Desiccated coconut

Title

Desiccated coconut

Creator

Hick, Howard R.

Language

English

Source

The American Chamber of Commerce Journal Volume XXX (Issue No. 6) June 1954

Year

1954

Rights

In Copyright - Educational Use Permitted

Fulltext

236 AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1954 Coconut Oil Exports United States.................... 5,036 Other countries............... — 3,860 B.F.Goodrich Tubeless Tire Total............................ January.. February. March. . 1954 Totals.. -5,036.. _3,860_ ^40 111 ii .1 If 9:202 19307 io;i64 awe 19366 174 7 PHILIPPINE AND INDONESIAN COPRA (Zn Metric Tons) ^0^593. 77,111.. 67,246 137,008. 107,839 127,0% Philippine Copra Exports* Indones 1954 ian Copra orts* 1953 1954, 53 1954 1953 1954,53 January... 53,992 41,025 131.6% 15,116 14,230 106.2% February.. 58,879 38,672 152.3 17,644 18,884 93.4 March.... 60,919 50,168 121.4 23,377 19,559 119 5 April......... 55,951 48,745 114.8 — 17,258 May......... 62,844 36,536 172.0 — 5,854 Totals . ^292,585 215,146.136.0% 56,137 75.785 ■ Includes coconi * Unavailable. SEALS PUNCTURES — New “Life Saver” Tube less Tire can be run over spikes without losing an ounce of air. Beneath the thread there is a layer of special gummy rubber which seals against punc turing objects. When the object is removed the sealant is drawn into the hole, sealing the hole as you drive. PROTECTS AGAINST BLOWOUTS — Sudden blowouts in regular tires with inner tubes arc usually caused by the tube being pinched bruise— break in the tire carcass. But a bruise-break in the Tubeless Tire merely causes a slow leak. Plenty of time for a safe stop. It changes Blowouts to safe s-s-s-s-slowouts. .F. Goodrich FIRST IN RUBBER 1 Production and Future Prospects. Production is excellent and continues to improve. Exports of coconut products on a copra basis for January to May, 1954, im proved about 31% over the same period of 1953. Arrivals at Manila and Cebu rose sharply in May and now show every evidence of continuing very good as we enter the heavy producing season. Some of the export shipments scheduled for May had to be re-scheduled for early June, due to late arrival of ships. Therefore June exports will probably be very heavy. Price trends seem largely dependent on European interest, and, as this shows evidence of continuing good, it is difficult to foresee any sizeable price decline in the near future, but there is a possibility that prices will move gradually to lower levels during the next two months in the face of seasonal heavy production due to begin soon. We do not expect to see any sharp fluctuation in price during the next few months. Desiccated Coconut By Howard R. Hick President and General Manager Peter Paul Philippine Corporation THIS report covers the period from April 15 to May 15. During this period copra and nut prices remained quite low, rising and falling slightly. Desiccators were operating at about 50% capacity, which made nut procurement easy, and they were able to buy nuts generally below copra-equivalent prices. Approaching the low consumption months in the United States, where icecream and soft drinks are preferred over baking products and candy, we can expect low pro duction until the middle of July when production will pick up, due to anticipated fall- and winter-buying. How ever, the drop-off is unusually high this year, and as of April 30 the production of desiccated coconut is off 32% as compared with the same period in 1953. Unusually large inventories at the close of 1953 may account for this in addition to a general buying slump. Anticipation of lower prices has been a contributing factor in slackened buying for the first quarter of this year. However, today’s prices are moderately low and should June, 1954 AMERICAN CHAMBER OF COMMERCE JOURNAL 237 not dip much more. If this is true, there should be more buying by June and Juiy. The following figures are the shipping statistics for April, 1954: Shippers Pounds Franklin Baker Company.............................................. 1,001,200 Blue Bar Coconut Company.......................................... 754,560 Peter Paul Philippine Corp............................................ 1,239,000 Red V Coconut Products, Ltd...................................... 1,892,100 Sun Ripe Coconut Products, Inc.................................. 971,500 Cooperative Coconut Products, Inc............................ 116,000 5,974,360 lbs. Sugar By J. H. d’Authreau Philippine Sugar Association THIS report covers the period May 1 to May 31, 1954. New York Market. The market opened heavy under the same depressing influences noted at the end of April, —namely, unsold May arrival Philippines and refiners’ ample stocks. As the month progressed, unsold June arrival Phil ippines also made their appearance to prevent any favor able change. These lots sold all the way down from 6.15/ to 6.00/, duty-paid basis, and at the end of an exceptionally dull and depressed month, hope was at last expressed that the bottom had been reached. In view of refiners’ continu ing heavy stocks, improvement however can only be slow. A contributing factor throughout has also been the unfa vourable weather in the United States. Withdrawals of refined by the trade are slow as it is regarded that the un changed price of refined is hardly likely to increase. Sucrest in fact reduced their quotation 10 points from 8.80/, still generally quoted on the East Coast, to 8.70/. Forward exchange positions which resisted the trend of actuals quite notably for the first half of the month, show further declines, however, at the month’s end. Reported sales of actuals totalled approximately 112,116 long tons, of which 52,000 tons were Philippines. Exchange operations for the period approximated 275,900 short tons. Deliveries of refined for the period April 25 to May 22 were 594,983 short tons, as compared with 570,685 for April and with 575,286 for May, 1953. Total deli veries for the year to May 22 were 2,897,157 short tons, as compared with 3,051,215 short tons on the same date in 1953. On May 22 refiners stocks were 326,741 long tons as against 244,384 on the same date last year. Opening and closing quotations on the No. 6 Contract were as follows: July Sept. Nov. March ’55 May 3................................................... 5.73(5 5.77(5 5.77(5 5.53^ May 28................................................ 5.62 5.71 5.72 5.50 Average spot price for May was 5.596500/. Average spot price January 1 to May 31 was 5.617255/. The election to determine the Longshoremen’s Union representation duly took place on May 26, but a recount is in progress and the result not yet known. Local Market, (a) Domestic Sugar. The market remains basically unchanged from our previous report, with continuing weakness in the main markets of Negros and Manila but with prices maintained in some isolated districts by virtue of the pattern of distribution. The latest available quotation from Bacolod is P 13.60 ex warehouse, although rumors have circulated of an offer at P 14.00 for a large quantity. The suspension of issuance of quedans covering Emergency “B” allotment continues pending termination of the present enquiry into emergency irregu larities by the Special Board under the Chairmanship of Solicitor-General Querube C. Makalintal. Manila quota tions for ex Manila warehouse as announced by the Bureau of Commerce were as follows: PACIFIC MERMDISIK ( 0 11 1' (I RIT 10 N 449 Dasmarinas Manila AMERICAN RADIATOR & STANDARD SANITARY CORPORATION AMERICAN VALVE COMPANY AMES BALDWIN WYOMING COMPANY BADGER METER MANUFACTURING CO. BADGER FIRE EXTINGUISHER CO. BALL BROS. MASON JARS BOMMER SPRING HINGE COMPANY CAPEWELL MANUFACTURING CO. CARBORUNDUM COMPANY COLUMBUS COATED FABRICS CORP. COLUMBIAN VISE & MFG. CO. CORBIN LOCK COMPANY DICK BROTHERS MANUFACTURING CO. EKCO PRODUCTS CO. GREAT NECK SAW CO. JACOBS MANUFACTURING CO. KEENEY MANUFACTURING COMPANY MALLEABLE IRON FITTINGS CO. NORTH WAYNE TOOL COMPANY PABCO PRODUCTS, INC. “Pabco” Products R. E. DIETZ COMPANY RADIUS AKTIEBOLAGET SLOAN VALVE COMPANY SOLARINE COMPANY TEMPLETON KENLY JACK CO. UNION CARBIDE & CARBON CORP. National Carbon Division “Eveready” flashlights & batteries Linde Air Products Division “Union” Carbide “Oxweld” Welding Rods, Supplies and Generators “Prest-o-Weld” Welding and Cutting Apparatus UNITED STATES STEEL EXPORT CORP. ♦ STEEL PRODUCTS HOUSE FURNISHINGS GENERAL HARDWARE PLUMBING

pages

236-237

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