Copra and its products

Title

Creator

Zercher, R. K.

Language

English

Source

The American Chamber of Commerce Journal Volume 6 (Issue No.6) June 1926

Year

1926

Rights

In Copyright - Educational Use Permitted

Fulltext

June, 1926 THE AMERICAN CHAMBER OF COMMERCE JOURNAL 21 rate. There was a fair amount of hemp moving via this route but the advance makes it more expensive than bringing the hemp to Cebu or Manila on Interisland boats. If it was the intention of the steam ship lines to eliminate transhipment at Sin gapore, they have been entirely successfull. STATISTICS. We give below the figures for the neriod extending from May 3rd to May 31st, 1926. 1926. 1925. Stocks or. January 1 . . Receipts to May 31 . . Stocks on May 31 . . . 153,181 559,130 205,633 131,228 525,969 178,230 To the United Kingdom. . Continent of Europe. . Atlantic U.S. . . . U.S. via Pa cific . . . Japan. . . Elsewhere & Local. . . TOTAL . . SHIPMENTS. To May 31, 1926. 121,665 Bales 66,773 1-16,793 51,682 86,226 33,539 To June 1, 1925. 134.606 Bales 51,858 ” 134,868 ” 57,776 ” 46.681 ” 33.118 ” 1 506,678 Bales 478,907 Bales COPRA AND ITS PRODUCTS By R. K. Zerjhkr Copra Milling Corporation Complete returns for April show ar rivals at Manila as 180,500 bags or 38% more than the April average for the past three years. May arrivals as reported up to the date of this article were 244,800 bags or 36% more than the May average for the past three years. May prices at the opening of the month were 1’12.50 for buen corriente and 1’13.75 for resecada copra. There was not much of a variance in these prices until May 10 when buen corriente was quoted at P12.25 and resecada at Pl3.50, with but little copra being offered. Sellers were holding out for higher prices to realize on stocks which they had on hand. By the 15th buyers came into the market and prices were advanced to 1’14 resecada for large lots. Up to the end of the month there was a steady in crease in price and the month closed with buen corriente quoted from PI 2.87 to P13.25 and resecada from P14.25 to P14.375. One quite large parcel was sold at P14.50 and a few smaller parcels have been sold at near this figure. There is quite a demand for buen cor riente in certain quarters, for milling pur poses. Exporters are buying heavily in the Tayabas district, as a result of which prices are almost a peso per picul above Manila river copra prices. Large shipments have arrived from the southern islands which accounts for the excess over normal ar rivals. The London market has steadily advanced from L-28/0/0 to L-28/12/6 f. m. m., with the exception of a period during the early part of the month when it dropped to L-27/15/0 f. m. m. due to strike disturban ces in England. Copra prices appear to have reached a maximum and with the approaching period of heavy production a decline may reasonably be expected. Closing quotations were: — London-f.m.m. —L-28/12'6 San Francisco ■—5-5/8 cents Manila-resecada—1’14.25 to 1’14.375 COCONUT OIL The animation in the coconut oil market which opened up during the latter part of April continued at advancing prices thru May until the closing days when it settled down to a firm market with but few trans actions. May opening prices were 8-7/8 to 9 cents f.o.b. tank cars west coast, and 9-1/4 cents New York. Seller? began forcing the market, offering oil in anticipa tion of cheaper Straits Settlement copra as a result of the strike conditions in England. Buyers held eff expecting 8-1/2 cent oil, but the strike situation having cleared up the price advanced to the former level. Competing fats and oils began to show strength at this time and the coconut oil market responded quickly, spot May sales being made at 9-3/8 with 9-1/4 for June and 9 cents forward. Sellers withdrew from the market after some large sales had been made, most of which were specu lative. Buyers advanced their ideas and sales were made at 9-1/2 -cents June and July tank cars. The market remained strong and prices advanced to 9-5/8 for June tank cars, with corresponding at tractive forward prices. At this time se veral of the larger consumers of coconut oil made purchases which temporarily filled up the source of demand and the markef reverted to 9-1/2 cents tank cars, firm but with no business done. The approaching season of heavy produc tion of copra and a weakening of competing oil and fats has apparently had a depresHsing effect, .and further strength will probably not develop. Closing quotations are: — London —No quotation San Francisco—9-1/2 to 9-5/8 cents tank cars, spot. Manila —P.12 per kilo COPRA CAKE The closing quotation of L-7/15/0 for April dropped to L-7/10/0, L-7/5/0 and L-7/2/5 by the middle of the month. The Hamburg warehouses were reported full of cake, awaiting higher prices. Locally, sellers were holding out for P50 ex warehouse but buyers were not in terested at that price. NEW CITY LICENSE TAXES The following schedule of license taxes has been approved by the municipal board and is up to the mayor for action: Class A livery garage with 50 automobiles ................................. P720.03 Class B livery garage with not more than 50 motor vehicles. . . . P360.00 Class C livery garage with more than 20 motor vehicles but not more than 30............................. P300.00 Class D livery garage, from 10 to 20 motor vehicles....................... P180.00 Class E livery garage with less than 10 motor vehicles............. P120.00 Garages that are used for deposit ing motor vehicles..................... i' 60.00 Livery stables will pay about P17 a year besides the two pesos for every horse used for sendee. For every month of use of the merry-goround, tax of P20 will be paid the city treasurer. Soft drink factories will be required to pay the city treasurer a t-x varying from POO to 300. Junkshops will pay the city a license fee of P75 a year. Repair factories will pay from P100 to P100 depending on the machinery used. Lumber yards shall be taxed from P200 to P600. Before a license to keep a lumber yard can be obtained, the approval of the fire police departments must first be sought. The following factories are taxed as follows: Match factory ....................... P250 Candle factory....................... P200 Soap factory........................... Pl00 to P350 Repair factory ....................... P 25, Automobile repair shop........ P400 Oil factories from ................. P 50 to P600 Foundry shops from ........... P200 to P800 Carpentry shops from .......... P 25 to Pl 50 Box factories ......................... P200 Shoe factories from............... P 50 to P400 Tile factories from ............... P 20 to P390 Hat factories from ............... P 20 to P209 Umbrella factories from.... P 50 to P100 Blacksmith shops from......... P 25 to P500 Repair shops from ............... P 20 to P100 Ice Cream factories ............. P500 Jce factory ............................. P 59 Watch repairs ....................... P100 Luzon Stevedoring Co., Inc. Lightering, Marine Contractors, Towboats, Launches, Waterboats, Shipbuilders and Provisions. SIMMIE C& GRILK Phone 302 Port Area IN RESPONDING TO ADVERTISEMENTS PLEASE MENTION THE AMERICAN CHAMBER OF COMMERCE JOURNAL

pages

21

Media