MARKETS AT A GLANCE

Auckland Star, Volume LXI, Issue 201, 26 August 1930, Page 4

MARKETS AT A GLANCE

GOOD TWENTY-FIFTH

BUSINESS. PRIMAGE OFF AUSTRALIAN DRIED FRUIT. REDUCTION ON STOCKINETTE. "Auckland Star" Office, Tuesday, Augusit 20. Although wholesale distributing trade was fairly quiet during the early part of last week,'it showed a steady increase during the balance of the week. Merchants opened up to good business yesterday, there being a steady increase in the volume of traders' requirements, mainly due to the influx of the usual 25th orders that are now being distributed. This increased business is considered very satisfactory by the trade, taking into account that storekeepers' orders for some considerable time past have been on a very small scale. Forward business, on the majority of main merchants' lines, particularly for Christmas trade, has so far proved rather disappointing. This is probably due to the fact that storekeepers are afraid that the higher cost of these lines, caused by the late tariff alterations, will result in decidedly less interest, and they are therefore buying very conservatively. Quite a number of lines that arrive during November and December are only suitable for Christmas trade, and •merchants are in rather a difficulty as they do not wish to over-estimate their requirements and be left with considerable consignments on their hands at the end of the holiday period. In previous years the majority of storekeepers have usually booked their requirements soon after prices were first named. General. Information has just been received that one of the principal manufacturers in England of bulk cocoa has increased prices by %d per lb, which is equal to an advance of 10 .per cent in f.o.b. value. Announcement has also been made of a reduction in price of one of the foremost brands ,of English safeties, of approximately 4d per gross on broken quantities, with the same proportion of reduction on the larger quantities. This alteration should prove of interest to the trade generally, as the surtax has generally increased merchants' costs. There lias been an unusually heavy demand for matured cheese duing the past few weeks, so that at present the market ds very short 011 spot Of the most favoured brands. Merchants are offering a new line of dried fruit recently arrived from South Africa in dried plums. This recent consignment has proved a. very fine sample, and is attractively packed, and has landed at a very opportune time, when very little fresh fruit is available. Further supplies of English curry, herrings in sauce, and English pastes, previously short on this market, are now to hand. Late shipments of walnut halves, although slightly darker in colour than usual, have 'proved an excellent sample as far as quality is concerned. The season is now in full swing for the sale of cattle drenches, petroleum jelly and other like products, and good sales are being recorded. Besides offering cooked mutton birds in kits of approximately 35 birds, the wholesale are now offering'tins of approximately 40 birds as well. Both these lines are South Island pack, and fair sales are assured. One of the Southern packers is now offering an additional soup, variety under the name of vegetable, which should appeal to a popular public demand, as prices are reasonable.. Owing to the, recent adjustment on imported raw leaf tobaccos, a leading manufacturer has reduced their late increased prices on tobaccos, in 2oz tins, by 6d per dozen, and 31b tins to their original level. A new line of cigarettes in 10's, 20's and 50 s is now being introduced to this market by one of the well-known London packers, and a 6 it is being,backed by heavy advertising and gift schemes good sales should result. A local line of Brown Windsor soap has been increased 6d per box. Tinned mullet, owing to the almost total failure of 'the catoh, is practically off the market, the majority of wholesalers being totally without stocks. First September deliveries of tobacco and cigarettes will commence to the country on Saturday next, the 30th, and in the town area on Monday the Ist. Australian Dried Fruit. Owing to an Order-in-Council the Australian tariff on Australian currants and sultanas has now had the primage duty of 1 per cent taken off. This concession will tend to make Australian dried fruits still more attractive to merchants, and the trade on a .price basis, as it is not generally known that this 1 per cent primage was, in the past, payable on the Australian current domestic value, which was nearly 100 per cent mor.e than the export selling price. Salmon. New season's prices on British Columbian salmon were announced some weeks ago, and 011 a .price basis are slightly easier than last year, but owing to the recent increases in the Customs tariff new season's stocks will cost out at slightly higher rates than formerly, particularly m the case of Cohoes. Keen interest is being takep by the retail at the moment in forward quotations, and considerable business has- already been done. 1 Californian Canned Fruit. New season's quotations were advised on Californian canned fruits some days ago, but very little interest is expected to be taken by the wholesale, with the exception of offers of lowest grades, on account of the greatly increased landed cost, due to the recent alterations in duty. On a basis of the present duty and tariff surtax the basis of percentage on cost of landing this fruit on packers, f.o.b. prices is about 67 per cent. Ceylon Tea. At the usual sale of Ceylon tea held on the 19th inst., 2,125,0001b was placed under offer. Quality of the various grades placed under offer was generally 'unchanged, although some grades were occasionally slightly inferior. The result, of the sale showed <i good general demand. Coiiimon binds, advancing considerably, light liquorang kinds irregular; others in strong demand. Commons moved up on an average of from %d to Id per lb. Price broken orange Pelkoes remained tam; Plain B.OJP.'s declined %d; first classic broken Pekoes remained firm, and finest B.OJVs Vid per lb. Exchange was quoted at 1/6. ' Raisins. Golden bleached raisins advanced 1/ per cwt last week, and although _ offers have since been sent up at prices slightly below present existing quotations, packers have refused to accept. The market on bulk Thompson's Seedless unbleached also remains firm, and any offers below the •recently increased prices have not been accepted. In seeded, oartons, new season s quotations are advised by cable as having weakened to the extent of 3/ per cwt on the prices cabled about 10 days ago. Spanish Muscatels. A cable received from London advises that packers of Spanish muscatels are now offering to book business at a reduction of 5/ per cwt on previous quotations. As merchants' buying is only just being done it is practically , certain that all - ill secure .the advantage of the present reduction. Jordan Almonds. Shipments of new season's Jordan almonds from London for arrival from November-December are showing a tendency for lower values, cables just_ being received advising a reduction of 5/ per cwt. , MacaroniAs the result of recent tariff revisions Canadian macaroni now pays lieither duty nor surtax. This will be reflected in, future landing of the Australian auuiik

factured. article,. as articles of Australian origin do not pay primage if a similar article of British manufacture does not carry surtax. Owing to the reciprocal tariff, howerver, Australian macaroni will pay 30 per cent duty as hitherto. Smyrna Figs. Quotations are at very attractive figures to-day, and as retail buyers are not operating as anticipated, merchants will be compelled soon to place their orders with shippers as the steamer leaves in September. It has been quite freely suggested that merchants have not made many forward sales, with the result that purchases will be considerably restricted. This, combined with the fact that the market at present is quite favourable, will certainly create an accute shortage of figs in December next. Those retailers in a position to do so should therefore cover their requirements without delay, otherwise it is practically certain that there will not be sufficient stock brought down to cater for ordinary trade requirements. Cream of Tartar. English cream of tartar has shown a weaker tendency lately, latest quotations showing a reduction of three shillings per cwt. Stockinette. Contrary to expectations a further cable was received last week from L on * don, advising a further reduction in this line of Id per lb. This last alteration brings this line down to a very attractive basis. Acids. Citric Acid.—Cable advices received some few dayt, ago advised a weaker market on this line, both powdered and crystals being I.jted at a reduction of 2/6 per cwt. Tartaric Acid—This commodity is also lower in price. Latest cables from London advising a reduction of 6/ per cwt. Dessicated Coconut. The market for dessicated coconut still continues to decline, a further cable being received last week advising a reduction of 1/ per cwt. Dates. Agents stated previously that there was a possibility of a direct steamer leaving Basra to bring new season's dates to the Dominion. This actually did not eventuate, although shippers have arranged for the first consignment to leave Basra in September, and although this is not a direct boat, by transshipping it will be possible to bring new season's dates to Australia somewhere about the end of October, and be transshipped to arrive here about the middle of November. This is up to the usual time of direct boat arrival, and as prices for the coming season are more favourable than they have been for some considerable time, considerable business over and above that already booked is anticipated by agents. Forward shipment prices have been reduced this week to a level that puts them lower than they have been for many years. It is considered that date values to-day are exceptional when compared with the somewhat higher prices on American dried fruits, which should create a heavier demand for this commodity. Wholesale Current Prices. Butter.—First grade factory, boqked, 1/4% per lb, and 1/4 per lb for prompt cash. Second grade factory, booked, 1/3% per lb, and 1/3 per lb for prompt cash. Fanners' separator, 1/1 per lb. Cheese. —First grade factory medium size, mild, B%d to 9%d per lb net. Loaf, 9}4d per lb net. Chesdale, 61b bars, 1/3 per lb; 7oz packets, 9/6 per dozen. Bacon. —Hams, 1/1 per lb; rolled hams, 1/4 per lb; cooked whole ham, 1/5 per lb; cooked pressed ham, 1/10 per lb. Bacon: Sides, lid to 1/1 per lb; rolled sides, 1/2 per lb; middles, 1/3 per lb; shoulders, 9d per lb; rolled shoulders, lOd per lb. Lard: Bulk, 9d to lOd per lb; pats, 8d to 9d per lb. Flour.—Local: 2001b sacks, £18 10/ per ton; 100's, £19 5/ per ton; 50's, £19 15/ per ton; 2o's, £20 10/ per ton; 12%'s, £21 7/5 per ton; 6%'s, £21 17/6 per ton. Linseed.—Whole, 23/ per 1001b; ground, 21/ per 1001b. Malt—Crushed, 10/3 per bushel; whole, white, 9/9 per bushel; whole, black. 13/ per bushel. Twines—Seaming, 3/6 per lb; binder, 8d per lb. Peameal. —12/ per 1001b. Linseed Oil Cake Nuts. —15/ per 1001b. Linsc-d Meal.—l 7/ per 1001b. Bluestone.—3s/ per cwt.