COPRA COLLAPSE.

Star (Christchurch), Volume LXVI, Issue 20274, 7 April 1934, Page 13

COPRA COLLAPSE.

Fiji Planters in Serious Plight.

ON STARVATION RATIONS. (Special to the ”Star.") SUVA, March 28. \Vith the price of copra. at £3 10/ per ton in Suva, such a. small margin is left for general expenses that many copra. planters with their families are living on starvation rations. Mortgagees are dealing very leniently with those who have borrowed money, as they realise that if pressed the mortgagor could not, pay, but, several planters have asked the banks to take over their properties. In most cases the banks have asked the planter to carry on and make as much as he can, so long as he keeps the property clean of weeds and in good going order. There is no chance of his paying interest. ' The Government has been forced to take notice of the situation, and a committee was appointed to suggest the best means to alleviate the suffering of the victims. The report came up at the present sitting of the Legislature, and several suggestions were made, including a moratorium, a bonus, the reduction of interest on copra. properties to a maximum of 5 per cent, and the raising of the exchange to 125. At the conclusion of the debate the Governor said he recognised. that some immediate help was required, and in the meantime he would forward a. copy iof the debate with the report to the i Secretary of State. He pointed out that the United States was about to impose au‘increased import duty on all oils from abroad to encourage the internal use of local butter and other oil products. This would certainly militate against the improvement in the price of >copra, which seemed the only solution ‘ of a diflicult situation.

Several members said that their only jbjection to a direct bonus (which they regarded as the best means of help) was that they feared that the bonus might not reach the producer, as only the merchants would reap the benefit.