The Rice industry
Media
Part of The American Chamber of Commerce Journal
- Title
- The Rice industry
- Creator
- Hill, Percy A.
- Language
- English
- Year
- 1937
- Rights
-
- Fulltext
- 42 THE AMERICAN CHAMBER OF COMMERCE JOURNAL January, 1937 THE RICE INDUSTRY By PERCY A. HILL of Munoz, Nucva Ecija Director, Rice Producer's Association Prices of luxury rice range from 1*5.45 to 1*6.55 per sack of 56-1/2 kilos with palay of that grade from 1*2.30 to 1*2.40 per cavan of 44 kilos. Macans from P4.85 to 1*5.40 per sack with palay of that grade from 1’2.25 to 1’2.30. The latest Sai gon quotations for grade No. 2, is 1’7.05 per sack laid down Manilaalldutiespaid, with some stocks of the Saigon imported article still unsold. Strictly speaking there are no Macans on sale in the general market, except in very small quantity. Threshing reports to date in the Luzon Plain show a very fair to good crop according to local ity, but more will be known in next report. A plentiful supply will of course not require any or very little importations for this next year. So far the price of macans has held quite close to the line suggested by the NARIC (Rice and Com Corporation) offerings being from 1’2.25 to 1*2.30 but of course can only be maintained so long as the corporation can buy at the price suggested. So far as is known only about 100,000 cavans of palay have been purchased, the impasse being a lack of local warehouses and of ready cash to make purchases from those who are forced to sell. Very naturally the Corporation will have to face the problems that face ordinary business, with certain privileges. If all the capital primarily set apart for this entity were now avai'able it would go far in stabilizing the minimum price in the principal buying regions concentration of course, being in those districts with large quantities of the cereal for sale. It is understood that the spread of 1’0.25 is for the macan grades, the luxury classes not being very desirable for supplying the masses later in the season. The restricted local amounts proposed to be bought in the smaller producing town will have little or no effect unless these are arranged to buy supplies as offered, in fact, if these are not so purchased it will weaken any effect of what the corporation was established for—the stabilization of supply and price. MANILA HEMP By H. P. STRICKLER Manila Cordage Company During December, the Londqn market atrengthened further as a result of trade demand, and prices advanced steadily on practically all grades. This strength in the London market finally influenced both the American and Japanese markets, where a similar advance in values took place, and the market closed active and stronger on all grades. All local markets responded to the foreign demand, and during most of the time, local values were considerably higher than the pari ties of foreign prices. Continued small pro duction throughout the abaca producing dis tricts lent a special incentive to the higher prices asked by producers and dealers. Prices of Loose Fiber ii November 30th n Manila Per Picul December 31st CD............. 1’25.00 CD....... . .. P28.00 E. 21.50 E 23 00 F. .............. 18.50 F.......... 21.00 I.. ............. 17.00 I.......... 19.00 JI. ............. 15.50 JI........ 16.50 G. ............. 14.50 G......... 16.75 H. ............. 13.50 II......... 15.50 J2. ............. 14.50 J2........ 16.00 K. ............. 13.25 K......... 15.25 LI .............. 12.75 LI........ 14.75 L2 .............. 10.25 L2........ 13.00 Prices of Loose Fiber ih Davao Per Picul November 30lh December 31st F. .............. P18.75 F.......... ... 1*22.50 I.. ............. 18.00 I.......... 21.50 S2. .............. 17.00 S2........ 20.00 JI. ............. 17.50 JI........ 20.50 G. ............. 16.00 G......... 19.00 H. ............. 13.50 H........ 16.00 J2. ............. 15.75 J2........ 19.00 K. .............. 14.50 K......... 16.75 TOBACCO REVIEW By P. A. MEYER Rawl‘:af: The central and upper parts of Isabela province were visit ed by an enormous inundation at the beginning of the month. However, as most of the tobacco of the 1936 crop had already been sold, tobacco losses through wa ter damage affect ed buyers more than farmers. In some districts considerable damage was done to seed beds, thus probably resulting in reduced tobacco acreage for the 1937 cr^p. Comparative ship ments abroad were as follows: Australia and New Zealand..................... Austria and Czechoslo vakia......................... Belgium and Holland. China, Hongkong and Manchoukuo............ France, option other ports......................... Gibraltar....................... Japan, Korea and For mosa ......................... Java and Malaya........ North Africa............... Spain............................. Kawleaf, Stripped Tobacc December o and Scraps Kilos Year 1036 1936 13,768 6,357 1,041.582 128,623 59,816 379,563 1,816,090 14,160 1,816,090 34,966 121,981 2,305 31,067 1,416,811 18,652 383,150 6,286,341 United States............ 129,928 1,009,781 Various......................... 16,363 2,183,129 12,545,690 November 1936........... 156,039 December 1935........... 1,751,051 Year 1935.................... 18,517,176 Year 1934.................. 14,024,614 Cigars: Business with the United States continues lagging due to insufficient shipping opportunity caused by the maritime strike. Comparative figures of shipments to the United States and abroad are as follows: U n ited Other States Countries December, 1936. . 10,503,060 836,010 November, 1936.. 11,151,085 1,697,994 Year 1936. . 164,905,078 14,637,306 Year 1935. . 208,676,183 15,771,427 Year 1934. . 208,268,782 15,352,252 Cheap Money .... {Continued from page 36) anxiety when the building boom slackened off as it probably will shortly in Great Britain. 5. Even more oversea debt could be paid off, but reasons have already been advanced in para. 2 for believing that it is wise to have certain oversea creditors on Public Debt account. 6. New industries might be started, but our market is at present, small and the pace of in dustrialisation can, as previous figures show, hardly be accelerated with safety; moreover, the ultimate effect of a too rapid industrialisation might be to reduce the relative volume of im ports and still further increase oversea balances. 7. There remains one further possibility— a gradual improvement in the economic position of the lower classes, unskilled European, the natives and coloured. There are dangers even here. But a solution partly along these lines seems to offer most possibility of permanency and an improvement in distribution and an ex pansion of the local market is desirable on other grounds. For where an increase in wages in creases efficiency, costs of production should ultimately fall. While therefore I look to a continuance, for some time, of the present favourable position of South Africa, it is obvious that there are dangers. Cheap money looks like continuing for a period—indeed, present banking figures wiSthl, ajmost warrant a further fall in money rateSjCJgrf when the secular rise of prices does take pRtCe, interest rates will also rise, though they may not rise sufficiently in the early stages to offset the rise in prices. It would be idle to prophesy at what price gold will ultimately be stabilised, but we must remember that South Africa is thriving because of the present atmos phere of world distrust, which pushes up the price of our chief product. No country is more vitally concerned than is the Union in a return to stable conditions—some form of the inter national gold standard—and a reduction of all those artificial barriers which impede trade and restrict exchange. At present we are in a highly favoured position but there are signs that the inevitable pressure of events may produce a secular rise in world prices with unfavourable reactions. While appreciating our favoured position, our policy should be directed (even though it may help little) towards a return to a condition of things which realises the ultimate and final interdependence of all countries through out the world. We add that al) that relates to South Africa in this gold question relates equally to the Philippines as a considerable producer of gold, making a study of Dr. Richards’s whole paper from our December issue and concluded here, germane to our leaders in mining.—Ed.