Copra and its products

Title

Language

English

Source

The American Chamber of Commerce Journal Volume 9 (No. 8) August 1929

Year

1929

Rights

In Copyright - Educational Use Permitted

Fulltext

30 AM2K2UAW CsH/uvibuk jvutwu^ On The Futility of Tennis You serve your vis-a-vis the ball And cut it—kindly thought; You find you might have spared yourself The pains—for “love” is naught. Your fair opponent lofts the ball And hits you in the sinus; “Oh, deuce!” you cry; “Add out!” she smiles, And adding leaves you minus. You hit the ball an awful slam To show the thing who’s boss; Net profit meanly sneaks away And leaves you with net loss. —A. R. E. COPRA AND ITS PRODUCTS By E. A. SEIDENSPINNER Vice-President and Manager, Copra Milling Corporation Copra.—Heavy buy ing pressure principally on the part of local mills advanced the market at provincial concentra tion points during the first three weeks of July. Heavy buying was undoubtedly the result, to some extent, of the much improved Lon don market. Produc tion was handicapped during the early days of July because of bad weather but registered considerable improve ment during the last week of the month. Not withstanding the strong demand from local buyers, further advance in the market seems unlikely, in view of anticipated good production, unless outside markets re-act for the better. Total arrivals at Manila during the month of July were 334,474 bags as compared with 396,005 bags for July, 1928. The improved bids from the Continent were the outstanding feature in the copra market during the past thirty days, prices having ad vanced approximately £3-0-0 for August/Sep tember shipment. This upward movement, we are advised, was due almost entirely to shorts covering, and the market closed with the London market quoted inactive at £22-2-6 which is approximately £1-0-0 lower than the peak July quotation. Latest cable advices as follows: Manila, buen corriente, P9.00 to P9.25; arrival resecada, P10.00 to P10.25; San Fran cisco, $.04-1/4 nominal; London, f. m. m. in bags, £22-2-6. Coconut Oil.—While large U. S. soapers dis played little interest in the improved European market, buyers for the edible trade advanced their bids for comparatively small lots of coco nut oil to 7-1/4 cents f. o. b. tank cars New York. Trading at these figures might have assumed fair proportions but sellers became cau tious and displayed little eagerness to trade. With the Continental market today is quoted inactive at 7 cents f. o. b. tank cars New York. Cottonseed oil, while on the whole steady thruout July, was reported easy as the market, closed, due to favorable weather reports from the Cot ton Belt. Latest cable as follows: San Francisco, $.06-5/8 to $.06-3/4 f. o. b. tank cars; New York, $.07 f. o. b. tank cars; London, no quotations. Copra Cake.—Continued July strength in the grain markets was reflected in a better demand from all sources for copra cake. Some trades for Hamburg were reported at prices ranging between £8-15-0 and £9-2-6. Pressure of resales during the last week of the month has caused buyers to become cautious and though quota tions remain practically unchanged at £8-15-0 there was little business to test the market. With the well-sold-up position of local mills, there should be nothing, as far as the Philip pines are concerned, to depress the market up to the end of the year. Latest quotations as follows: Hamburg, £8-15-0; San Francisco, $35.50 per ton of 2000 lbs; Manila, sellers P65.00 to P70.00 per ton of 1000 kilos ex godown; no buyers. Manila, August 5, 1929. Here’s how to get Manilas! Genuine Manila Hand Made Long Filler Cigars are obtainable in your city or nearby! List of Distributors furnished upon request to— C. A. BOND Philippine Tobacco Agent: 15 Williams St. New York City or Collector of Internal Revenue Manila, P. I. Manilas will satisfy your taste! TOBACCO REVIEW Alhambra Cigar and Cigarette Manufacturing Co. Raw Leaf:—During July the greater part of the new Isabela crop has been bought from the planters. Average prices contracted were about 20% above last year’s figures. This in crease in price was chiefly caused by smaller production and expectations of a higher pro portion of appropriate cigar leaf. Exports main tain a satisfactory volume for July. Com parative figures are as follows: Rawleaf, Stripped Tobacco and Scraps Kilos China.................................................. 12,077 Czechoslovakia.................................. 818,901 Hongkong................ 33,844 Japan....................... 23,500 North Africa..................................... 30,911 North Atlantic (Europe)................. 82,452 Spain.................................................. 1,896,948 Straits Settlements............................ 1,888 Tonkin............................................... 53 United States.................................... 95,658 Uruguay............................................. 14,421 3,010,653 June, 1929.................................. 2,541,531 July, 1928.................................. 404,491 Cigars:—July showed the biggest export to the United States for this year, although yet considerably behind the corresponding 1928 figure. Comparative statistics covering ship ments to the United States are as follows: July 1929, about 14,850,000; June 1929, 11,202,168; July 1928, 17,228,142. RAIL COMMODITY MOVEMENTS By L. ARCADIO Acting Traffic Manager, Manila Railroad Company. The following commodities were received in Manila June 26, 1929, to July 25, 1929, both inclusive, via Manila Railroad: Rice, cavans............ Sugar, piculs........... Tobacco, bales........ Copra, piculs.......... Coconuts.................. Lumber, B. F. ..... Desiccated coconuts, cases..................... 1929 June July 150,250 121,937 178,192 2,464 35,040 36,120 168,200 221,100 1,886,500 3,226,300 733,050 734,400 12,095 12,177 THE RICE INDUSTRY By Percy A. Hill of Muñoz, Nueva Erija. Director, Rice Producers’ Association Prices for both palay and rice have taken an small advance as pre dicted, the former bring• ingfrom P3.90 to P4.20 at buying terminals, and the latter P8.80 to P10.00 according to grade at consuming cen ters. Weather conditions affecting the coming crop have been favor able since the last re port but in general the planting season will be delayed some three weeks in the central Luzon plain due to loss of seedlings and other causes which will have their effect on the coming harvest. Prices of both palay and rice, considering the actual domestic supply, are still low, but this is IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL

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