New Pago seafood plant
pp. 38-39 · Read in the full issue
Trade Winds
Fiji plans boost in sugar
THE Fiji Sugar Corporation is embark
ing on a capital development program
me expected to cost SFI3O million over the next five years it will increase FSC’s production capacity to 600,000 tonnes a year.
The programme includes massive re habilitation and upgrading of factory equipment, transport infrastructure and communication systems. One of the top priorities is the upgrading at the Lauto ka Mill before the 1990 season whereby a diffusor costing $l2 million will extract cane juice instead of crushing, this achieving a higher extraction rate. The Rarawai Mill is to have two of its
crushing mills replaced.
The corporation has replaced all
weight registering equipment at its mills
with modern scales, has installed compu ters to collect the weights and pass them after validation of grower information to the cane accounting system.
The crushing season started on June 6, and ends in early January.
Solomon Air rise pause
SOLOMON Airlines has been asked to stagger its intended fare increases in the public interest. The Minister for Tour ism and Aviation, Victor Ngele, said the introduction of the full nine per cent increase was too great for travellers to absorb immediately. The airline in creased the fares by four per cent in June, with the balance of five per cent due in October.
New Pago seafood plant
THE American Samoan Government has leased Tautai Fisheries Company a site in the Malaloa area of Pago Pago har bour for a new seafood processing facil ity. The new plant will process fresh and frozen fish bought from local fishermen as well as from the canneries.
Tautai’s major products are fish steaks
cut to a size suitable for a single meal.
The company has opened new markets in the United States of American Samoa seafood after identifying buyers on the West Coast for portioned swordfish, shark, marlin and other species. The company’s limited facilities have been a
major impediment to greater production
and sales.
EIE invests in Tahiti
THE fast-growing Japanese interests in the South Pacific have grown still further with the EIE group agreeing to invest SUSISO million in building 100 new rooms at the Tahiti Beachcomber, re novation of the Moorea Beachcomber and the Hyatt Regency Tahara’a. The investment will be channelled through its
subsidiary Tahiti Holdings B.V.
Air France has now opened its weekly Tokyo-Tahiti service, while UTA oper ates twice a week between Noumea and
Tokyo.
Henry plans housing loan
COOK Islands Development Bank lend ing activities are to be expanded to in clude housing finance, the Prime Minis ter, Geoffrey Henry, told the recent Asian Development Bank meeting in
Beijing. He said this would not only stimulate the building industry, with the multiplier effect on the rest of the eco
nomy, but would help people returning
to the Cook Islands with little prospect of being able to save for their own home.
PNG banks lend more
PAPUA New Guinea’s Central Bank has lowered the liquid assets ratio, which means that banks will now have to hold 12 per cent of total deposits in cash in stead of the previous 14 per cent. This is aimed at stimulating commercial bank lending and is expected to free up about K2O million.
Governor Sir Henry Toßobert said the Central Bank was worried there was too little money being lent, and the addition al cash should allow a fall in interest rates. There has been a serious down turn of business in the non-mining pri vate sector during the first four months of 1989. Commercial banks have not been lending enough money to maintain the targeted lending growth rate of be tween nine and eleven per cent.
The Central Bank has also removed the penalty it had placed of commercial banks seeking to borrow from its Dis count Facility. The penalty was intro duced last year when the Central Bank wanted to curtail lending.
U.S. accepts Cooks taro
UNITED States authorities have allowed the import of 30 tonnes of taro a month from the Cook Islands. Now Cooks’
Trade and Agriculture Minister Vaine Tairea is seeking an agent in Hawaii to handle the new trade. The Minister is also looking at the possibility of pureeing pawpaws for export to Hawaii.
Samoan bananas banned
MEALY Bug Disease was discovered in a shipment of Western Samoan bananas arriving in Auckland, which has led to New Zealand ban on the crop until the problem has been overcome. Western Samoan Minister of Agriculture, Pule Lameko, said his government was now promoting scientific efforts to over come the poor quality of bananas, and would be taking steps to increase sub sidies to farmers.
PNG gets navigation aids
THE Queensland Department of Har bours and Marine will supply solar powered navigation beacons to the Mis ima Mining Company which is develop ing a port to serve its goldmine on the island of Misima. The contract is worth $A 16,000.
Moorea hotel in Tahiti: getting EIE funding.
Evercrisp plans
chip factory
AN Australian company is planning a K 3 million potato chip factory using potatoes grown in Papua New Guinea.
An agronomist from Evercrisp Snack Products Pty Ltd is in Mount Hagen growing seeds which will be distributed to growers throughout the Highlands.
The factory is planned to be in produc tion by September 1990.
The company agronomist will also teach farmers how to grow the special type of potato needed for making chips.
The company will, in the meantime, con centrate on raising potato chip sales in preparation for local production.
The project is being welcomed by Papua New Guinea potato farmers who have been struggling for years to find a suitable long-term market for their pro duce. In the past, many of the potatoes grown in the Highlands have been thrown away because of the high freight costs and limited market within Papua New Guinea.
Tonga’s bank opens
NATIONAL Reserve Bank of Tonga is due to open this month and will take over central bank functions from the Bank of Tonga. The new organisation will regulate the issue of currency and manage international exchange, the country’s foreign reserves and promote the financial stability of the Tongan eco nomy.
The bank’s authorised capital is Ts 2 million and is currently seeking em ployees in preparation for its opening.
Luganville develops
THE Vanuatu government is to establish an industrial estate in Luganville, on the island of Espiritu Santo, in order to en courage companies and industries to establish themselves in the town. The Minister for Trade, Commerce and In dustry, Harold Qualao, said the govern ment wanted to see Luganville de veloped as a major commercial centre in Vanuatu.
Expansion at Airport
AN increase in international traffic, much of it from Japan, has led Hawaii’s Department of Transportation to build a new international arrivals building at Honolulu Airport. While most of the visitor increase is due to Japan’s 10 Mil lion Plan that encourages its nationals to travel abroad, the department is expect ing a new wave of international passen gers to come from Europe.
The design for the new facility in cludes four floors.
Tuvalu strikes northwards
THE new Pacific Forum Line shipping service which runs from Fiji, to Tuvalu, Kiribati and the Marshall Islands has already generated new trade. Tuvalu, whose only links with the Marshall Is lands previously had been the Airline of Marshall Islands flight, has now negoti ated export orders to that country for sweet potatoes, honey, jams, soap and copra. A Tuvalu trade delegation has also visited Kiribati, and the country will soon send a trade mission to Australia and New Zealand to investigate export
possibilities there.
Marshalls join SPARTECA
THE Republic of the Marshall Islands has joined the South Pacific Regional Trade and Economic Co-operation Agreement (SPARTECA) in the hope of expanding its trade with the countries of the region. The Marshall Islands (pop. 30,000) now has a regular shipping ser vice provided by Forum Line.
The Marshall Islands are eager to les sen their trade dependence on the Un ited States, and are looking to make more purchases of supplies among the countries of the South Pacific.
Placer told to clear up
PLACER Pacific Ltd has been told to clear up after mine wastes from the com pany’s gold mine on the Papua New Is land of Misima had polluted water in creeks and rivers. The water is used by local villagers. Environment and Con servation Minister Jim Yer Waim said the pollution posed a serious health threat, and there was now a shortage of
drinking and cooking water.
The minister said the company had
failed to honour a compensation agree ment within the villagers under which Placer would build alternative water supply systems if natural sources were affected.
Fiji Air makes profit
Fiji’s domestic airline, Fiji Air, had sur vived the aftermath of the tourism downturn by cutting back scheduled ser vices to non-profitable destinations and had also increased charter flights. The company recorded a profit of SUS3O,OOO for the year to December 31, 1988.
Fiji, Australia talk tax
AUSTRALIA and Fiji are to negotiate later this year over a double-taxation agreement. The proposed agreement would prevent companies operating in both countries being taxed twice, and would involve Australia’s recognition of certain Fijian taxation concessions to
foreign investors.
Talair gets Dash 8
PAPUA New Guinea’s largest third-level airline, Talair, has been given the go ahead by the national government in Port Moresby to buy its second Dash 8 aircraft. The new 36-seater plane will en ter service this month.
Talair now serves 193 aerodromes with more than 600 flights a week, and operates charter and freight services as well. The company has said its latest air craft will further its plans to replace pis ton-engined aeroplanes with fast and re liable turbine commuter aircraft.
Loan funds Fiji phones
FIJI is to acquire new equipment for the national telephone network and to send telecommunications staff abroad for training. The Department of Posts and Telecommunications will borrow SUSB million from the World Bank to pay for the projects. The department is to be privatised by November.
Fiji hits top 10
A WORLD survey has ranked Fiji in the top 10 of the world’s 60 sugar-producing countries. The survey by the Landwell Mills Commodities Studies adds that Fiji is the world’s number six as far as mill
performance goes.
But the report says Fiji needs to cut its fields costs where it is ranked 21st in the world. Fiji continues to grow as a highly efficient sugar producer and its strength lies in its mill performance, it says.
Marshalls Ambassador Laurence Ed wards (left) and Forum Secretariat secretary general Henry Naisalu sign the agreement in Suva allowing the Marshalls to join SPARTECA.