MARKETS AT A GLANCE.

Auckland Star, Volume LXIII, Issue 133, 7 June 1932, Page 4

MARKETS AT A GLANCE.

\ STEADY WHOLESALE TRADING EASTERN MARKETS AGAIN EASIER OLIVE OIL FIRMER IN PRICE. "Auckland Star" Office. Tuesday, June 7, 1932. The short business week just cxperi enced has been responsible for slightlj more activity in wnolesulc circles, dis tributing departments being exceptionally busy during the latter part of the week Merchants opened up to rather steady business yesterday, and these condition: are expected to prevail throughout th< week. General News. Welcome supplies of English safetie: arrived this week, and as stocks were verj low 011 certain brands merchants' ship ments will be going into circulation almost straight away. Amongst tin seasonable lines just te hand wholesaler: received further supplies of Maelagascai butter beans, curry powder, English tinnee and packet soups. Prunes were also re ceived in the larger sizes, which arc ii good demand at the moment. A smal shipment of ltioz carton dates has jus! been received, and as exporters have litth to ofl'er in cartons at the moment presenl arrivals are expected to be in good demanc during the next few months. Furthei supplies of English table salt in drum: and packets are also to hand, as well a: packet isinglass, 4oz and soz castor oil olive oil in gallon tins, tea and other bull< lines. The bonus previously prevalent 01 a popular and well-known line of Englisl effervescent salts was withdrawn on the 31st ultimo. A small reduction has just been made on a popular line of English individual size pork and beans. Prices or largarine are also lower this week to tlu extent of %d per 11) on bulk and %d pel lb on packets. Some fairly substantia shipments of walnut meat have come tc hand during the week. As this is the last shipment that merchants arc likelj to receive for some time owing to the prevalence of grub in transit on any late shipments, present supplies have beer brought forward in quantities sufficient te carry them on until next season's crops arc available. Prices are exceptionally low, and as quality is excellent the present is a geioel opportunity of laying in stocks, as later deliveries will have to carry interest and insurance charges. The latest information in connection with the Aus tralian dried fruit position is that the Australian Control Board is only offering 2 ami 1 Crown currants to merchants, which are subject to confirmation when orelers are received. So far they have been unable to re-offer sultanas in any graele, anel at present no word is to hand as to when supplies will be available. At the moment agents entertain grave doubts as to whether any further supplies will be offered on this market. Merchants arc still quoting sultanas for forward elelivery, but as it will be seen from the above that they are unable to book any further supplies, it is practically a certainty that any available stocks will be at a premium later in the year. Under the circumstances any retailers who have not yet fully covered would be well advised to do so. Australian canned fruit is practically in the same position as regards further overseas bookings, agents being unable to quote forward. In this case also merchants have contracted where possible, so that retailers will have to rely upon what stocks can be offered by merchants. In regard to apricots the position is not likely to be ejuite so acute, as fairly favourable quotations have been received from South Africa, and sample shipments have come to hand which have opened up very satisfactorily. Further supplies of a very popular brand of English tobacco in 2oz anel 51b tins are due to arrive on the Bth instant. Pineapples. Some slight alteration has been recorded in agents' quotations for Singapore pineapples during the week, l%lb sliced being reeordeel at a reduction of %el per dozen, l%lb crushed, 21b sliced and l'/41b cubes lVfccl per dozen, and second grade cubes Vtd per dozen. Other lines remain at previous levels. The market in general is fairly steady, and at the moment it is difficult to forecast the forward position. Pepper. It is difficult to forecast what further alterations will take place in this market, prices received this week by cable bejing listed at a further %el per lb reduction, and when exchange is taken into consideration represent the lowest level readied in this commodity for many years. Even although quotations arc so low the main wholesale buyers are still inclined to hold off in the hopes of catching the absolute bottom of the market, as there seems a tendency for prices to decline further. Ceylon Tea. At the usual weekly sale of Ceylon tea held on the Ist instant, Vk million pounds was placed uneler offer. Quality was well maintained with some grades occasionally better. Owing to the unfavourable flushing weather it is anticipated that smaller gales will be experienced during the second half of this month. The result of the sale showed that prices were irregular inel easier. Actual price alterations show i reduction of %d per lb on commons, price broken Orange Pekoes- plain 8.0.P.'s inel first classic broken Pekoes. Fine broken orange Pekoes were quoted at a reduction of Vad per lb. Exchange was luoteel at 1/6 l-16th. Sago and Tapioca. Easier market conditions are again noted 3ii Singapore sago and tapioca, both comnodities being listed at a reduction of 3d >er cwt on last week's rates. This market ias shown considerable weakness during ihe last four weeks, and although it will ie some time before the direct steamer sails buyers have already confirmed a lortion of their purchases so as to take idvantage of present offerings. The balmce of the buying will probably be done learer to the departure of the direct iteainer unless the market suddenly alters ind prices commence to advance. Olive Oil. The olive oil market continues firm, and Trench revised prices just to hand show in advance of 3d per gallon on previous ates. Italian is also offered, but in this :ase prices arc 2d per gallon higher than French. Nitrate of Potash. The market for nitrate of potash (saltletrc) is firm in cables just to hand, latest [uotations showing an advance of £1 per on. Dates. Some heavy shipments of present seaou's dates have arrived, and some varieies, particularly stoned, are in keen lemand by the trade. As new season s rill not be available until December next , ready market is anticipated for present tocks. Wholesalers are displaying some ■cry keen interest in offers of new seaon's dates, as the very low prices now lamed for the direct steamer which rrives here in time for early December eliveiies should undoubtedly increase conumption. Ground Almonds. The lower prices recently named for round almonds for prompt shipment from jonelon have induced some business, but he elemanel at this time of the year is cnerallv small with very little trade inuiry. As it is anticipated that prices for round almonds will advance, elue to the ecent increase in the price of Sicilies, any ntending buyers would be well-advised to over. Raisins. Forward prices for old season's Caliornian unbleached raisins for August shipnent have been increased 1/6 per cwt in ables just to hand. New season's prices o far remain unaltered. Resin. The French resin market has remained airly steady for some weeks, although atcst cables receiveel indicate a reduction if 2/6 per ton on "G" anel "N" grades,

whilst "WG" and "WAV" arc recorded at an advance of 2/6 and 5/ per ton respectively. Business remains quiet at the moment. Turpentine. Recently attractive prices were named ion pine tree turpentine, but latest cables received indicate that the market is now firmer to the extent of 2d per gallon. Acids. Cables received from London during the week note a further reduction on a wellknown brand of English citric and tartaric acid for immediate shipment. As a rule little interest is evinced- in quotations on both these lines juet at present, Dβ the demand is mainly a summer one. In view of the latest fall, however, which represents a decline of £0 per ton, the quotation is undoubtedly very favourable, and it is anticipated that some business will be sent forward in consequence. Desiccated Coconut. Advices received dining the week indicate a slightly weaker tendency in agente' quotations for Ceylon desiccated coconut. Apparently thi<s weakness is only expected to be a temporary one as shippers have refused to accept any business for forward shipment, indicating that they are only able to book at present rates for prompt May and June shipment. Epsom Salts. Prices on bulk Magnesium Sulphate (Epsom salts) are firm in cables just to hand, an advance of £1 10/ per ton being recorded. This is a line that is jmported more particularly for the opening of the dairying season, and bulk supplies generally arrive about August. Sultanas. In cables just to hand Smyrna sultanas have been reduced a further 1/6 per cwt for the first shipment of new season's oifering. As it in impossible for merchants to secure any further supplies of Australian in any grade fairly substantial shipments of Smyrna fruit should arrive on this market. Nuts in Shell. > Recent cables to hand advise that quotations for Sicilian filberts are quoted on a firming market, an advance of £4 10/ per ton being recorded for the first of the season's shipment from Sicily about Sep-tember-October next. Wholesale Current Prices. Butter.—First grade factory, booked, llMsd per lb and lid per lb for prompt cash. Second grade factory, hooked, 10% d per lb and 10d per lb for prompt cash. Farmers' separator, 9d per lb. Cheese.—First grade factory, exnort size (SO'k), 6%tl to 7d per lb net. Best quality medium (40's), o%d to 7 a /4d per lb. First quality, 7%d per Ib. Loaf, 7%d to B%d per ib. Tinfoil, %lb pats, 1/3 per lb. Bars, 1/ per lb net. Honey.— Bulk white, sV£d per lb. Light amber, iViA per lb. Bacon.—Hams, (Bid to 10d per lb. Rolled hams, ll'Ad per lb. Cooked ham, 1/ to 1/1 per lb. Cooked pressed hams, 1/3 per lb. Bacon sides, 7%d to B%d per lb. Rolled sides, 9%d to 10d per lb. Middles, !)%d to 10d per lb. Shoulders, 5%d per lb. Rolled shoulders, 7V£d to 8d per lb. Lard, bulk, 6d per lb. Pats, 7d per lb. Linseed.—Whole, 16/6 per cwt. Linseed Meal.—l 7/3 per 1001b. Flour.—Local, 2001b sacks, £15 7/6 per ton; 100's, £16 2/6 per ton; 50's, £16 12/6 per ton; 25's, £17 7/6 per ton; 12%'s, £18 5/ per ton: 6U's, £18 15/ per ton. Malt.—Crushed, 11/9 per bushel. Whole white, 11/3 ]>er bushel. Whole black, 13/ per bushel. Twines.—Seaming, first quality, !?/(> per Ib. Second quality, 2/3 per lb. Binder, 5%d per lb. Peamcal.—lo/0 per 1001b. Linseed Oil Cake Nuts: 12/6 per 1001b. Bluestone: 36/3 per cwt.