Manila Hemp

Title

Manila Hemp

Creator

Conrad, J. Deane

Language

English

Source

The American Chamber of Commerce Journal Volume XXX (No. 1) January 1954

Year

1954

Rights

In Copyright - Educational Use Permitted

Fulltext

January, 1954 AMERICAN CHAMBER OF COMMERCE JOURNAL 27 against the 1953-54 crop and a total of 751,522 long tons for the period January 1 to December 31. New York reports show Philippine arrivals for the period January 1 to December 19 of 782,835 long tons as against 727,479 long tons for the same period in 1952. World Market. were as follows: Spot December 1.. 3.15,5 December 30.. 3.25 Opening and closing quotations Jan. Mar. 3.30,5 3.15,5 4.00 3.22 May July 3.19,5 3.20,5 3.25 3.25 Sept. 3.22 * 5 3.25 The improvement in this contract has continued and is now to some extent consolidated by the ratification of the International Sugar Agreement at the meeting this month in London of the International Sugar Council. Chief business after ratification was the election of the following Executive Committee to implement the agree ment: Japan West Germany The Republic of China The Netherlands Cuba Russia, and The Dominican Republic The United States As Japan has accepted membership in this committee, we are left wondering as to the final intention of Indonesia. This committee subsequently voted a 15% reduction of all world quotas above 50,000 tons and 10% of those under in order to adjust allocations to estimated requirements. The Philippines world quota is therefore reduced from 25,000 metric tons to 21,500 metric tons. 1953-54 Milling. Eighteen Centrals are now operating and latest reports received by the Philippine Sugar As sociation indicate that the total production of these 18 mills to December 13 is 241,239 short tons. The average of juice purities to date is 84.40. Manila Visitor. A distinguished visitor to Manila this month was Dr. Henry B. Hass, President of Sugar Research Foundation, Inc., of New York. At a luncheon party given in his honor by the Philippine Sugar Association he addressed representative members of the local sugar industry, describing the technical research work carried out under his direction aimed at increasing the uses and consumption of raw and refined sugars. Manila Hemp By J. Deane Conrad President, Conrad & Co., Inc. THIS covers the period from November 22nd through to the end of the year. Prices in the United States market for machine-stripped medium grades of Davao fiber have gone down approximately 1/2/ a lb. with the exception of grade G. Demand for this particular grade has continued and the price for it has been maintained in the New York market. Prices of higher grades of ma chine-cleaned hemp, namely E and F, have fallen off con siderably. The New York market has been dull and buyers have shown little disposition to operate except for grades in short supply. In London prices have declined in sympathy with the New York market but there has been more activity from this quarter. United Kingdom and Continental buyers have been purchasing fairly steadily, and except for the year-end holidays they have purchased and paid slightly better than New York. The Japanese market has purchased in small quantities for the entire past five weeks. Prices for machine-cleaned medium grades of Davao’hemp have declined approximately $2.50 per bale during the period under review, with the exception of machine-cleaned G which has been in good demand. The Japanese Trade Agreement with the Philip pines expires at the end of January, but we feel that this will be extended for a further three or four months as has heretofore been the case. There has been very little change in prices in the Philippines during the period under review. 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, First in Rubber —makes the tires that are best in the long run. Watch for the friendly Goodrich sign— MORE THAN 200 DEALERS THROUGHOUT THE PHILIPPINES 28 AMERICAN CHAMBER OF COMMERCE JOURNAL January, 1954 Something Happily Blew ... to last for years—gracefully beautiful while at it. They come in soft pastels or deep colors to blend or contrast with room decor, individually tailored to fit your windows . . . match ‘your mood or taste. Drop in at our offices; let us solve your window problems with Life Time custom-built Venetians. fa. Call 5-42-74 or 5-33-90 for FREE estimates. Cadwallader Pacific Company 337 PEREZ ST., PACO MANILA lir.mrh Of/ice at Cebu City (Borromeo St.) The lower production of high grades in Davao and the increased production of medium grades as anticipated in our last report, has not materialized. Producers in Davao continue to strip fiber of the higher grades. We detail below baling figures for the period from January through November. The export figures for Jan uary through October and January through November are as detailed below. December baling figures and Dec ember export figures will be indicated in next month’s report. Balings—January/November, Inclusive 1953 1952 1951 1950 1949 Davao................................... 457,983 465,080 455,354 346,300. 199,258 Albay I Camarines / Sor - sogon................................ 152,128 145,854 218,184 154,009 102,952 Leyte/Samar...................... 100,256 101,687 149,951 101,567 94,475 All others............................... 85,095 71,642 88,273 69,003 66,529 Expor ts—Jan uary/ Oc tober, Inclusive Total.......................... 795,462 784,263 911,762 780,879 463,214 1953 1952 1951 1950 1949 United States and Ca nada .................................. 253,361 317,706 501,375 323,319 164,510 Continent of Europe........ 149,586 136,335 137,119 109,074 79,544 United Kingdom.............. 92,456 81,421 149,826 69,567 31,485 Japan.................................... 205,517 159,267 112,206 58,802 87,993 South Africa...................... 8,950 7,010 14,150 5,550 3,627 China.................................... 1,695 5,035 6,289 11,767 11,809 India............... ...................... 8,600 4,440 5,282 6,730 3,100 Korea................................... 1,580 600 — 3,100 — ,, Australia and New Zealand............................ 2,200 2,015 1,900 1,826 1,601 Others................................... 1,095 70 — 747 80 Total............................ 725,040 713,899 928,147 590,482 383,749 1 Exports—Janua ry/November, Inclusive United States and Ca nada .................................. 770,001 342,524 520,665 358,722 179,805 Continent of Europe.... 162,551 145,274 150,040 113,947 86,217 United Kingdom.............. 97,461 87,302 160,654 75,195 34,485 Japan .................................... 222,665 177,368 120,503 94,326 89,483 South Africa...................... 9,350 7,510 15,577 6,275 3,827 China.................................... 1,695 5,085 6,929 12,787 13,586 India..................................... 8,600 4,880 5,406 7,880 3,325 Korea................................... 1,500 600 — 3,100 — Australia and New Zealand 3,500 2,215 4,300 1,826 1,914 Others................................... 1,545 70 — 947 80 Total............................ 778,948 772,828 984,074 675,005 412,722 Tobacco By Luis A. Pujalte Exporter, Importer and Wholesale Dealer in Leaf Tobacco WEATHER during the month of December was very unfavorable in Isabela and Cagayan. During the middle of the month, the Cagayan River overflowed its banks due to the continued heavy rains, and flooded towns, roads, and fields. The 1954 tobacco crop will be a short one and high prices will again be paid for it, regardless of quality, Farmers in the worst-affected places are rushing to the more fortunate areas which were not so badly affected by Typhoon Cora to purchase any surplus seedlings they may have, but this is a costly procedure and the seedlings available are limited. La Union Province was also badly affected and short crops of the Virginia type and the native tobacco are expected for 1954. Other tobacco regions were not adversely affected and are expected to yield fairly normal crops.

Media