FACING RUIN.

Auckland Star, Volume LXIX, Issue 136, 11 June 1938, Page 13

FACING RUIN.

SAMOAN PLANTERS.

DROP IN COPRA PRICES

ASSISTED BT N.Z. TRADE.

(From Our Own Correspondent.) APIA, June 2. A further disastrous drop in the copra price on the London market is announced, and the local price has been reduced, to 1/3 per 1001b in Apia and 1/ per 1001b in outside districts for native copra. In spite of the low price ruling, natives have cut copra so far, as they needed ready cash for various large missionary tunctione, especially the annual meeting at Malua of the London Missionary Society. It is probable, however, that the newdrop to the lowest level for many years past will cause the Samoans to declare a "sa," or prohibition to cut copra all over Samoa, and in consequence trade will suffer severely, and with it the revenue of the Administration, based mainly on import duties. Already the local Arms have cancelled large order* for goods. European planter-* are unable to out copra, as the price offered them liee Actually under production cost. The name refers to cacao, which" has also dropped, and for which the local rate is £20 per ton. The planters have appealed to the Administration for a.*«>i>tance, suggesting that tlie Administration, who through the New Zealand Reparation Estate* handle all the cacao in Samoa, advance the planters £40 per ton and dispouve of the produce through tlic produce department of the High Commissioner in London. Without assistance the planters are faced \»4th ruin. It is fortunate indeed for Samoa that New Zealand is taking at the present time about 8000 cases of Samoan bananas per steamer, or hi.ooo cases per month. Without these banana shipments things would look very black indeed.