Tobacco
Media
Part of The American Chamber of Commerce Journal
- Title
- Tobacco
- Creator
- Pujalte, Luis A.
- Language
- English
- Source
- The American Chamber of Commerce Journal Volume XXX (Issue No. 6) June 1954
- Year
- 1954
- Rights
-
- Fulltext
- 240 AMERICAN CHAMBER OF COMMERCE JOURNAL June, 1954 COLUMBIAN ROPE COMPANY OF PHILIPPINES, INC. HEMP AND COPRA EXPORTERS STEAMSHIP AGENTS * Singer Building Port Area, Manila, P. I. ¥ BR ANCHESi Davao • Tacloban • Cebu • Tabaco NEW AND... -TO SEE V _TO TOUCH —TO OPERATE Modern in design, the MARCHANT is the only American calculator with dials for checking key board entries. Its low-luster finish eliminates reflections causing eye fatigue. With key action twice as light as before, its keys and controls respond to the slightest touch. The MARCHANT is unmatched in accuracy control, simplicity, speed, and silence. MARCHANT CALCULATOR ERLANGER & GALINGER, INC. 123 T. Pinpin off Escolta Tel. 3-21-61 Exports—January, April, inclusive United States and Ca nada ................................. 61,069 Continent of Europe .... 63,471 United Kingdom.............. 48,231 Japan.................................... 67,460 South Africa..................... 3,345 China.................................... 1,741 India..................................... 1,740 Korea................................... — Australia and New Zea land................................... 2,500 Others.................................. 702 118,588 115,588 239,596 91,967 68,204 63,407 71,046 30,414 42,962 41,602 36,039 60,808 26,052 86,672 48,943 35,841 3,170 4,100 3,420 1,310 745 4,075 2,005 5,315 2,250 1,630 3,202 3,200 — — — 950 1,200 550 700 625 370 160 — — Total 250,259 324,161 ^67,_151 429,720 195,674 Tobacco By Luis A. Pujalte Wholesale Dealer & Exporter of Leaf Tobacco BUYING is not only going on in earnest in Pangasinan and La Union but at dangerously high prices. Farm ers in Pangasinan are being paid as high as P32 per quintal (100 lbs.) and in La Union up to ?40. Some farmers from Pangasinan, whose towns are near La Union, cart or truck their leaves to La Union to take advantage of the higher prices. This procedure is an infringement of Internal Revenue regulations, as the tobaccos from these provinces are not similar but have distinctly different characteristics. With the keen competition and great demand, they are getting away with it. These high prices paid to farmers by provincial deal ers are dangerous as they are way above the world market prices for tobacco and as consequently very little tobacco will be exported. Local consumption is not large enough to absorb the crop and manufacturers will not stock-up for future consumption at these high prices. Farmers were very enthusiastic due to the high prices paid last year and planted plenty of seedlings, but foul weather spoiled the fields and killed the seedlings and, as a consequence, there is a shorter crop this year. This has come two years in succession and the chances are that weather will be favorable this year. If so, with favorable weather and the farmers’ enthusiasm, this will spell an abundant crop, if not the bumper crop to be expected if weather is completely favorable. By early 1955 we may see the market weaken and then just roll down. Rice By Charles O. Houston, Jr. Director, Graduate School, University of Manila THE period reviewed is April 19 to May 15. The rising tendency which was noted in the preceding period continued throughout the first part of the current period, and then toward the end, stabilized at levels only slightly below those of last year. Toward the end of the period, it became apparent that the Administration was determined to resume loans through the ACCFA, and with the signing, by the President, of legislation setting aside P30,000,000 with an initial release of P 10,000,000 for this purpose, the market steadied and became firm, although sellers still were holding large quantities of stocks in anticipation of a general price rise. Some ob servers were disturbed by the announced program of the Philippine National Bank to grant “emergency” loans to sugar planters, as the original plan had been to utilize these funds in financing rice producers; these observers
- pages
- 240