FIJI'S PROGRESS.

Auckland Star, Volume LX, Issue 85, 11 April 1929, Page 19

FIJI'S PROGRESS.

PRESIDENT'S AX) CRESS - i HOPEFUL. -a ■* fr | COLONY'S PROSPEROUS YEAR. (From Our Own Correspondent.} f SUVA, March 2G. 'tn Tils annual address Sir Maynard Hedstrom, president of the Suva Chamber of Commerce, said that the year had been a prosperous one for the colony. For the third time in its history the total trade had exceeded £4,000,000. The two previous occasions had been 1920 and 1921, when prices were at the peak. As an example, in 1920 the value of the sugar exported was £29 per ton, to-day the price was £15 per ton. In 1920 the price of copra was nearly £35 per ton, to-day it was £20 per ton. The figures of to-day meant a much larger volume of trade than in the peak years quoted. As compared, with 1927, imports show an increase of |£259,866 and exports an increase of £703,877, The declared value of sugar in 1927 was £1,125,215, and in 1928 ;£1,827,005. In 1926 exports exceeded Imports by f£259,000, in 1927 by £774,000, and in 1928 by £1,218,000. It was too early to obtain the exact figures of public revenue and expenditure for 1928, but they expected to see a surplus .of £100,000 for the year. During the year, while the bulk of Fiji sugar was marketed in Canada, two cargoes were sent to Liverpool. The obvious reason was to benefit by the British preference. Owing to the depressed condition of the world's markets this preference waa of considerable value to the local sugar industry. The immediate prospects for the industry were not encouraging. The copra industry showed every prospect of considerable development, chiefly owing to the freeing of tho colony from the ravages of the Levuana moth. The output waa a record, namely 27,947 tons. Bananas, in spite of many obstacles, have maintained their value as exports. The colony, however, would materially benefit by the lowering of the import duty of Australia. The export of cotton for the year was 75,3661b, valued at £.">539. An important new industry has been created by the formation of two pineapple canning companies, which promise to considerably increase our exports in the next few years. The canned meat industry had also heen started under good auspices. Dairying showed a steady increase, both in quantity and quality, the latter being due to greater care in selecting a higher quality of dairy type of cow. The year 1020 offered promise of increasing prosperity to the colony.