HOLDING ITS OWN

Evening Star, Issue 21785, 30 July 1934, Page 10

HOLDING ITS OWN

SAMOA’S ECONOMIC POSITION PRICES FOR PRODUCTS STILL LOW [Special io the ‘ Star.’] WELLINGTON, July 30. Samoa, which lor many years required loans from New Zealand to maintain administrative expenses, is managing without this assistance, while private planters are having a difficult time owing to low prices. The island is just managing to hold its own economically. Copra, at £8 a ton in London, is hopelessly below the cost of production, but rubber, which has been depressed for many years, has improved to 7Jd a pound in London, owing to the restrictive scheme among the principal producing countries. The results are showing in Samoa, where the current price is regarded as moderately profitable, and the Aleisa Estate, a reparation property, is being again utilised for rubber production, about 1,000 acres being tapped this season. Cocoa, once £9O a ton, is quoted at £3O, and production is continuing. Bananas, .which are subject to the general restrictive scheme among the chief producing countries, are being marketed at a moderately profitable price, regular service by the_ New Zealand Government steamer being an important. factor in maintaining this profitable business. It has been demonstrated, as a result of the investigations by Dr Hoskins, of the Scientific Research Department, that Samoa can produce important essential oils, and if the market improves this will provide another good economic asset to the country, which even now is just holding its own economically.