Manila hemp

Title

Manila hemp

Creator

Robertson, H.

Language

English

Source

The American Chamber of Commerce Journal Volume XXIV (Issue No.7) July 1948

Year

1948

Rights

In Copyright - Educational Use Permitted

Fulltext

260 AMERICAN CHAMBER OF COMMERCE JOURNAL July, 1948 Desiccated Coconut By Howard R. Hick President and General Manager Peter Paul Philippine Corporation THIS report covers the period from May 15 to June 15. During this period, raw-material supplies were much easier to procure than for some time past, and most factories ran at full capacity. Copra prices remained firm, with an up trend at the beginning of the period which continued until June 8, when it weakened. However, despite this slight rise in copra, nut prices went down, approaching parity between copra and the equivalent copra value of raw nuts. There was a sharp, marked improvement in the nut harvest at the opening of June, and indications at the time of writing point to a plentiful supply of nuts for the next few months. Labor unrest in the industry is apparent and its effects cannot be judged at this time. However, amicable settle ments have been made in the past, and this looks possible with pending cases. Red V Coconut Products, Ltd. increased its produc tion at the Dalahican factory at the close of the period and its Misamis construction work is going smoothly. Following are the shipping statistics for the month of May, 1948: Blue Bar Coconut Products Co............................. 1,394,760 lbs. Cooperative Coconut Products............................... 94,600 lbs. Franklin Baker Co. of the Philippines............. 3,227,740 lbs. Isabelo S. Hilario......................................................... 45,000 lbs. Luzon Desiccated Coconut Co............................... 295,000 lbs. *Peter Paul Philiffine Corp...................................... 2,219,100 lbs. Philippine Desiccated Co. J................................... Red V Coconut Products, Ltd............................... Standard Coconut Corporation.............................. Sun-Ripe Coconut Products.................................... Tabacalera...................................................................... Shipped by Blue Bar 866,300 lbs. 194,000 lbs. 744,500 lbs. 505,000 lbs. TOTAL................................................................... 9,586,000 lbs. Manila Hemp By H. Robertson Vice President and Assistant General Manager, Macleod and Company of Philippines Editor, Journal, ■ Dear Sir: As you no doubt read in this morning’s papers, the former fiber and shipping interests of the International Harvester Com pany of Philippines have been assumed by a newly-formed cor poration, to be known as "Macleod and Company of Philip pines". Mr. H. Robertson, in his capacity of vice president and as sistant general manager of the new firm, will continue writing the monthly hemp reports for publication in the Journal. Enclosed is Mr. Robertson’s report for the period May 16 to June 15, 1948. Very truly yours MACLEOD AND COMPANY OF PHILIPPINES (Sgd.) Fred Guettinger Vice President and General Manager THE period under review covers May 16 to June 15. During these thirty days a steady market prevailed both in the Philippines and abroad. Price changes were inappreciable. ATLANTIC GULF .& PACIFIC COMPANY OF MANILA EXECUTIVE & SALES OFFICE 222 REGINA BUILDING TEL. 2-83-64 • ENGINEERING DEPT. & SHOPS PUNTA, SANTA ANA TEL. 8-63-32 • • ENGINEERS • -CONTRACTORS • • DISTRIBUTORS FOR FAIRBANKS MORSE & CO. GARDNER DENVER CO. CHAIN BELT CO. ARMCO INTERNATIONAL CORP. pioneer Engineering works YORK CORPORATION LINCOLN ELECTRIC CO. WALSH REFRACTORIES CORP. MARION POWER SHOVEL CO. July, 1948 AMERICAN CHAMBER OF COMMERCE JOURNAL 261 On June 2, SCAP bought 16,700 bales of Davao ; hemp and 14,100 bales of Non-Davao; also 3,150 bales of Cebu maguey—a total of 33,950 bales. As the pro duction of these fibers for the Islands during May only totaled 62,279 bales, this purchase represented 54% of the production for May. The prices paid for Davao ! were more or less unchanged from the last SCAP pur- I chase on April 28. For non-Davao grades, the prices | recorded were from Fl to P2 per bale higher for U. S. | Grades. U.K. Grades were little changed. SCAP will j be in the market again on June 16. Their buying program thereafter is uncertain. j The United States market has remained steady with j little business doing. Rope business is off from 15 to 20% j and buyers are operating with great caution despite the ■ large percentage of the current production being taken by SCAP. Demand from Europe has been poor due to the high prices asked for Manila hemp and the acute short age of Dollar exchange. j Philippine provincial markets continued steady with | a slight advance recorded for medium Non-Davao Grades. Non-Davao JI closed at F50 per picul basis loose—up Pl, and Non-Davao J2 at P33, unchanged. Davao JI closed ; at P62 per picul basis loose, unchanged, and Davao G at ■ P54—down fifty centavos. Abaca pressings for the month of May were 58,840 ! bales, a decrease of 5,000 bales as compared with April. [ Non-Davao balings were 36,682 bales—down 5,247 bales, I and Davao, 22,158 bales—up 247 bales. The total pres- ! sings for the first five months of 1948 stands at 312,639 J bales, as compared \vith 306,907 bales for the same period j last year. ; KODAK REFLEX The Kodak Reflex Camera, shown here, is a superb picture maker that will give keen en joyment for years to come. Has big ground-glass finder, twin f '3.5 lenses . . . both Lumenized and both highly corrected for color, and Flash shutter with 7 speeds to 1 200. It’s a long trek from barrio to town, still longer from province to led a y—at your dealer's. At Your Kodak Dealers KODAK PHILIPPINES, LTD. 104- 13th St., Port Area, Manila "They Go A Long Way To Make Friends * 3 American Factors tphidInc. Mary Bachrach Bldg., 25th Street, Port Area • Tel. 2-65-72 Phllprom

pages

260-261

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