Manila hemp

Title

Manila hemp

Creator

Robertson, H.

Language

English

Source

The American Chamber of Commerce Journal Volume XXIV (Issue No.5) May 1948

Year

1948

Rights

In Copyright - Educational Use Permitted

Fulltext

May, 1948 AMERICAN CHAMBER OF COMMERCE JOURNAL 173 Desiccated Coconut By Howard R. Hick ' President and General Manager Peter Paul Philippine Corporation THIS report covers the period from March 1 to April 15. Raw-material procurement was difficult during the first half of March and most factories worked at less than full capacity. The total poundage shipped during March was 7,803,840 lbs., or about 2,000,000 lbs. under present milling capacity. Nut prices remained much above copra equivalents during early March but during the later part of the month, raw-nut prices remained constant while copra advanced to P56 per 100 kilos, resecada, thus bringing nut prices more in line with copra figures. The first two weeks of April, copra continued to rise, reaching P61, while nuts remained the same. This was a healthier condition and increased nut supplies aided ap preciably in stabilizing this copra—nut parity. Expansion plans throughout the industry are quite apparent and the newest producer to enter the field is Tabacalera, with a shipping figure of 120,000 lbs. for March. The Canlubang Sugar Estate resumed operations for a onemonth period after a two-month shutdown, packing its desiccated coconut for the Peter Paul Philippine Corpora tion. Increased nut supplies, offset by copra price-increases, have kept the nut price firm as of the end of this period. The following are the shipping statistics for the month of March: Blue Bar Coconut .Products Co.................... Cooperative Coconut Products...................... Franklin Baker Co.............................................. Isabelo S. Hilario................................................ *Peter Paul Philippine Corp............................ Philippine Desiccated Co................................. Red V Coconut Products Co......................... Standard Coconut Corporation..................... Sun-Ripe Coconut Products........................... Tabacalera.............................................................. 1,475,200 lbs. 323,480 lbs. 2,395,460 lbs. 126,000 lbs. 2,070,000 lbs. . Shipped by Blue Bar 541,700 lbs. 100,000 lbs. 652,000 lbs. 120,000 lbs. LAGOTEX (No. 599—Black) RESISTS TERRIFIC HEAT STRONGEST ACID AND ALKALI SOLUTIONS GALVANIC ACTION WATER FRICTION Total.............................................................. 7,803,840 lbs. *1,300 bdgB of total shipment made by Peter Paul Philippine Corporation is of Canlubang Sugar Estate production. Manila Hemp By H. Robertson International Harvester Company of the Philippines THIS review covers the period of March 15 to April 15. During this time, prices of all qualities of hemp ad vanced both in the Philippines and in consuming mar kets. The determining factor in this advance was the heavy SCAP purchases on March 18 with the probability of fur ther buying by SCAP at a later date—rather than any keen demand from United States consumers. Sales of Davao "I” were made to SCAP at P135 per bale f.o.b., Davao “JI” at P131, Davao “G” at P116.50; non-Davao “I” at P122, non-Davao “JI” at P102, and non-Davao G at P90. The market in Davao and elsewhere in the Philippines ruled firm throughout the period. Dealers showed little desire to operate and held off successfully for higher prices. Davao “JI” basis loose, closed at ?60 per picul, for an advance of ?8 over the period. In non-Davao districts, “JI” closed at P46 per picul loose, with “J2” at P31, show ing advances of P6 and ?5 respectively. Corresponding advances were recorded in other grades. The United States market remained quiet but steady, with buyers showing no marked interest. The decreased RECOMMENDED FOR SMOKESTACKS and all surfaces exposed to heat FACTORY BUILDINGS to protect steel against acids and fumes. STEEL LIGHTERS operating in relatively fresh water where “fouling” is not severe For all particulars apply to BOWEN & CO., INC. 940 Lepanto, Manila Tel. 2-82-55 174 AMERICAN CHAMBER OF COMMERCE JOURNAL May, 1948 Philippine pressings do not seem to have perturbed United States buyers, who have been able to obtain increased quantities of Central American abaca at relatively cheaper prices than those at which Philippine abaca was available. Production for March, measured by the official gov ernment pressings, showed a sharp decline. Davao balings for March were 14,863 bales, and non-Davao, 44,635 bales, making a total for the Islands of 59,498 bales, compared with 71,125 bales for February. This brings the total pro duction for the first quarter of 1948 to 189,959 bales, com pared with 172,321 bales for the same period last year. April production for Davao is likely to be somewhat higher than that of March, but a decline is expected in non-Davao districts which is likely to result in the April pressings being even lower than those of March. Sugar S. Jamieson Acting Secretary-Treasurer, Philippine Sugar As sociation SALES of Philippine export sugar continued to be made in the New York market as opportunity offered at 5.50i for shipment during the months of April to August, inclusive. Toward the close, this price was not obtainable, and a few sales have been made at 5.45^. Send it by Prices for domestic sugar improved dqring the month on the sale of fairly large parcels to local soft-drinks manu facturers, and dealers are now willing to give up to P16.50 per picul, delivered Manila, for the regular grade of centri fugal sugar. Sponsored by the National Federation of Sugarcane Planters, the Sugar Producers’ Marketing Agency has been formed, with branches at present in Cebu, Bacolod, and Iloilo, for the purpose of pooling the sale and distribution of planters’ domestic sugar with a view to stabilizing prices in the local market. Quotations on the New York Sugar Exchange for the period from March 15 to April 12, 1948, under Contracts Nos. 4 and 5, ranged as follows: High Contract No. 4 (World Market) May, 1948................4.53 July ” ................4.50 Sept. ” ............... 4 50 March, 1949................3.90 May ” ................3.90 Low Close Sales 4.10 4 10 15,900 tons 4.15 4.15 5,050 ” 4.12 4.12 10,600 ” 3.60 3.60 1 1,600 ” 3.65 3.65. 800 ” 33,950 tons Total......................................................................... Clipper Cargo offers fast delivery to 6 con tinents. And we route your goods straight through to any place in the U. S.—any place in the world—on one PAA airway bill. Clipper flights are frequent—al ways dependable. Clipper Cargo offers extra low rates on bulk shipments of 100 lbs. or more. And careful handling reduces packing and crating cost. Contract No. 5 May, 1948.................5.09 July ” 5.08 Sept. ” 5.08 Dec. ” ................5 04 March, 1949.................4.78 May ” — 4.91 4 * 91 59,350 tons 4.90 4.90 36,650 ” 4.93 4 93 44,750 ” 4.95 4.95 3,600 ” 4.73 4.73 1,300 ” — 4.54 — 145,650 tons Total......................................................................... Tobacco By the Conde de Churruca Compahia General de Tabacos de Filipinas THE tobacco buying season is about to open in the provinces of Pangasinan, Union,. Ilocos, and Cebu. The total production in each of these 'provinces is more or less as follows: Pangasinan...................................................................... La Union......................................................................... Ilocos................................................................................. Cebu.................................................................................. 20,000 quintals 34,000 5,000 20,000 Between san Francisco and manila, bulk shipments are carried by the new all-cargo Clipper, Pacific Trader . . . supplementing regular Clipper Cargo schedules. Manila Hotel Phones.......... 2-97-96 — 2,-79-01 Downtown Office Phones .. 2-92-61 — 2-92«-05 Airport Phones..................... 5-10-75 — 5-12-65 World Airways c~'lle ffyWem of Clippers Besides the foregoing, the first two provinces produce an extra 7,000 quintals in "Batec” tobacco. This is much appreciated by the people, and is sold in the markets leaf by leaf. The Cagayan Valley crop comes in later, and will not be sold until June or July. It has been very greatly re duced by floods and typhoons, and will run to around 80,000 quintals only. The prices will be around last year’s, but may very well be higher in some localities. It is too early to predict them yet, and the needs of local manufacturers will in fluence their oscillations. Exports are very few, and quite a number of sales to foreign governments have not been closed because of lack of dollars.

pages

173-174

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