Produce

Prices

Unless otherwise shown, quotations are In Australian dollars. Australian dollar (August 30) equalled: New Zealand, $1.1435 (buying), $1.1377 (selling); Papua New Guinea, K 0.8766 (buying), K 0.8700 (selling); Fiji, $1.0275 (buying), $1.0035 (selling); Western Samoa, tala 0.8732 (buying), tala 0.8606 (selling); Tonga, pa'anga 1.0275 (buying), pa anga 0.9830 (selling); US, $1.1099 (buying), $1.1051 (selling); UK, £5tg0.6395 (buying), £5tg0.6321 (selling); French Pacific, CFP 99.55 (buying), CFP 98.00 (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, K2OB, FMS, K 205, smoke dried, K 203 FIJI — The board fixes prices on Philippines copra, taking into account freight, taxes, selling costs, shrinkage, etc Latest prices to producers were: Fiji 1, $212, Fiji 2. $202, CAS $BO NEW HEBRIDES Copra sold direct by planters to France and Japan, Burns Philp paying on wharf, Vila or Santo July 20 FNH 12 000, London August 15, 155 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, Yandina and Gizo, 9c Ist grade, B'he 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, recent quotes not available NIUE — Standard, $lBO a tonne gross

Other Produce

COCOA Island rates are based on Ghana price Ghana price on August 29 was £)stg2 439 ton, cif, UK Continent.

August 29, fob Rabaul, export quality, K 3 100 per tonne, delivered ex-wharf Sydney. $3 725 per tonne.

Naw Habrldas;— London, August 15. 1 260 met francs 100 kg Solomons — Delivered Honiara prices recently were $1 per lb Ist grade, 90c 2nd grade Wsstsrn Samoa T 2 402 54 per ton fob CHILLIES — Solomons, Honiara buyers pay for dry tabasco. Ist grade 40c per lb. 2nd grade, 30c per lb. Long Red is 20c per lb.

COFFEE — PNG August 29, cil Sydney. Good quality, per kg A Grade $4 50: B Grade $4 45. C Grade $4 10. Y Grade $4 10

PEANUTS — PNG. Sydney agents reported recently fob Lae, kernals, white Spanish, 19c per lb BROOMCORN— Fiji, Ist grade I6V2C per lb; 2nd grade, 14'/?c 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, August 30, 54 40p-56p 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-OER —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, August 15, £stg99 tonne cif E Europe ports.

Exchange Rates

FIJI: — August 29, Through Bank of NSW, ANZ Bank, Bank of NZ, Bank of Baroda, First National City Bank, Aust $ on Fiji, buying $Fl=$A 99 COOK IS., NIUE:— NZ currency is used NEW HEBRIDES:— August 29, 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 87 87 (buying), FNH 86 83 (selling).

WESTERN SAMOA: — August 29, through Bank of Western Samoa, controlled from NZ, T 1 = $A1.16 TONGA;— August 29, PI = SAI 01

Norfolk Is, Solomon Is, Gl, Nauru:—

Australian currency is used, no exchange payable on transactions with Australia.

PAPUA NEW GUINEA:— August 29. 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, August 29, quoted $A = CFP 99 29 (buying), CFP 98.12 (selling) August 26, Paris-London, £1 = 8 535 francs (buying), 8 3800 francs (selling) CFP-London, £1 = CFP 155 4545 (buying), CFP 155 2727 (selling). CFP to 1 met franc 18 43 (buying), 17 94 (selling).

Banks should be approached for daily rates.

• An oil drilling programme in

Fiji is expected to start in 1978. A

Fiji government spokesman said the

work would be undertaken by

Dakota Exploration (Fiji) Ltd,

which was formed by US interests in

Dakota and California. Exploration

will be in the sea around eastern

Viti Levu and the Lomaiviti islands.

The programme, over four years,

will cost about $F2.9 million.