Manila hemp

Title

Manila hemp

Creator

Gurttinger, Fred

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

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 November, 1951 AMERICAN CHAMBER OF COMMERCE JOURNAL 385 The following are the comparative figures for exports for the first 9 months of 1947 through 1951: United States and Expor ts—J a nuary-September Inclusive 1951 1950 1949 1948 1947 Canada.................. 465,861 279,263 146,921 213,093 412,770 Continental Eu rope........................ 125,327 93,017 72,191 81,786 90,291 United Kingdom.. . 139,965 62,391 28,704 53,145 48,870 Japan......................... • 101,299 55,930 84,869 114,901 2,542 South Africa............ 13,465 4,600 3,499 2,757 4,700 China......................... 4,739 10,948 10,129 8,796 2,906 India.......................... 4,932 4,080 3,100 1,193 4,850 Korea........................ — 3,100 — — — Australia and New Zealand................. 1,900 1,731 1,187 42 2,630 All other countries. — 75 80 2,853 1,900 Total bales.............. 857,488 515,135 350,680 478,566 571,459 Sugar By S. Jamieson Secretary-Treasurer Philippine Sugar Association THIS review covers the period from October 1 to Octo ber 31, inclusive. New York Market. The market for October was dull and seemed to find strength only in the hope that Washington would take some action to improve prices for producers. Effective October 1, refiners reduced their prices 25 points, but this did not stimulate buying, even though dealers’ inventories had fallen to a low level. The trade evidently believed that the supply situation was such as to justify their pursuing a hand-to-mouth policy in their refined purchases. After the close of business on October 16, the U. S. Department of Agriculture announced a reduction of 350,000 short tons in the domestic consump tion quota, making it 7,900,000 short tons raw value; but the result was disappointing. The announcement failed to boost prices; on the contrary, they fell still lower. On October 30 it was rumored that the Department was con sidering further action in the hope of securing better prices. In that expectation the market developed a firmer tone at the month’s close. The market opened dull, with spot quoted at 5.85/. On the 2nd, it was steadier, and 3,500 tons prompt Cubas were sold at 5.93/. On the 3rd, spot advanced to 5.90/ and Cubas were offered for November shipment at from 5.95/ to 6/. On the 5th, there were sales of 10,000 tons Cubas for October/November shipment and 1,000 tons Philippines for prompt shipment at 5.95/. Spot was also 5.95/. On the 17th, the day after the quota reduction an nouncement, the market was better; 4,200 tons Cubas for October/November shipment were sold at 6/ and spot rose accordingly. The improvement did not last, however, and prices declined steadily during the next two weeks as shown by the following sales: On the 18th, 1,000 tons Philippines, due end October, and 3,700 tons Cubas, load ing middle November, at 5.95/; on the 19th, 19,700 tons prompt Cubas and Porto Ricos at 5.93/; on the 23rd, 3,000 tons prompt Cubas at 5.91/; on the 25th and 26th, 52,000 bags prompt Porto Ricos at 5.90/; on the 29th, 4,000 tons Cubas and Porto Ricos for November shipment at 5.90/. On the 30th, in expectation of further action by the De partment of Agriculture in order to secure better prices, the market was firmer. 3,300 tons Cubas were sold at 5.92/, followed by 4,500 tons at 5.95/. On the 31st, 735 tons Philippines for December arrival were sold at 5.95/, and INSULAR LUMBER COMPANY FABRICA, OCC. NEGROS -------------*-------------SPECIALISTS IN KILN DRIED LUMBER and MANUFACTURERS OF BOXES OF ALL DESCRIPTIONS MANILA DISTRIBUTORS: Norton & Harrison Company 814 Echague Manila D. C. Chuan & Sons, Inc. 14-30 Soler St. Manila Insular Saw Mill, Inc. 340 Canonigo, Paco Manila MANILA OFFICE-. 401 FILIPINAS BUILDING

pages

384-385

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