PRICES ALL DOWN

Sun (Auckland), Volume IV, Issue 1041, 4 August 1930, Page 11

PRICES ALL DOWN

COPRA, RUBBER AND COCOA POOR OUTLOOK FOR SAMOA The slump in copra, rubber and cocoa prices is a serious thing tor trade in the mandated territory of Western Samoa. Mr. S. ». Collins, who has been re organising the Reparations Estates there, returned by the Tofua this morning and stated that the price c£ copra is lower than it has ever been before. The rubber market is in such a state that all tapping of trees has stopped on the estates because the market price is lower than the price of production. Cocoa has dropped considerably and the sales are very poor, but the estates managed to sell quite a large amount to New Zealand during the past year. Mr. Collins, who was for four years accountant to the Reparations Estates in Western Samoa, said that the reorganisation is almost complete and ho is returning to Wellington. The estates are doing very well considering the wretched states of the markets. It was hoped later to produce rubber at a cost which would enable it to be sold at a very small margin of profit. The quality of the cocoa had improved and probably the price would be better when the world’s markets became more stable. Cocoa was the only product on which any small profit was being made. SOME PRIVATE PLANTERS Mr. Collins stated that in the Reparations Estates there were 7.000 acres of copra, 1,500 acres of cocoa and 800 acres of rubber. In addition to this several estates were leased to private planters. There was very little country in Western Samoa being allowed to go back to its native state. Previously there has been one or tw'o cocoa areas in almost inaccessible country, but even these had now been leased.

“We are quite hopeful for the future,” Mr. Collins stated. “The present depression is world-wide. One of the reasons why the bottom has dropped out of the copra market is that an enormous combine is working in London and is buying for all who use it.

“The' natives are rapidly settling down and it is hoped that they will soon get back to their old quantity ol production, as they did in the past “Rhinoceros beetles are doing a loot harm, as the natives are not collect ing them. This makes it very difficult for us to cope with the beetle. How ever, it is not increasing in our own plantations. We are endeavouring to obtain a parasite from Malay with which to cope with the pest, and good work in combating its activities nas been done by proper plantation sanitation.”