Manila hemp

Title

Manila hemp

Creator

Guettinger, Fred

Language

English

Source

The American Chamber of Commerce Journal Volume XXVII (Issue No. 7) July 1951

Year

1951

Rights

In Copyright - Educational Use Permitted

Fulltext

July, 1951 AMERICAN CHAMBER OF COMMERCE JOURNAL 233 Desiccated Coconut By Howard H. Curran Assistant General Manager Peter Paul Philippine. Corporation THIS report covers the period from May 15 to June 15. During this period all the desiccated coconut factories continued on the basis of reduced production or not at all. Sales' in the United States are very low even with the drop in the sales price of two cents per pound. Relief has been granted desiccated coconut producers with respect to the ceiling price placed on desiccated coco nut some time ago in the United States. Under the new regulation, No. 31, dated May 4, 1951, the ceiling price is fixed at the landed cost of the commodity plus a mark-up based on the sale of the commodity during the base period from July 1, 1949, to June 30, 1950. The old regulation fixed the price at the highest price at which the product was delivered during the base period from December 19, 1950, to January 25, 1951. With the new regulation permitting the landed cost to fluctuate and the control being imposed on importers mark-up, desiccators can compete for raw material. SHIPPING STATISTICS FOR MAY Shippers Pounds Franklin Baker Co....................................................... 2,572,100 Blue Bar Coconut Co................................................... 818,810 Peter Paul Philippine Corp........................................ 2,950,000 Red-V Coconut Products............................................ 1,808,600 Sun-Ripe Coconut Products..................................... — Standard Coconut Products..................................... 193,100 Cooperative Coconut Inc........................................... 244,700 Tabacalera...................................................................... — Coconut Products, Inc................................................ 241,875 Total......................................................................... 8,829,185 Manila Hemp By Fred Guettinger Vice-President and General Manager Macleod and Company of Philippines THIS review covers the period from May 16 to June 15, during which time the weakness of the previous month continued. In New York prices registered further declines in a quiet market of from 1-1/4 to 2 cents per lb. Business to Europe was very slow, largely due to scarcity of dollars. A recent London report indicated that the decline in the grades from G down has now gone far enough to make them better value than sisal, the price difference being attributed to the fact that dollars are still less freely available than sterling and escudos. Sales to Japan were scattered. Philippine provincial prices declined from P5 to ?6 per picul. May pressings were 89,116 bales, the lowest this year. As compared with the corresponding month last year, balings increased 25,073 bales but were down 12,561 bales from the previous month. The decrease is in the non Davao grades and is seasonal. Production in Camarines, Albay, and Sorsogon is down 10,308 bales; Leyte and Samar, 4,474 bales; and all other non-Davao areas, 1,950 bales. Davao May pressings at 46,434 bales were the highest yet since the war; up 4,171 bales from the previous month and up 13,278 bales from May, 1950. Total pressings for the first 5 months were 477,025 bales, against 297,992 bales last year, an increase of 60%. The following are the comparative figures for balings for the first 5 months of 1947 through 1951: BALINGS — JANUARY-MAY INCL USIVE 1951 1950 1949 1943 1947 Davao........................ 211,143 135,474 91,421 99,079 153,547 ENGINEERING EQUIPMENT r> & SUPPLY COMPANY, Inc. MACHINERY • MECHANICAL SUPPLIES • ENGINEERS • CONTRACTORS AIR CONDITIONING For Offices, Theatres, Hospitals, Stores, Restaurants, Hotels, Clubs and Homes ★ ★ ★ Suppliers of MACHINERY, EQUIPMENT and INDUSTRIAL SUPPLIES For Sugar Centrals, Mines, Sawmills, Power Plants, Machine Shops and All Industrial Plants ★ ★ ★ ENGINEERING — DESIGN — APPLICATION — ESTIMATES INSTALLATION — MAINTENANCE — SERVICE — REPAIRS ★ ★ ★ Operating: General & Sales Office 174 M. de Comillas Manila Tel. 3-29-21 MACHINE SHOPS • STEEL PLATE SHOPS STRUCTURAL STEEL SHOPS • WELDING SHOPS • BLACKSMITH SHOPS • SHEET METAL SHOPS • MARINE RAILWAY Engineering Shops No. 1 Calle L. Segura & Pasig River Mandaluyong, Rizal Tel. 6-65-68 234 AMERICAN CHAMBER OF COMMERCE JOURNAL July, 1951 Albay, Camarines, and Sorsogon.. . . 132,798 78,932 55,528 99,302 98,541 Leyte and Samar... 84,781 50,907 51,669 57,204 32,048 All Other Non Davao.................... 48,303 32,679 37,176 57,054 22,771 Total Bales............. 477,025 297,992 235,794 312,639 306,907 VENETIAN BLINDS Custom built to fit your own requirements. In color and size— perfectly installed for a lifetime of service. Exports during May were 91,438 bales, slightly ex ceeding pressings. Approximately 48% of these shipments went to the United States. The following are the comparative figures for exports for the 5 five months of 1947 through 1951: EXPORTS.— JANUARY-MAY INCLUSIVE T/e'ndZ- Shude. WOODEN ROLLING SCREENS for your porches—any color desired. 1951 1950 1949 1948 1947 United States and Canada.................. 283,060 126,257 81,584 157,121 220,453 Continental Europe.................. 81,618 45,312 48,532 46,493 56,530 United Kingdom.. . 81,334 33,144 13,635 44,780 13,645 Japan......................... 61,619 42,989 67,256 68,636 — South Africa........... 6,990 1,325 2,516 1,460 2,000 China......................... 2,145 7,580 5,861 4,318 1,006 India.......................... 3,342 3,450 1,151 — 1,800 Korea......................... 3,100 — — Australia and New Zealand................. 1,050 625 350 42 — All Other Countries — — 80 2,853 560 Total Bales............. 521,158 263,782 220,965 325,703 295,994 Estimates cheerfully given CADWALLADER PACIFIC COMPANY Aboard America's Post-War Liners S.S. PRESIDENT WILSON • S.S. PRESIDENT CLEVELAND AMERICAN PRESIDENT LINES MARY BACHBACH BLDG., 25th Street, Fort Area Tel. 3-32-81 Sugar By S. Jamieson Secre tary-Treasurer Philippine Sugar Association THIS review covers the period from June 1 to June 30, inclusive. New York Market. Up to the time news was received on June 25 of probable “cease fire” negotiations in the Korean situation, the New York market during the month was firm and the trend was toward higher prices. Dominating the market was Cuba’s strong statistical position as sales to countries other than the United States, at higher prices than those prevailing for United States quota sugar, steadily reduced Cuba’s available stocks. Cuban holders in general sat on the sidelines, evidently believing that sooner or later United States refiners would have to look to them for needed supplies. The increase in the United States consumption quota from 8,000,000 short tons to 8,250,000 short tons, announced on June 8, brought no change in the situation. However, immediately the news about Korea became known, the market regis tered a sharp decline in both spot and future positions and closed at the end of the month in an atmosphere of unsettlement and uncertainty, and both sellers and buyers withdrew to await developments. On June 1 the market opened steady. 25,000 tons of Philippines were on offer for July/August arrival at 6.60/, but there were no offerings of Cubas and Porto Ricos. Spot was 6.55/ On June 4 refiners bought 11,000 tons Philippines for July arrival at 6.60/ and a large quantity of Philippines and Porto Ricos for June/July/August shipment was on offer at 6.60/. Next day, in a quiet market, a further 6,500 tons Philippines for June/July/August arrival were sold at 6.50/. The announcement of the United States consumption-quota increase failed to shake holders. In fact, the market became firmer, and on June 12 refiners bought all the sugar on offer—some 45,000 tons—at 6.60/ On June 15, 2,000 tons of Philippines for July/August shipment were sold at 6.65/. Spot was quoted at the same price. On June 18 refiners announced an increase from 8.50 i to 8.75/ in the price of refined, and the following day entered the market and bought 4,500 tons raws at

pages

233-234

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