MARKETS AT A GLANCE.

Auckland Star, Volume LX, Issue 12, 15 January 1929, Page 4

MARKETS AT A GLANCE.

BRISK COUNTRY BUSINESS. OLIVE OIL FIRMER. WHOLE GINGER AGAIN ADVANCES. "Auckland Star" Office, Tuesday, January 15. Business in wholesale grocery haa been particularly brisk during the past week, country travellers all sending in good business. Apparently country trade has been very good with the storekeepers during the past few weeks and they are now ordering replenishing supplies in order to bring their stocks up to normal again. Town business has been good also, but not quite to the same extent owing to local storekeepers being able to draw supplies from those merchants who were open between the holidays. General. Latest cables received indicate further advances on olive oil, in bulk and bottles, packers' reporting that, although the quality is particularly good this year, the crop is expected to yield much below the usual quantity wbieh is already being reflected in the bigh values ruling. A severe shortage exists locally in sago and merchants are now anxiously waiting the arrival of the direct steamer, which, according to the latest advices, is due to arriv* in Auckland at the end of the month. Haricot beans are also short on spot, and little relief can be expected until mpplies of new season's arrive about April-May. Prices have firmed considerably owing to the present shortage, and also owing to the high indent market. The spice market records a very firm tone in most lines. Cloves have advanced considerably, and mace a further l%d per lb this week. Supplies of canned mullet (previously unobtainable) is again being offered, the first of the new season's supplies now being delivered into merchants' stores. The demand is good and stocks are being rapidly distributed. The direct Melbourne boat recently landed further small supplies of Australian canned apricots and peaches, which proved very welcome in view of tbe recent acute shortage on both these lines. Further supplies of various grades of salmon landed by the last arrival of the mail steamer from Vancouver, are now in store, and merchants are therefore able to cope with the demand for all grades. Supplies of evaporated apples have been off the market for a considerable time, and as local pack are not available until March-April next, a shipment of bulk just to hand should prove particularly welcome. Prices nominated this year by New Zealand packers' of canned pears, indicate an allround reduction against new season's deliveries— T/s'n Bartleet recording a drop of 1/6 per dozen. They are also packing a new one pound size can, which should appeal to a certain class o£ trade. A well-known manufacturer of dyes on this market is introducing a new dye tint that should have a particular appeal to a certain section of the public.

Whole Ginger. The market for Cochin (India) whole crop ginger hae proved to be a particularly strong one since opening rates for new crop weTe first named in October last. Both bleached and unbleached have suffered <twa stiff advances, and further cables now to hand advise * further rise of £8 per ton, making e> total increase on I)he niew crop prices of £12 per ton since the opening of tb* eeaeon. 6o far there Ims been no indication of the cause of sneo a heavy advance on thie market, but the nasi cable received advised that prices •re likely to go still higher. Taploea. Last week's cable* edvised a further easing tendency in the market for tapioca, to-day'e rvtm being the lowest that have been quoted during the past two years. Tit* sext direct eating is not scheduled •o leave -until MarehiApril, but in view «! the low rprioes offering e> considerable amount of businese hae already been done for thie sailing, intending buyers prefering to make some of their purchases on the favourable market ruling than run the riek ef miwring the market altogether. Sploet. Pepper and nutmegs are quoted on en Bnobanged market, the general position of thesa product* from Singapore being very firm. Mail advices just received referring to pepper, etate that the etatwtkal position it as strong ae ever, stocks in London and elsewhere being extremely Hght. Most of the Lampong crop has already been sold, and supplies in the East are mainly in ebrong hande. It in only a matter of ■An* before the trade wtfl have to come in*© the market again, and unless the eomfog Malabar crop* is unusually heavy, thereby upsetting claculations, it ie antieipaied thai even a small demand would one* again forte up prices to a ihigh level. Any tefprovemfflnt in this direction would be readily supported by London speculators* , Pineapples. Quotations) received last week on Singapore pines showed little change, except a slight drop on 2'a and 2V4'a sliced, and also second quality cubes. This last-named Ime ie being quoted at a very low level, and • lair amount of business ie being done for ithe next direct shipment. This grade wm off the market for some time, the buyers' combine endeavouring to market only first grade fruit, but owing to dissension amongst the eanners, some further email shipments were cent forward to thie market early last year and second quality atre now a* , well established on the tnwritot a* (they were previously.

Ctylon Tμ. Owing to tibe Christmas and. New Year holiday* *h* first sale of th« year for Ceylon te* <wam held in Colombo on the 9th inst., when 4,750,0001b was put up for auction. Quality did not show much change from previous offers, all grade* feeing generally poor, with the high grade tea*, in particular, being very plain. The reaiut of Him «1* dwwed that the market opened up iver/ strongly, but eaeed later, and eloaed wttb. prices irregular and all grade* selling «t slightly fcelow opening rate*. Price broken Orange Pekoe* and plain B.OJVs advanced %d per lb, first classic .broken Pekoes and finest broken Orange Pekoes advanced %d per !b. Exchange wa» quoted at 1/6%. Ground Almonds. Based on to-day's prices for Sicily*, prevent indent rote* for ground almonds are considered very favourable, and considerable business for forward shipment has already been done. Opening prices are •lightly higher than last year's value*, but ax« not any (higher in price in proportion to the price that ruled for Sicily* last year.

•Icily Almonds. t *2?« ue * received advise an advance Jijf* Per ton on Sicily almonds for %Z2& • h ?» mMrt - for supplies for eTe e*««<i««blf higher tributing channel., ♦nticipate a gradealW advancing prune market. It m fur«i« noted that the Yugoslav <&£££?% making wry strong «fforU to extend their *.l«s of Yugoslav prunes in Continental market*, and, em the , quality of all cradM that quarter is partwnVly gqpri «S

year, it is posiible that thk competition ■will reduce the demand that usually goee to California for the email size prunes. However, it ie considered thai, notwithstanding the possibility of this falling off of trade, the market i* considered to "be very firm. Canned Fruit. Prices for new eeaeon'e Australian canned fruit have now been named for March-April shipment and are extremelyfavourable thie year- They are at euch a level that competition in American fruit has been practically eliminated, this applying more particularly to peaches. On peare, the market ie being supplied more favourably "by the local packed products, and upon apricots by the very excellent pack available from South Africa. Bulk Dates. Coincident with the better grades of bulk dates advancing in the London market, there has been considerable competition amongst the various houses on any business offering on Sair quality. A special offer at a reduction of 1/9 per cwt brought immediate business, witlh, the result that another special offer wae made for the immediate booking of a large quantity, which only held good for & very short period, an indication of the strength of the market for second quality as well as the higher grades, being the almost immediate withdrawal of these special offers, all prices moving up to their previous level for February delivery. Further business has since been cabled up to London at the lower quotations, but buyers were unable to get confirmation. Rangoon Rice. Prices for Rangoon rice for the MarehApril steamer have just been announced by cable, and in comparison with last year's opening rates are about 10/ per ton higher. Aβ this is the main purchasing boat on account of supplies for winter requirements having to be brought forward by this boat, good business is anticipated, especially as the present quotation, although higher than last year, is a very favourable one, in view of the recent advance of £2 per ton that took place on Australian about the middle of December laet. Lima Beans. Another advance of £2 per ton has just been advised by cable on Madagascar lima beans, which brings this market to a higher level than has been noted for years past. The present quotation de for forward shipment from London—FebruaryMarch. Wholesale Current Prices. Butter. —First grade factory butter, booked, I/BV2 per lb and 1/6 per lb for prompt cash. Second grade factory, booked, 1/6% per lb and 1/6 per lb for prompt cash. Farmers' separator, 1/3 per pound.

Cheese.—Firet grade factory, medium size mild. 10d to 10V4d per lb. Loaf, 1/0% net per lb. Cheedale, 61b bars, 1/3 per lb; 7oa packets, 9/6 per dozen. Crest, 4/6 per dozen. Bacon. —Hams, 1/1 per lb; rolled hanu, 1/3 per lb; boned hams, 1/4 per lb. Bacon: Sidea, 10d to lid per lb; rolled sides, 1/ to 1/1 per lb; middles, 1/1 to 1/2 per lb; shoulders, 8d peT lb; rolled ehouldere, 10d per lb; lard, bulk, 9d per lb; pats, 10d per lb. Flour.—Local: 2001b eacke, £18 per ton; 100'e, £18 15/ per ton; 50'e, £19 5/ per ton; 25'e, £20 per ton; 12%'e, £20 17/6 per ton; 6%'s, £21 17/6 per ton. Southern: 2001b eacke, £18 per ton; 100's, £18 15/ per ton; 50"s. £19 per ton; 25'e, £19 10/ per ton; \2W», £20 5/ per ton; 6%'s, £20 17/6 per ton, all lew 2% per cent discount. Linseed.—Whole, 22/6 per cwt; ground, 23/6 per 1001b. Malt.—Crushed 12/ per bushel; whole white, 12/ per bushel; whole black, 14/9 per bushel. Twine*.—Seaming, 3/9 per lb; binder, 8d per lb. Peameal.—l3/ per 1001b. Linseed Oil Cake Nut*.—l 4/ per 1001bLineeed Meal.—l 6/ per 1001b. (Unprocurable meantime.) Bluestone.-—32/6 per cwt.