ENG-1962 — Page 149

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PRIMARY PRODUCTION

for the organization. The establishment of a further two wholesale fish markets, one in the urban area of Kowloon and one in the New Territories, is under active consideration. The reprovisioning at a new site of the existing market in Kowloon is also planned. It will be financed jointly by a grant from Colonial Development and Welfare Funds and from the resources of the organization.

At the wholesale market, fish is sorted into species and sizes by the staff of the organization, weighed into lots and sold by public auction to licensed retailers. Fishermen may collect the proceeds from their sales directly after the sale has taken place or, if asked to do so, the organization will send the money back to the post which serves their areas. A further service is the trans- portation of fish to buyers' establishments in the urban areas.

Fresh fish sales through the Marketing Organization increased by 11 per cent during the year, while sales of salt and dried fish decreased by 18 per cent. The average annual wholesale prices for fresh and salt or dried fish decreased by 12 per cent and 19 per cent respectively compared with prices in 1961. The embargo on the importation of salt and dried fish from the Colony imposed by the Chinese People's Government in 1950, remained in force throughout the year. Salt fish exporters seeking other outlets have met with little success in the face of increasing competition from other countries in the region. During the year 1,840 piculs of salt and dried fish were exported, mainly to the USA, Canada, Thailand and Singapore.

The provision of cheap credit is one of the most important services offered by the Fish Marketing Organization to local fisher- men. The organization's revolving loan fund, established in 1946, has made 6,164 loans totalling $13,680,967. Of this, some $11,155,273 had been repaid at the end of the year. The fund's ceiling was increased to $3,300,000 during the year in order to meet increased demands. In 1957 the Co-operative for American Relief Everywhere (CARE) donated $31,000 to form a revolving loan fund for shrimp fishermen. This fund was increased to $92,453 by a further donation from CARE during the year. This fund is administered by the organization and loans totalling $133,040 have been made; repayments to this fund total $110,209. The organiza- tion also carries out investigations and acts as collecting agent for