POTATO PRICES.

Auckland Star, Volume LVII, Issue 133, 7 June 1926, Page 4

POTATO PRICES.

SOUTHERN SPECULATORS. BEAR THE MARKET. (By Telegraph.—Special to " Star.") DUNEDIN, this day. The expected slump in the potato market has not taken place. Last Saturday a report was received from Christchurch that the market in the north had slumped, and the local market was expected to show a heavy decline. Although prices have fallen a little, the slump has not eventuated. "It was purely a rigging of the market," stated a merchant this morning. Reports had been made by two Inns in Christchurch, which did uot deal with fanners, but with speculators. On May 28 his firm had purchased 75 tons of f.a.q. white tables at £6 10/ ton f.0.b., South Island, Lyttleton and Timaru, 25 tons to be delivered in July, August and September. The purchase had been made from a Christchurch firm. On June 4 the potatoes had been sold back to a Christchurch firm at £7 5/ per ton. This showed that the Christchurch market had not fallen. Although Sydney firms had expected only 20,000 bags of potatoes to arive from New Zealand by the Waikouaiti, the shipment was of 27,000 tons, and they met with a steady market selling at from £11 to £12 per ton. This price is equal to about £8 per ton, f.o.b. Sydney brokers have wired that the potatoes arrived slightly spotted, and the market was much better than expected. The June shipment will probably meet an even better market.