Ext 8835/47 'Middle East: monthly economic reports' [‎5v] (10/30)

8
17.
£P.
Total deposits of banks and credit co
operative societies at 30th Septem
ber, 1947 (excluding balances held
by banks for credit co-operative
societies amounting to iP.4,468,292)
97,463,170
(A decrease of £P.617,163 from
August 1947.)
Customs revenue during October 1947
1,133,000
Excise revenue during October 1947...
210,000
VI.—Cyprus
1. The weather in general was favour
able though little rain fell, particularly in
the plains; livestock in hill areas had crop
residues to graze, but there had to be con
siderable hand feeding on the plains.
There was a slight improvement in the
supply of agricultural field implements as
many badly needed spares and some new
ploughs, and also Diesel and other internal
combustion engines and some small tools,
were received.
2. Prices of agricultural products in
general were satisfactory for producers. In
fact prices of olives and olive oil, although
production was normal, remained so high
that supplies imported from Greece were
being marketed at a lower price.
3. A thousand tons each of seed wheat
and barley was distributed against pay
ment from Government controlled stores,
but as this did not satisfy demand it was
decided to allow the sale, purchase and
movement of cereals under permit to ensure
that farmers obtained their full seed
requirements. Indications are that the area
to be sown with cereals will be normal.
The autumn area under haricots is esti
mated to be greater than usual and crop
prospects are considered good, while the
acreage under winter crop potatoes is
reported to be higher than last year. Large
quantities of onions of exportable quality
remain unsold and the export demand is
slow, but the demand for carobs has
improved and prices have risen.
4. The condition of the citrus groves is
fairly satisfactory and preparations for
export are in hand and shipment is to be
made to Scandinavia shortly.
It is expected that there may be difficulty
in meeting the increased demand for seed
required for the increased acreage to be
sown with linseed in the coming year.
The production of yellow leaf tobacco is
estimated at 300,000 okes, but demand is
slow and price poor.
The vine production has fallen by about
30 per cent, compared with last year, but
quality is good and the vintage is now com
pleted in all areas.
YU.—Egypt
1. Anti-cholera restrictions of movement
inside the country must have led to con
siderable loss to the farmers, especially
vegetable and date growers. As river trans
port came to a standstill, much cotton
remained up country. A number of ships
in Alexandria harbour left either wit ut
unloading or without taking on cargo. The
fall in receipts by the Egyptian State
Railways since restrictions were put on
are said to be in the region of £E.2 million,
plus the seasonal expectation of traffic
during the Bairam holidays. Certain ships
carrying chemical fertilisers, expected early
in November, have not sailed for their
destination. Should they not arrive, next
season’s wheat crop may be adversely
affected.
2. Average estimates for 1947 for rice,
sesame and groundnuts recently issued by
the Ministry of Agriculture all show
increased areas, as follows :—
Acreage in 1946 Acreage in 1947
Feddans Feddans
Rice (Seiti and Xili) 631,602 773,046
Sesame ... ... 31,762 44,064
Groundnuts ... 23,725 25,351
The Ministry of Agriculture has further
declared that the maize (sefi) crop shows
an increase of 400,000 ardebs and the rice
crop an increase of about 300,000 daribas
over last year. The rice surplus figures
since 1944 are given as follows :—
Daribars
1944 150,000
1945 186,000
1946 220,000
1947 280,000
Negotiations are at present taking place
with International Emergency Food Coun
cil for the exchange of surplus rice for
wheat.
3. A newspaper report states that the
Ministry of Social Affairs has drafted a
Bill for presentation to Parliament at the
beginning of the next session, fixing a
minimum wage for agricultural workers.
4. A new company, called the Egyptian
Stevedoring and Shipping Company,
S.A.E., has been formed with a capital of
£E.20,000. The following are capital
increases in existing companies :—
From
To
Helwan Portland Cement
£E.
£E.
Company, S.A.E. ...
Soc. Misr pour ITndustrie et
le Commerce des Huiles,
600,000
900,000
S.A.E
Industrie Fibres Textiles,
30,000
75,000
S.A.E.
200,000
260,000
Industrie du Froid, S.A.E. ...
25,000
75,000