Fund which stabilizes copra prices to producers, thus wileviating the uncertainty and insecurity of wo-ld market fluctuations. Copra remains the Terrttory’s larg: est 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- tuate, copra is and, as far as can be 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 important source of income and subsistence to out-island inhabitants. Among otheritems of export, scrap metal valued at $288,465 was ex- ported in 1968, a decrease of $93,083 from last year. The Mariana Islands District, the largest exporter of scrap metal last 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. Export of handicraft increased from $104,836 in 1967 to $148,800 52 in 1968. The handicraft industr linues to expand as demand for ity Micronesian crafts products Increasing numbers of tour: Micronesia insure that the dema handicrafts will remain high for time. The greatest problem is m that demand. Total revenue from fish expo including commercial export. $21,266 in 1968, a decrea $72,244 from 1967. This wa marily due to a large decre Palau’s exports, from $84,0¢ $18,125. This may have been « by the creation by Selmur Produ of temporary, high paying jobs| making of a movie. An incre local sales and poor weather tions may have contributed as w Vegetable export has been icant only in the Mariana | District. During 1968, vegetab port totaled $15,161, a decre: $10,526 from 1967. The tyf which hit Rota in Novembe Saipan, Tinian and Rota in Apri significantly hampered agrict production. Also, local sales of able vegetables have increased the larger number of visitors Marianas, particularly Saipan. Export of meat increased $9,482 in 1967 to $18,615 in due mainly to sales to Guam t Micronesian Development Com new livestock industry on Tinian on the increase was trochus ¢ which, after a low of $4,375 in increased to $15,303 in Trochus, a major export until | replaced it in the button in several years ago, has been fi some new popularity on the je market. Part VI—Economic Advanci