The rice industry

Title

The rice industry

Creator

Hill, Percy A.

Language

English

Source

The American Chamber of Commerce Journal Volume XIV (Issue No.4) April 1934

Year

1934

Rights

In Copyright - Educational Use Permitted

Fulltext

24 THE AMERICAN CHAMBER OF COMMERCE JOURNAL April, 1934 Forbes, Munn & Co., Ltd. Insurance Agents Telephone (Ins. Dept.) 4-97-44 113 M. de Binondo Manila Time To Plan For Your Vacation For HEALTH For PLEASURE For RELAXATION BAGUIO is the ideal place When going to BAGUIO, make it a point to travel by the MANILA RAILROAD. It will pay you to investigate what the Company has to offer in the way of comfort, safety and service. Always buy a round trip ticket. It saves you trouble and money. FIRST CLASS FARE now reduced During your stay in Baguio, remember our TAXI SERVICE For trips in the City and to the Mines Our fleet of BANTAM TAXICABS offers the most econ omical and convenient means of transportation within the City and to the Mining districts. Look for SMALL TAXICABS when in need of motor trans portation to the Mines or for City travels. These SMALL TAXICABS have been tested and proven to make the heaviest grades on roads to Mines with the efficiency of big cars. early shipment. A few sales were made and on the 15th nominal prices were: E, 5-7/8 cents; F, 5-1/4 cents: I, 4 cents; Jl, 3-5/8 cents; G, 3-1/2 cents. Sales were made of Davao F at 5 cents and Davao Jl at 3-3/4 cents. The low price on the F would indicate an accu mulation of stock. The last fortnight was slightly better so far as business was concerned and quite a little hemp was sold but prices did not improve and the market closed with nominal prices as follows: E, 5-3/4 cents; F, 5-1 /8 cents; I, 4 cents; Jl, 3-1/2 cents; G, 3-1/2 cents. Se veral heavy sales of Davao hemp were reported as having been made to one of the Western Prisons. The total was probably in excess of 5,000 bales, the grades being principally Jl and J2, and 1,600 bales of Davao 1 and J1, were sold to the U. S. Navy for delivery to the Charleston Navy Yard. Japanese Market: Japanese buyers con tinued to pick up small quantities of distressed fiber and refused to pay prices that would enable the sellers to come out even. It is quite evident they still have considerable hemp in store in Japan and are therefore able to get along with what distressed fiber they can buy. There seems to be little hope of much improvement in our market until Japanese buyers are again active at competitive prices. Maguey: This fiber continues to be neg lected and so long as the lower grades of Abaca are so cheap, production will remain small. Freight Rates: There was no change in freight rates during the past month. General: There was nothing gained but on the other hand very little lost during the month. Receipts were full but all hemp found a market and net stocks in the hands of the exporters at the close of the month were 132,479 bales which certainly is not excessive. Province stocks are probably much heavier than they were a year ago but on the other hand manufac turers in the U. S., U. K. and on the Continent probably have less stocks than they did a year ago. There does not seem to be any prospect of an increased consumption sufficient to mate rially advance prices. Neither do we see how prices can decline to any extent. Statistics: The figures below are for the period ending April 2, 1934. SIGHTSEEING AND EXCURSIONS Enjoy to the full your vacation by making a trip to Bontoc and from there to Banaue and Kiangan through the Ifugao country of striking contrasts. Don’t fail to see the famous rice terraces which are classed among the wonders of the world. Besides there are lots of wonderful things to see on the way. Don’t hurry, if time is not an essential element in your trip. Stop at beautiful Mt. Data Lodge, Km. 105, for a good rest and excellent meals. New, safe and comfortable cars with experienced drivers for moun tain tours arp always available at reasonable rates. For information concerning travel and service, please apply to BENGUET AUTO LINE, either at Central Office near Government Center, or at Baguio Station across the street from PINES HOTEL, Telephones Nos. 250 and 901. Manila Railroad Company 943 Azcarraga, Manila Telephone 4-98-61 Manila Hemp 1934 1933 Bales Bales On January 1st.......... 155,357 167,007 Receipts to date......... 332,321 260,903 Shipments to— U. K......................... 95,954 60,405 Continent................. 51,635 47,749 U. S.......................... 102,495 48,089 Japan........................ 85,780 103,563 Australia................... 6,586 3,649 Elsewhere................. 6,249 7,264 Local Consumption. 6,500 6,500 355,199 277,219 THE RICE INDUSTRY By Percy A. Hill of Mufioz, Nueva Ecija Director, Rice Producer's Association Palay, cavans of 44 kilos, is bringing from P2 to P2.10 a cavan in the primary markets for luxury grades, Pl.80 to Pl.85 for ordinary grades of macans which supply the greater por tion of the shipments. Rice, sacks of 57 kilos, brings from P4.90 to P5.10 a sack for elonelons, P4.65 to P4.85 for inapostol, P4.25 to P4.45 for macans. It should always be understood that macans make up the bulk of the supply; other grades are luxury rices for a limited market, and the names are generally misnomers. The high peak of daily rail and water shipments IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL April, 1934 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 25 into Manila rose to 14,000 sacks under the rise of prices last month, but shipments are now running about 5,000 sacks a day. Provincial and terminal warehouses are much better supplied than they were last year at this time, due to the failure to force high prices by with holding supply. However, there would seem to be no need of importing; demand is slightly off and supply apparently ample. There is a large supply still held in local warehouses for later requirements. The proposed tax on copra and oil (the U.S. proposed excise tax) and the limitation of sugar exports duty free to the United States will have the effect of turning coconut and sugar regions to subsistence crops and will therefore affect the rice industry seriously. Rice exports are, of course, negligible in spite of inquiries. They will ever be thus while we remain a tariff protected country. Lack of any program or plan for the future will be felt daily, in the rice industry. What makes matters worse is the total inability of most people to realize that year after year there must be a stepping down to lower scales of living—something inevitable and inexorable. This is due to long neglect of economic factors, which bids fair to continue indefinitely, changes coming only from the exigencies of the producers themselves. They no longer trouble even to read plans of how to lift themselves by their bootstraps; all the paper data to data have not solved a single one of their problems. INSURANCE For Every Need and Purpose FIRE WORKMEN’S COMPENSATION AUTOMOBILE MARINE ACCIDENT BAGGAGE PLATE GLASS Atlas Assurance Co., Ltd. The Employers’ Liability Continental Insurance Co. Assurance Corporation Ltd. Orient Insurance Company General Agent E. E. ELSER Telephone 2-24-28 • • Kneedler Building MARCH SUGAR REVIEW By Geo. H. Fairchild New York Market: At the opening of the month under review the market developed a slightly firmer tone and small sales of Puerto Ricos were effected at 3.34 cents on the 1st, against prices of 3.27 cents-3.30 cents which prevailed during the last few days of the previous month. This advance, however, was not maintained on ac count of the selling pressure of Puerto Rico sugar, resulting in marked decline in values during the second week, from 3.30 cents to 3.20 cents. Quotations on the Exchange declined 4 to 5 points on the 6th, as the result of the tense situation in Cuba and the anticipated delay in the enactment of the sugar control bill, but at the close of the week all losses were not only recovered but gains were recorded in more distant deliveries. The third week saw further recessions in actual sugar values, selling pressure on the part of holders of Puerto Rico sugar having been maintained, with the result that after small sales of Puerto Ricos were made on the 12th at 3.20 cents, prices gradually sagged to the close of the week when there were sellers but no buyers at 3.08 cents for duty-free sugars, while prices of Cuban sugar declined from 1.50 cents to 1.42 cents c. and f. Quotations on the Exchange remained practically unchanged during the week. In face of large offerings of raw sugar and the poor demand for refined sugar, refiners showed little interest during the fourth week, resulting in prices for duty-free sugars declining to 2.95 cents, while Cuban sugar sellers offered on the 22nd without finding buyers at 1.33 cents, although at the close of the week, after indications were made by holders that they were going to resist further declines, small sales of Cubas were made to refiners at 1.42 cents. This improvement was also reflected in “futures” quotations on the 23rd when after losing 7 to 9 points, these again approached the levels at the opening of the week. The last week of the month saw no new feature in the market, both the prices for actual sugar and quotations for future deliveries remaining practically stationary. The market closed on the 29th with a slightly THE YOKOHAMA SPECIE BANK — r— = LTD.-------------- — --------(ESTABLISHED 1880) HEAD OFFICE: YOKOHAMA, JAPAN Yen Capital (Paid Up) - - - - 100,000,000.00 Reserve Fund - 121,250,000.00 Undivided Profits - - - - 6,869,038.82 MANILA BRANCH 34 PLAZA CERVANTES, MANILA S. DAZAI Manager Telephone 23759—Manager Telephone 23755—Account 4 Cashier Telephone 23758—Export 4 Import Dept. Telephone 23768—Deposit 4 Remittance Dept. R U B B E R Superior Qualify Dependable Service RING CP 2-18-01 the next time you need a Rubber Stamp and our Salesman will do the rest 71/f'e£2LL7_Z_OLZZZ / ■/> P R I N TING COMPANY Lf-L O JL/ 2-/ VX Sales Office: 2nd Floor IOI Escolfa T A M P S IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL

pages

24-25

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