $4 per lb, depending on quality.
SANDALWOOD: — New Hebrides, London May 20, 345 met francs per 100 super ft.
SHARK FINS: — Gilbert Is Co-op Federation pays per lb, $1.32 Ist grade, $1 2nd grade, 80c 3rd grade Solomons: Co-op and private buyers pay $2.50 per lb.
COCONUT OIL: PNG: London, May 20, £stg4Bs ton cif N. Europe ports.
MEAL CAKE:— PNG, London, May 20, £5tg104.77 tonne cif E. Europe ports.
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 $Fl=$A99 COOK IS., NIUE: — NZ 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 88.73 (buying), FNH 87.72 (selling).
WESTERN SAMOA:— May 31, through Bank of Western Samoa, controlled from NZ, T 1 = $A1.16.
TONGA;— May 31, PI = $A 97
Norfolk Is, Solomon Is, Gl, Nauru:—
Australian currency is used, no exchange payable on transactions with Australia.
PAPUA NEW GUINEA:— May 31, Through PNG Banking Corp, Bank of NSW, ANZ Bank, Bank of South Pacific, K 1 = SAI 14 FRENCH PACIFIC:— Pacific francs (CFP) are used in New Caledonia, Wallis and Futuna Is, and French Polynesia. French Bank, Sydney, May 31, quoted $A = CFP 99.82 (buying), CFP 98.69 (selling).
May 30, Paris-London, £1 = 8 4960 francs (buying), 8 4910 francs (selling). CFP-London, £1 = CFP 154.5 (buying), CFP 154.3181 (selling). CFP to 1 met franc 18 43 (buying), 17.94 (selling).
Banks should be approached for daily rates.
If only
cows could fly!
Tongan farmers who, last year,
paid for New Zealand dairy cattle
which were expected to arrive in
January, were still waiting for them
in April. Problems with a chartered
ship from Australia were blamed for
the delay.