GRAIN AND PRODUCE

Auckland Star, Volume LIX, Issue 79, 3 April 1928, Page 4

GRAIN AND PRODUCE

SHARP DROP IN POTATOES. MAIZE MARKET EASIER. BUT PRICES UNALTERED.

The feature of the week has been a sharp drop in the price of potatoes, following on the first arrivals of substantial consignments from Canterbury. A week ago the current wholesale rate was 13/ per cwt; to-day it is 9/6, and lower quotations can be obtained for delivery next week. The quality of the Southern potatoes is quite good, but they are not sufficiently matured to be classed as good keepeis. This will not matter much, as there were no stocks in hand, and the vanoiw lines landed will go into immediate consumption. Southern quotations have weakened, and local merchants do jiot anticipate any difficulty in covering their future requirements at reasonable rates.

Onions.' The Southern market for onions is weak owing to a poor demand. This is attributed partly to the low prices ruling there for other classes of vegetables. Locally, there is no alteration, and 10/6 per cwt is an average quotation.

Maize. At the moment the maize market is weaker in consequence- of larger quantities having come to hand from the coast and Gisborne. However, - quotations are unchanged, and in view of the statistical position it is not considered likely that there will be any appreciable reduction in values lor some time to come. They may, indeed, be forced up when the winter demand sets in, though the lower cost of wheat is bound to have a steadying effect.

| Oats and Chaff. The market for oats is exceedingly firm, and offerings of Gartons for delivery to this centre are decidedly scarce. Stocks on hand are short, as local merchants are not prepared to buy heavily at existing rates. They consider that when the present demand for export to London has been satisfied the market will ease. Of the Southern market the Lyttelton "Times" says: "The market for Garton oats remains steady at late rates. Owing to the light offerings from the country, merchants' stocks are generally on the small side. A grade Gartons are quoted at 3/8 a bushel f.0.b., s.i., and B's at 3/5. Sales of Gartons have been made with the Old Country, but at prices considerably lower than these. There are some particularly choice lines of Gartons about, and these are worth 3/1 a bushel on trucks. The quality of the Dun oats this season varies a great deal. Good, dark, heavy Duns are worth 3/ a bushel on trucks, but on the pther hand there are some lines that would not bring more than 2/6." The position in regard to chaff is unchanged. It is a remarkable fact that local quotations have not varied to any extent during the past * six months, hovering around £9 10/ per ton ex store during the whole of that period. Ample supplies of first-claes quality are coming forward from Marlborough and from Canterbury.

Wheat. "Wheat isn't giving us any concern at all, was the information given to a "Star" representative by a leading Auckland importer. "We are .satisfied," he added, "that there is ample wheat in the country, and that when we want to buy there will be people ready to _ sell." This accurately represents the attitude of local merchants, who ridicule the efforts of Ministers to persuade the farmers to stand out for higher returns. They point out that many of the growers recognise that it is better business to take 5/6 per bushel now and secure the cash than to obtain a few pence per bushel more later on when added expenses and the toll of wastage have to be considered. Dealers here, therefore, are content to purchase for immediate requirements only. The current wholesale rate is 7/0 per bushel.

Bran and Pollard. Reasonable supplies of bran are now obtainable, but high prices are curtailing the demand. There is a good demand for pollard at the present time. Grass Seeds. The exceyive demand for grass seeds has eased off, although good business is still being done. A much larger area has been seeded this year than has been the case for some considerable time.

Peas and Linseed. "Recent broken weather in Canterbury affected the quality of partridge peas (says the Lyttelton "Times"), and during the past week or so merchants, who have forward orders to fill, have found considerable difficulty in securing lines of peas that would grade No. 1. Peas were wanted this week for shipment Home by boats at present loading in Lyttelton, and sales of No. 1 grade were made at 0/ a bushel on trucks. For later delivery on trucks, the price is 5/9. These figures are well above London parity, but merchants have had to pay them in order to fill orders taken last November and December. It is reported that linseed, available for early delivery, has been sold at £15 a ton on trucks. There was no carry-over of old season's linseed* and merchants, who had orders to fill, have been awaiting anxiously the arrival of the new season's crop. Of course, it is doubtful whether the price of £15 a ton will be maintained. The minimum price of linseed grown on contract for the Auckland mill is £13 a ton, on trucks. If the London market justifies it, more than this will be paid."

Fertilisers. A good demand for autumn topdressing still continues, and weather conditions are favourable. Local superphosphate manufacturers are sending out large tonnage each week, chiefly high grade superphosphate and basic super. A large shipment of basic slag is now discharging ex the King Egbert, and is being distributed direct to farmers. The s.s. Kintyre is discharging a part cargo of Ocean Island phosphate for the local super manufacturers, who also are to receive a shipment of sulphur per the s.s. Cowden Law, due about the 12th instant. The local works are holding good stocks of high grade super, while in addition ample supplies of raw material are coming forward. Prices remain steady at late rates.

Wholesale Current Prices. Sharps and Bran. —Mill prices: Sharps, £9 10/ per ton. Bran, £8 per ton. Oats, feed, B Gartons, 4/7; A Gartons, 4/11 per bushel. Fowl wheat, 7/6 per bushel. Maize, ex store, 7/; ex wharf, 6/9 per bushel. Barley, feed, 5/9 per bushel. Cape barley, seed, 7/6 per bushel. Maize meal, 15/ per 1001b. Barley meal, 13/ per 1001b. Chaff. —G.b.0.5., £9 10/ per ton, for Blenheim or Canterbuiy. Potatoes.—Rangitikei and Canterbury, £9 10/ per ton. Onions. —Canterbury, 10/6 per cwt.

KAURI GUM. The Kauri Gum Control Board reports that prices obtained during the fortnight ended yesterday were as follows:— White Gum.—Seven-eighth scraped, 150/; good washed nuts, 70/; poor, 60/; chips and dust, 35/ to 40/. Swamp Gum.—Hearty, 35/ to 36/; poor, 28/ to 30/. Black Gum. —Three-quarter scraped, 120/; washed steel, 75/ to 80/; good mixed black, 56/; ordinary black, 32/ to 40/; poor nuts, 26/; chips and dust, 20/ to 23/. Bush Gum. —Bled, 100/ to 110/; rescraped, 150/.

MURCHISON OIL COMPANY. The latest report from the driller, dated March 1, reads as ..follows: — Hole 3000 ft deep in mnddy sandstone; standing up well.