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411
A
(D) from Kwong-Chow-Wɛn, where the system was to import
on Government account half yearly consignments of 250
chests each, which were put up to tender among about 80
approved dealers, the upset price being fixed by the
"Shanghai market price". How this market price was
ascertained by the French Officials is a rather baffling
question, considering that there has been no legitimate market for Opium there for 8 years. The price paid in
Shanghai is known to have fluctuated between $12,000 and
$15,000 per chest. The opium was sold ball by ball and the
purchasers of the balls again retailed the opium out in
amall quantities to suit the buyers. The price made at
the sales in Kwong-Chow-Wan varied from $6,700 up to over
$8,000. Macau has been purchasing Indian opium in Kwong-
Chow-wan, and the present arrangement with the Farmer is
that he pays & certain sum for each chest he imports to the
Macan Government, but that if he succeeds in obtaining
Indian Opium direct from India he is to pay $3,000 more
per chest on the opium so obtained, obviously because this
represents the benefit to him in the reduction of first
cost over opium purchased by the various indirect routes,
i.e. via Persia or Kwong-Chow-wan. It is probable that mos
of the Indian opium imported into Kwong-Chow-ian has been
exported in the raw state to China, especially shanghai,
until recently when the Macau farmer began to buy his Indian
opium there owing to the restrictions imposed by the Indian
Government on direct purchases by Macau. I do not remember ever coming across any Prepared Indian Opium, which was probably prepared in Kwong-Chow-Wan.
13th August, 1925.
(Sd.) J. D. Lloyd,
Superintendent of Imports & Exports.