§ Mr. W. Fletcherasked the President of the Board of Trade what increases there have been in the prices of the raw materials exported from the sterling area to the dollar area since 18th September. 1949.
§ Mr. H. WilsonInformation is not generally available on the actual prices paid for raw materials currently exported from the sterling area to the dollar area. Compared with the price ruling before 18th September, the dollar price of tin has been reduced by 8 cents a lb., representing a rise in the sterling equivalent of tin exported from Malaya of about 33 per cent. Among the other important raw materials concerned, increases in 45W sterling market prices are reported for cocoa, rubber, rough diamonds, wool, jute and sisal. Rubber prices in terms of sterling are up by nearly 20 per cent. and rough diamonds by about 25 per cent. Prices of both jute and sisal are about 10 per cent. higher. Prices of merino wools are, on the average, rather more than 20 per cent. higher and crossbred wool prices have increased by about 25 per cent. The latest dollar price quoted in New York for spot sales of cocoa is the same as that on 16th September; in sterling terms this represents an increase of 44 per cent.