Desiccated coconut

Title

Desiccated coconut

Creator

Hick, Howard R,

Language

English

Source

The American Chamber of Commerce Journal Volume XXVII (Issue No.11) November 1951

Year

1951

Rights

In Copyright - Educational Use Permitted

Fulltext

November, 1951 AMERICAN CHAMBER OF COMMERCE JOURNAL 381 From the Philippine viewpoint, the bright spot of the period was copra cake and meal. Coast demand was brisk and business was done from $71 per short tori c. and f. up to $75, with the likelihood of higher prices to come. Another ECA allocation of dollars to Denmark resulted in trades as high as $90 per long ton c.i.f., but greater volume was deterred by space shortage and a better coast market. z^opra production was heavy and September shipments '“'excellent, recqrding a 1951 peak of over 81,000 tons, nearly 60% to the United States. Oil was down a bit from August and so were cake and meal, but nothing to worry about. The figures reported follow: Coconut Oil United States Atlantic................................. 4,676 long tons Europe................................................................ 1,565 ” ’’ Africa (Durban).............................................. 256 ” ” Total........................................................... 6,497 long tons Copra United States Pacific.................................... 33,349 long tons United States Atlantic................................. ’ 8,662 ” ” United States Gulf........................................ 3,614 ” ” Canada/Pacific Coast................................... 2,000 ” ” European ports................................................ 26,190 ” ” Africa.................................................................. 50 ” ” Central and South American ports .... 7,150 ” ” Total........................................................... 81,015 long tons Copra Meal and Cake Honolulu....................................... 225 long tons Pacific Coast.. . ............................................ 5,846 ” ” United States Atlantic................................. 302 ” ” Europe................................................................ 750 ” ” Total........................................................... 7,123 long tons tt is expected that freight rates on copra and oil to the ■•■United States, in sympathy with increased costs and general advances, may rise by $1.50 the end of January. qo much depends on international conditions these ^days. If tensions increase, as they have been doing, prices harden immediately. If conditions improve over night, the steam goes out of the market. On October 15, as we close, the world appeared in sorry shape. Therefore markets were tight and sellers were confidently expecting better prices. As a clincher, dealers were expecting the beginning of the seasonal production-decline in November and were recalling that for three years now November prices have advanced. They were inclined to play this hunch. But a brightening picture in the worlds’ trouble spots, together with the possiblity of adverse market effects from the new American tax-bill, could change all that— and but quick! Certain it is that consumer demand for oil in the United States is very discouraging and is showing few signs of improvement yet. And while coconut oil is reasonable in Europe, when dollars are available, it still looks high to American buyers, thanks partially to our bete noire, the excise tax. Desiccated Coconut By Howard R. Hick President and General Manager Peter Paul Philippine Corporation THIS report covers the period from September 15 to October 15, during which time most desiccated co conut factories continued on reduced production or were Access to the Markets of the World NATIONAL CITY BANK offers quick access to world markets through 48 overseas its own — more overseas branches than other American banks together. long established correspondent important banks throughout the branches of those of all In addition it has relationships with world. THE NATIONAL CITY7 BANK OF NEW YORK Jirit in World-Wide dSanfeing Branches in the Philippines MANILA Main Branch: Juan Luna Street Port Area Branch: 13th Street PAMPANGA: CLARK FIELD CEBU: CEBU CITY 384 AMERICAN CHAMBER OF COMMERCE JOURNAL November, 1951 shut down. Sales in the United States continued to be slow due to high consumer inventories. The following are the shipping statistics for the month of September: Shippers Pounds Franklin Baker Company......................................... 3,123,200 Blue Bar Coconut Company................................. 1,435,575* Peter Paul Philippines Corp................................. 1,049,600 Red V Coconut Products....................................... 1,843,900** Sun Ripe Coconut Products........................................ 826,000 Standard Coconut Corp................................................ 164,000 Cooperative Coconut Products.................................. 499,800 Tabacalera.................................................................. Coconut Product (Phil.) Inc................................. Total for September........................................ 8,942,075 * Zamboanga Factory production ........................................... 161,000 lbs. Lusacan ” ” .................................................... 1,274,575 ” Total Blue Bar shipment................................................ 1,435,575 lbs. •• Red V Coconut Products, Ltd. sent in its August shipment report together with its September report. The August shipment was 405,700 pounds. Manila Hemp By Fred Guettinger Vice-President and General Manager Macleod and Company of Philippines THIS review covers the period September 16 to October 15. United States consumers displayed very little buying interest and the market throughout the period was a pretty dull affair with prices for Davao grades regis tering declines of slightly under two cents per pound. The rope manufacturers complain of very poor business and most of them have excessive stocks of raw material de spite the fact that they appear to have bought very little in the last two months. The price of rope was reduced five cents a pound mid-October. The London market opened the period without buyers, but when new dollars were made available at the end of September some demand matured and prices tended upward. In view of weakness in African sisal, buyers however operated cautiously, while Philippine sellers were reserved on demand from Japan, with which a moderate business was done at satisfactory prices. In the Philippines, prices of the Davao grades declined about P7 per picul while most Non-Davao grades closed the period only Pl to P2 lower. Pressings in September were 75,565 bales, down 1,143 bales from August, but up 3,163 bales from September, 1950. Davao balings were 40,290 bales, or 53%. Total pressings for the first 9 months amount to 790,608 bales, up 236,267 bales, or 43%, from the same period last year. The following are the comparative figures for balings for the first 9 months of 1947 through 1951: Balings—January-September Inclusive 1951 1950 1949 1948 1947 Davao........................ 379,501 274,897 160,377 156,276 279,657 Albay, Camarines and Sorsogon.. .. 201,935 133,023 89,361 139,997 191,053 Leyte and Samar... 132,809 89,480 80,116 86,789 70,294 All other Non-Da vao.......................... 76,363 56,941 57,979 91,098 65,475 Total bales.............. 790,608 554,341 387,833 474,160 606,479 Exports in September amounted to 78,696 bales, whereof 35,898 bales went to the United States and Ca nada, 26,548 bales to the United Kingdom and the Euro pean continent, 14,191 bales to Japan, and the remaining 2,059 bales to various other countries. LOVSTED PRODUCTS AT YOUR TIGER BRONZE BUSHINGS & CASTINGS MO-LO RING STOCK & CASTINGS ROYAL STEEL CASTINGS LOVSTED BABBITTS, SOLDERS & LADLES ROYAL BLUE IRON CASTINGS MANGANESE CASTINGS DIAMOND ROLLER CHAIN & SPROCKETS DIAMOND FLEXIBLE COUPLINGS NORTH COAST DRY KILNS SERVICE PAL-WELD COMPOUND SUGAR MILL & LUMBER MILL PARTS ROTTLER BORING BARS SHAFER PILLOW BLOCKS TOOTS-E WHISTLES & SIGNAL SYSTEMS TOOLSTEEL GEARS, PINIONS, ETC. RAIL & TRACK MATERIALS CANE CARS & CAR PARTS LOCOMOTIVE PARTS SPRINGS—COIL & LEAF On Any of Your Other Requirements, Please Write Us. C. M. LOVSTED & CO. (Manila) LTD. 101, 13th St., Corner Boston, Port Area, Manila—Telephone 3-32-40 Represented by SMITH, BELL & CO., LTD. in Cebu—Iloilo—Bacolod—Davao—Legaspi

pages

381, 384

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