Copra and coconut oil
Media
Part of The American Chamber of Commerce Journal
- Title
- Copra and coconut oil
- Creator
- Rice, William S. Jr.
- Language
- English
- Year
- 1954
- Rights
-
- Fulltext
- March, 1954 AMERICAN CHAMBER OF COMMERCE JOURNAL 107 pated import licenses. However, this situation is rather confusing because the Philippme-Japan Trade Agreement expires on March 17, and even though MITI does license imports early in March, Philippine exporters will be unable to operate against the new import licenses prior to the expiration of the Agreement. We are of the opinion that eventually the Trade Agreement will be extended for a further month and a half to three months. From the weakness in consuming markets, it is quite obvious that we have found a marked decline in prices throughout the Philippines during the month of February. We are extremely cohcerned regarding future production throughout the Islands at present price levels. While we believe producers generally will strip standing abaca stalks, we feel they will delay production as much as possible; they will not let the stalks rot in the fields. We are of the opinion that planters in the Davao area will discontinue spending large sums of money combating mosaic disease, and certainly we cannot visualize planters being interested in planting further areas with new abaca at present prices. We detail below the usual statistics. The February figures will be included in our March report. Balings—Jan uary 1954 1953 1952 1951 1950 Total............................ 77,379 83,443 79,535 90,927 54,116 Expor ts—Jan uary Davao................................... 48,073 38,060 44,606 40,025 22,822 Albay/Camarincs/ Sorsogon.......................... 9,981 27,875 15,220 25,813 14,966 Leyte/Samar...................... 11,038 8,484 13,319 14,821 9,618 All others............................ 8,287 9,024 6,390 10,268 6,710 United States and Canada................................. 16,<413 22,136 38,466 43,153 21,704 Continent of Europe........ 15,404 17,799 15,683 14,887 5,619 United Kingdom.............. 12,840 12.364 14,306 9,650 9,546 Japan .................................... 18,536 29,445 8,500 4,910 9,464 South Africa...................... 150 700 1,300 970 80 China.................................... 350 220 1,120 310 550 India..................................... 430 512 520 300 500 Korea................................... Australia and. New Zea ~~ land.............'................... 700 400 — — 625 Others.. ................................ 25 — — — Total............................ 64,948 83,576 79,895 74,180 48,088 Copra and Coconut Oil By William S. Rice, Jr. Copra Buyer, Philippine Manufacturing Company THE market eased during the first week of the month, setting the tone for February, and the long advance begun last August reversed as trading was done at successively lower levels. The major breaks occurred during the second and fourth weeks, due to multiple depres sing influences, such as, limited European demand, aggressive dealer selling, improved Philippine production, and large quantities of African palm kernels available as a copra substitute primarily in Europe. Copra Prices. During February, prices to the United States ranged widely downward from $217.50 c.i.f. to $187.50 per short ton, off $30.00 for the month. European trading, however, seemed to set the trend, and prices ranged from $245 down to $200 per long ton c.i.f. European ports, off $45 for the month. Speculators pushed the market to this low level at the end of the month with a good quantity of sales at $200 per long ton c.i.f. European ports, MarchApril shipment. In Manila the local price for fresh copra, resecada basis, 30-day delivery, followed the export prices and declined from P41.50 at the beginning of the motnth to P34.00 per 100 kilos at the close, down P7.50. The market rallied temporarily during the third week, while production caught up with the decline, and prices moved up about P3 before the decline resumed. B. F. Goodrich SILVERTOWN Wide, road-level tread wears slowly. Strong, rubber-sealed cords absorb road shock, lengthen tire life. Low-pressure construction cushions your ride for comfort. B. F. Goodrich Silvertowns cost you less per mile. Remember—B. F. Goodrich, P'irst in Rubber —makes the tires that arc best in the long run. Watch for the friendly Goodrich sign— MORE THAN 200 DEALERS THROUGHOUT THE PHILIPPINES 108 AMERICAN CHAMBER OF COMMERCE JOURNAL March, 1954 Coconut Oil Prices. Coconut oil prices did not move over so wide a range, but in general followed the pattern of copra prices and moved down from 15-5. 8/ t * 13-3/4X per pound f.o.b. tank cars, Pacific Coast, for Apri shipment. Oil stocks in the United States continued at high level. Copra Cake and Meal Prices. The West Coast meal market has shown some signs of weakness because at competition from cottonseed meal which is being freely offered at lower prices, but the market is still at $70-$73 per short ton c.i.f. West Coast. Copra Statistics Coconut Oil Exports United States.............................................. 4,845 3,463 OthK .CoiaotnCS . . • -“mu . . «. —« Total.................................................. 4,845 *2 '5^63 Manila and»Cebu Copra Arrivals .. . (Jn Metric Tons) Philippine Copra and Coconut Oil Exports (In Long Tons) December Copra Exports United States................................................ 30,199 Europe............................................................ 22,000 Other Countries.................................................. 1,753 January (1954) 1951 monthly average. 1952 monthly average............. 1953 monthly average............. January, 1954 ............................. February, 1954........................... February, 1953 .......................... February, 1952 .......................... February, 1951.......................... MafiWa Manna Cebu and Ceba *14,344 19,667' •34,011 14,604 15,102 29,706 12,052 15,979 28,031 13,038 15,490 28,528 11,674 14,218 25,892 7,741 13,029 20,770 16,570 11,705 28,275 12,849 20,698 33,547 Total. 53,952 22,685 25,650 1,986 FROM THIS DAY ONWARD! Old Gold cI GAR ETTE S The graduating mon and women of today are the pro mise of tomorrow. They are pledged to offer their services unselfishly and willingly to the country. Rat. Phil Pat. Off. I OLD GOLD, too, has a promise — to continue curing just one thing: the world’s best tobaccos... to offer the same friendly blend smokers have come to love. Listen to OLD GOLD'S "TWO FOR THE MONEY.” over Station DZRH. Manila, every Mi nday, 8:00-8:30 P.M. and over Station DZPI, Manila, every Saturday, 7:00-7:30 P.M. P. Lorillard Company Established 1760, U. S. A. Philippine and Indonesian Copra Exports (In Metric Tons) Philippine Indonesian November, 1953 ................ Copra Exports . . . . 43,511 Copra Exports 21,986 December, 1953................. 62,269 18,359 1953 monthly average . . . 57,821 19,998 1952 monthly average . . . . . . . 67,533 23,992 1951 monthly average . . . . 74,586 38,566 January, 1954...................... 53,992 15,116 January, 1953.................... 41,025 14,230 January, 1952 .................... 77,050 32,657 January, 1951...................... 68,890 27,181 'Include coconut oil exports converted to copra. Production and Future Prospects. Even though copra production is in a seasonally-low period, it is much improved over the same period last year. Arrivals at Cebu and Manila are up about 30% from January February, 1953. During March production should begin to rise from the present seasonal low. Improved production coupled with limited demand, particularly in Europe, should result in gradually declining prices over the next few months. Desiccated Coconut By Howard R. Hick President and General Manager Peter Paul Philippine Corporation FOLLOWING are the shipment figures for the month of January, 1954: Shippers Franklin Baker Company Blue Bar Coconut Company Peter Paul Philippine Corporation Red V Coconut Products, Ltd. Sun Ripe Coconut Products, Inc. Cooperative Coconut Products, Inc. Pounds 292,600 580,730 1,041,500 1,472,500 82,500 0 3,469,830 lbs. Philippine Languages-(Confinued from page 93) LANGUAGES AND DIALECTS SPOKEN (000’s omitted) 1948 1939 1948 Rank Language % Number % Number 1 English........................ 26.6 4,831 32.4 7,156 +5.8 2 Tagalog...................... 25.4 4,068 32.2 7,126 + 7.8 3 Cebuano-Visayan. . 22.6 3,620 25.5 4,840 +2.9 4 Ilocano........................ 14.7 2,353 13.1 2,678 —1.6 5 Hiligaynon................. 12.1 1,951 12.8 2,436 +0.7 6 Biccl ............................ 8.0 1,289 8.1 1,535 +0.1 7 Waraywaray (Samar) 5.7 920 6.4 1,226 + 0.7 8 Pampango.................. 3.9 621 3.7 707 —0.2 9 Pangasinan................. 3.6 573 3.5 665 —0.1 10 Spanish........................ 2.6 417 1.8 345 —0.8 LANGUAGES SPOKEN COMPARED TO MOTHER TONGUE (000’s omitted) Numerical Mother Non-Mot her Percentage Rank Languages Tongue Tongue Non-Mother 1 English...................... 20 (est.) 7,136 (est.) 99 2 Tegalog...................... 3,730 4,366 61 3 Ilocano...................... 2,340 347 13 4 Pangasinan............... 515 150 22 5 Bicol.......................... 1,467 68 4