ae Fund whichstabilizes copra prices to producers. thus alleviating the uncertainty and insecurity of world market fluctuations. Copra remains the Territory’s largest export item with 12,880 short tons valued at $2,504,740 exported this year. This represents a 442-ton increase from 1967 anda dollar increase of about $820,000 due to the rising price of copra on the world market. The price per short ton of copra was maintained at $102.50 during the year, enabling the Copra Stabilization Fund to rise from a low of $383,000 to its present $508,566. Regardless of the extent to which the world price of copra may fluc- if ~~ we eat tuate, copra is and, as far as can be dey fog fy i ‘| og f determined, will continue to be a major source of income to a large portion of Trust Territory citizens for some time to come. In line with this reasoning, a program to upgrade the copra production base through coconut grove rehabilitation continues in an effort to safeguard this very im- portant source of income and subsistence to out-island inhabitants. Among other items of export, scrap metal hfe metal i | ‘ i aii fii, | ; | fa Opa pio: ja 4 was ex- ast year, decreased from $232,573 in 1967 to $35,000 in 1968. This is mainly due to the diminishing supply of scrap metal around Saipan and partially to the effects of Typhoon Jean which halted export for the last quarter. Saipan’s decrease was largely made up by Palau, which increased its export of scrap metal by $161,804 to $241,960 in 1968. qd: fii valued at $288,465 ported in 1968, a decrease of $93,083 from last year. The Mariana Islands District, the largest exporter of scrap é net Export of handicraft increased from $104,836 in 1967 to $148,800 52 in 1968. The handicraft industry tinues to expand as demandfor« ity Micronesian crafts products gr: Increasing numbers of tourists Micronesia insure that the demanc handicrafts will remain high for s time. The greatest problem is mee that demand. Total revenue from fish export. imcluding commercial export, $21,266 in 1968, a decrease $72,244 from 1967. This was marily due to a large decrease Palau’s exports, from $84,000 $18,125. This may have been cai by the creation by Selmur Product of temporary, high paying jobs for making of a movie. An increas: local sales and poor weather cc tions may have contributed as well Vegetable export has been si icant only in the Mariana Isl: District. During 1968, vegetable port totaled $15,161, a decrease $10,526 from 1967. The typhc which hit Rota in November Saipan, Tinian and Rota in April! significantly hampered agricult production. Also, local sales of a able vegetables have increased dur the larger number of visitors to Marianas, particularly Saipan. Export of meat increased f $9,482 in 1967 to $18,615 in 1° due mainly to sales to Guam by Micronesian Development Compai new livestock industry on Tinian. ¢ on the increase was trochus ext which, after a low of $4,375 in I¢ increased to $15,303 in 1¢ Trochus, a major export until pla replaced it in the button induseveral years ago, has been finc some new popularity on the jew market. Part VI—Economic Advancem