MARKETS AT A GLANCE.

Auckland Star, Volume LX, Issue 256, 29 October 1929, Page 4

MARKETS AT A GLANCE.

BRISK WHOLESALE TRADING. WHOLE GINGER OPENS HIGHER. JUTE MARKET STILL FALLING. "Auckland Star" Office, Tuesday, October 29. Country trading has been unusually active during the whole of the past week, the amount of forward business that has already been transacted for next month's account being considerably above normal, and as this seems a very fair indication of the volume that will be transacted during the next few months, it seems quite evident that the wholesale grocery trade will soon be working at full strength in all departments.

General. Overseas shipments of seasonable lines are quickly coming to hand, and as the majority of these commodities have previously been sold on an indent basis, merchants are distributing many of these lines immediately. Shipments from overseas comprise the following lines: Para Brazil nuts, dried .apricots, fruit pulp, Jordan almonds, peanuts in shell, desiccated coconut, both packets and bulk, English jams, custard powder, mincemeat, blamco, Sicily filberts, walnuts, etc. A shortage previously experienced on some grades of highest grade rice has now been overcome by the arrival of further supplies from overseas. A good demand has been experienced lately for both bulk and packet desiccated coconut, consignments as they come to hand being well sought after, the market being very firm. The remainder of last season's stock of Californian raisins is being rabidly sold, with a corresponding rise in value as new seaeon's will be at such a premium when they arrive on this market. The first shipment of Californian figs is on board the G-olden West, due about the end of this month. As this will be the first of the new season's arrivals of this fruit, supplies are likely to be eagerly sought after. The bonus that has 'been operating on a rather well-known line of washing powder is definitely being withdrawn on'the 20th of nest month. A line that proved verypopular last season amongst the retail trade in the many liquid fly exterminators offered, is opening the season by offering a bonus of one bottle extra with every dozen ordered. Further supplies of English coffee essence, previously in short supply, have just landed. Sair dates are again in short supply, with further shipments not expected to arrive before well into next month. There has been a further slight all round increase in merchants' selling rates of both Norwegian and Canadian 6ardines, owing to slight increases in landed costs. From the early inquiries that are already being made for the various packings of figs for the coming reason's trade, it seems quite _ apparent that supplies coming forward will not be equal to the demand. Last season there was an unusually large carry-over of merchants' stocks of figs that had to be finally cleared at a loss, which has resulted in buyers for this year operating on a much more conservative basis, with the result that a shortage on most packings is predicted. Clothes pegs arrived recently and landed at increased costs; following shipments are also showing increases, with costs expected to be still 'higher than at present. Further supplies of a popular line of refills for, white shoes are now to band, and should sell well.

Whole Ginger. Prices on Cochin ginger, new seoson's output, have joist been named for shipment approximately January-February inext. ■ Prices are considerably higher than last season's, being in the vicinity of £7 10/ per ton in excess of last seasons quotations. Pineapples. Pineapples remain firm and during the last ifew weeks considerable 'business has been done for next direct shipment, leaving Singapore November-December. This shipment ■ will comprise the main requirements of merchants' summer trade, which accounts for the substantial business being done. Sago and Tapioca. The Penang market for both sago ana itapioca is still advancing, the last quotations received on sago showing an increase of 7/6 per ton, and in the opinion of buyers prices are now at a level which is actually precluding business. Fortunately the majority of merchants bought much earlier in the season, the greater proportion of the business done showing an advantage of at least £1 5/ per ton on present rates.

Pepper. Quotations on all grades of pepper have been very erratic lately, the market being extremely hard to follow. Prices, after declining slightly about ten days ago, have now gone back to previous levels. Buyers are not showing much interest just at present, the bulk of this business having already been finalised when the prices were very much lower. Turpentine. Cables to band a few days ago advise that Pinetree turpentine, after _ being quoted on an advancing market, is now showing a weaker tendency, latest lists advising a reduction of Id per gallon on previous quotations. Australian Dried Fruits. Agents for the Australian Dried Fruit Control Board are still in the position of being able to accept business for October shipment, in both currants and sultanas, with the exception of four crown of the former, at present rates, but in view of the strong Californian and Smyrna markets it seems evident that when the Control Board authorises the extension of shipment beyond October, they will do so at higher prices. Record shipments of currants have gone forward to Great Britain this season, and consequently there is at present only a limited quantity available for export. The quantity of 1, 2, and 3 crown sultanas now remaining in Australia and available for export,_ is comparatively restricted, and everything points to a much firmer market for sultanas in particular. Under the circumstances buyers will be well advised to secure their forward position by placing any further business at an early date.

Preserved Ginger. Hongkong shippers have cabled during the week advising a further reduction of %d per lb on Chinese preserved gitiger, new season's, for early shipment. Castor OH. Castor oil, Australian thirds, for shipment by the next direct steamer, scheduled to leave November-December, is again showing a firm market, latest cables received from Calcutta advising an increase of VA& per gallon on cases and 2d per gallon on drums. Ceylon Tea. At the sale held on the 22nd inst, the total quantity offered amounted to 2,000,0001b, which showed a slight falling off to the previous week's sale. The result of the sale showed a fairly good demand, although prices were generally irregular owing to inferior quality. Commons, Price broken Orange Pekoes and plain 8.0.P.'s showed a reduction of %d. First classic broken Pekoes V2i, finest 8.0.P.'s Vid. Exchange was quoted at 1/6 5-16.. Sorento Walnuts. Cables just to hand notify a reduction of £2 per ton on Sorento walnuts. New season's shipment, is -being made this gnonth.

Walnut Halves. Prices named last -week for French perfect walnut halves compare very favourably with Chinese, with the result that this line is creating some interest in the local market, which is absolutely bare at present, owing to merchants having ■refrained previously from taking the risk in bringing forward shipments of this ■commodity. In view of the lower market quite a considerable amount of business has been done. American Raisins and Prunes. The American raisin market has shown practically little change during the pilst week—in fact the latest information received by mail from America indicates that there is only approximately 10 per cent of the crop left in the hands of the growers. This is a prenomenal position, and indicates the possibility of both •raisins and prunes remaining fully firm. It is confidently stated by some buyers that those who have not already covered on prunes will experience great difficulty i in obtaining any supplies next year. Kapok. During the past few weeks kapok has shown a firm tendency, the latest quotation advised on Samarang prime No. 1 ehowing an increase of %d per lb. Crystallised Cherries. The market for crystallised cherries has fluctuated very considerably over the last ■three weeks, an advance of IJ/4dl J /4d taking place in the earlier part of this_ period, .later declining to the original price, and forward business has since been accepted at this figure, which is proving particularly attractive to merchants. The fact that London shippers will not accept business beyond March-April indicates a firm market later. Smyrna Figs. Owing to the heavy rain affecting the gathering of the fig crop in Smyrna, shippers have shown some uneasiness as to whether the quantity available will prove sufficient for the heavy demand that i 6 being experienced for both bulk and box packings. The ' market, therefore, _ is decidedly firm, latest cable quotations ■advancing 2/ per cwt. This last increase should not materially affect the position here until the new year, merchants having already finalised their business for the ■Christmas trade, shipments of which are due about the end of next month. Wholesale Current Prices. Butter—First grade factory, booked, 1/7% per lb, and 1/7 for prompt cash. Second grade factory, booked, 1/5Vz per lb and 1/5 per lb for prompt cash. Farmers' separator, 1/2 per lb. Cheese.—First grade factory, medium size, mild, 9%d to ll%d per lb net; loaf, lPz&d per lb net. Chesdale, 61b bars, 1/3 per pound; 7oz packets, 9/6 per dozen. Bacon. —Hams, 1/1 per lb; rolled hams, 1/3 per lb; boned hams, 1/4 per lb. Bacon: Sides, 1/ to 1/1 lb; rolled sides, 1/2 lb; middles, 1/3 per lb; shoulders, 9d per lb. Lard, bulk, 9d per lb; pats, lOd per lb. Flour.—Local, 2001b sacks, £18 per ton; 100's, £18 15/ per ton; 50's, £19 5/ per ton; 25's, £20 per ton; 12%'s, £20 17/6 per ton; £21 17/6 per ton. Southern: 2001b sacks, £18 per ton; 100's, £18 15/ per ton; 50's, £19 per ton; 25' c, £19 10/ per ton; 12V/b, £20 5/ per ton; 6%'s, £20 17/6 per ton, all less 2% per cent discount. Linseed.—Whole, 22/ per cwt; ground, 23/ per 1001b. Malt.—Crushed, 12/ per bushel; whole white, 12/ per bushel; whole black, 14/9 per bushel. Twines. —Seaming, 'J/9 per lb; binder, 8d per lb. Peameal.—l2/ per 1001b. Linseed Oil Cake Nuts.—ls/ per 1001b. Linseed Meal.—l 7/ per 1001b. Bluestone—3B/ per cwt. Supplies very short.