COOK ISLANDS TRADE.

New Zealand Herald, Volume LXIV, Issue 19743, 16 September 1927, Page 13

COOK ISLANDS TRADE.

A DECREASE IN EXPORTS. EFFECT OF SERIOUS STORMS. IMPROVEMENT IN SHIPPING. [BY TELEGRAPH. —SPECIAL REPORTER.] WELLINGTON, Thursday. The annual report on the Cook Islands says for the year ended December 31, 1926, the value of the imports -was £134,473, and of exports £138,588, showing an excess of exports of £4115. For the previous year the imports were £130,609 and the exports £151,939. During the year 169,668 cases of oranges and other citrus fruits, 30,766 cases of bananas, and 72.087 cases of tomatoes were exported. The export of baoanas was extremely poor, and the copra output showed a drop of nearly 1000 tons on that of the previous year, being just about half a normal year's output. This was due to the very heavy storms experienced in December, 1925, and in April, 1926, Rarotonga being the worst sufferer of all the islands of the froup. It will still be some 12 months efore the islands entirely recover from the effects of the storms, and the prospects of the banana and copra trade for the current year are not at all encouragThe growers are planting heavily this season in tomatoes, and it is hoped the season will be a good one in order that they may make up some of their losses in other directions. As to steamer services, it is anticipated the mail steamer will meet requirements if the arrangement to reserve space for 10,000 cases on each ship all the way from San Francisco is adhered to. In the last annual report reference was made to the unsatisfactory cargo service, but for the coming season the Union Steam Ship Company has effected considerable alterations and improvements to the Waipalu, which is to enter the service, in order to make her suitable for fruit carrying. If she proves satisfactory then a grievance of the exporters which has existed for a great many years will have been removed. New Zealand supplied the bulk of the island imports. The value was £95,531. The report states the financial year commenced with a credit balance of £5343. Revenue received, including a grant of £IOOO from the New Zealand Treasury, amounted to £19,103, and the expenditure was £24,447. The year closed with a credit of £143. The position is not satisfactory, as the principal credits consist of stocks on hand £2257 and amounts owing to Administration £1357, while there is owing £3BIB, mainly to the New Zealand Government on advances account. This position has arisen through a large fall in revenue, which was £5164 less. The yearly expenditure is steadily increasing. Prospects in regard to finance for the coming year are not bright, as the orange crop is again very small and the islands are still faced with large expenditure on account of the heavy rains in December last.