VERY LOW PRICES.

Auckland Star, Volume LXIX, Issue 280, 26 November 1938, Page 15

VERY LOW PRICES.

COPRA AND COCOA. sam(> a' s i>if fi (r r/r 11: s. VAIMOSO, November 20. While the Kliropean and American markets for copra and cocoa remain very low, the banana industry has become the mainstay of Western Samoa, but it is a blessinrr only Jn the people living on the north coast of this one island of Cpolu. and does not affect the south coa.st of I'polu and the whole of Savaii. Ihe qnofa for Samoan bananas has increased and has helped trade vcrv considerably. With t iicir overhead expenses cut down lo a minimum, the Knropean cocoa planters are not doing so badly, hut copra at per. ton in Savaii dues not cover labour of Oie producers. Am it ,is ()k> only mean* of getting any money, the Saiuoans have had to cut their copra after waiting a long while for better prices <luriiig which the markets have fallen till copra is nowquoted at a little above £9 per ton in the London market. Cocoa, remains around £40 per ton for first grade. With kerosene at about twice the price it was before the war. Samo-ans have in many case* been reduced to burning coconut oil for lighting purposes.

The copra export duty remains at £1 10/ per ton but if is difficult to knowwhere the money is to come from to cover the export duty if it is removed. It i« hoped that the overseas markets for copra and cocoa will soon improve or conditions in Samoa will be reduced to a very poor state.