MARKETS AT A GLANCE.

Auckland Star, Volume LXIII, Issue 139, 14 June 1932, Page 4

MARKETS AT A GLANCE.

FAIR TRADING DURING WEEK.

ACIDS AGAIN EASIER. WEAK MARKET OX COCONUT. "Auckland Stai 1 " Olfiec, Tuesday, Juno 14. Wholesale merchants have experienced fair trading during the week, business from the country districts being quite good considering the time of the month. In the town area, however, trade is somewhat quieter, being restricted mainly to replacement lines. More new shops aie being opened in the town area almost every week, and as the districts in which these are being opened are already well catered for this has intensified the drastic price cutting which has been prevailing for some time. In an endeavour to scenic patronage, lines in some instances aie being offered at cost, and a few even below that margin, which does not inspire any confidence in the future outlook. General News. Advices jist to hand feature a further reduction in two popular Southern brands of 4's and 20's rolled oats of 2/ and 4/ per dozen respectively. Packets also show a reduction of 1/ per dozen. A new line of assorted biscuits in cartons has just been olfcred by one of the Southern manufacturers, and as this line is very attractively packed and the price very reasonable it is anticipated that a good demand will be created. Further supplies of English bulk fine salt, also 51b bags in plain and iodised, have just conic to hand. Other lines from overseas which arrived bv the Tainui were carton dates, Madagascar butter beans, safeties, cigarettes, flu id magnesia, isinglass, curry -powder, Epsom salts, carbonate of magnesia, castor oil, soup powders, cigarette papers, tooth powder, etc. 33y tlic (Janadian Oonstructoi Canadian wrapped sardines with keys. By the Karamea, from Liverpool, % s, Is and 2's caustic soda, packet and bulk cornflour, poultry spice, toilet soap and safeties. The arrival of poultry spice by merchants coincides with the demand that is now being experienced, and is expected to continue during the winter months —this line always selling well during that period. Lima beans are also a popular winter line, and are likely to be in demand. Bulk cornflour, owing to its low price in comparison to packets, has been selling very freelv during the past few months, and merchants' stocks were at rather a low ebb prior to the arrival of the above shipment. Supplies of Tasmanian mutton birds arc now to hand, with prices quite reasonable, so that this line should sell. Casks in this last shipment are slightly larger than usual. Considerable attention is now being paid by the retail to merchants' offers on South African dried fruits (peaches and apricots), as no Australian will be available this year. Merchants' stocks of some grades were very low prior to the arrival of this shipment. Some inter-house buying lias been experienced on salmon, various grades already being reported in short supply. Inquiries are also being made for axe handles and a well-known line of English effervescent salts, which was offered under a bonus scheme some weeks ago. Split peas and pearl barley are selling well, this being the period of heavy demand. Rice is also in demand, although considering the cheapness of this article, and its high food value it is not selling quite so much as would be expected. Overseas quotations on this commodity remain unchanged, and millers are still prepared to book Australian grown at list prices for delivery for the next three months at buyers' convenience. Advices received in connection with Java coffee indicate that there is an acute shortage of supplies of satisfactory quality for immediate shipment. The new crop will be ready for shipment from Java at the end of July, and American buyers have already operated extensively for July and August shipments. Prices for Mocha coffee are slightly higher than last month. The first of the new season's shipment of Argentine canary seed arrived from Australia last week to a bare market, and as the price was remarkably low there was an exceedingly heavy demand. No change has been recorded in the price of Manchurian seeds, such as hemp and millet. Acids. Cables received from London during the week advise that quotations on citric and tartaric acids are again easier, the former to the extent of %d, and the latter Id per lb. Desiccated Coconut. A reduction of £15/ per ton has been advised on desiccated coconut in cablcs received from Colombo during the week. Cables also indicate that sellers, while quoting at the above reduction, are apparently of the opinion that prices will shortly firm, as they are not willing to book forward to any great extent. Ceylon Tea. At the usual weekly sale of Ceylon tea lield at Colombo on the 7th instant, 2,500,0001b weight was placed under offer. Quality was useful and at the sale common kinds were generally in good demand while others were easier. Actual price results showed that commons and price broken Orange Pekoes were firm, plain 8.0.P.'s reduced %d per lb, first classic broken %d, and fine broken orange Pekoes Id. Exchange was quoted at V 6 l-16th. Mail reports to hand indicate that the quantity offered during the month totalled just over 12,500,0001b, being some 3,250,0001b inore than the quantity offered during the same period for the previous year. The average prices showed a big drop compared with the average for the previous month, and was about 3 cents lower than the average for April, 1931. Quality showed a marked decline during the month, which was to be expected at this time of the year. As the month progressed highgrown teas steadily declined as buyers continued to discriminate carefully and follow quality, prices dropping in proportion, which mainly accounts for the lower average. The market during the first half of the month was unsteady owing to the uncertainty of the British Budget proposals, but after the reading of the Budget the market steadied down with an active general demand for all grades under 50 cents, good sound coloury brokens being in particular request up to 40 cents. The general weakness in the market continues to be displayed in the very irregular demand for medium-grown teas, particularly broken grades, anything of this description, particularly with light liquoring, being exceedingly difficult to sell. No sales were held in London during the last two weeks up to April to enable the trade to settle down to the new duties, and the Customs people to organise their staff for the collection of the duties, but at the resumption of the London auctions the demand was good, particularly for all good liquoring teas, which realised very full rates. The British Government has imposed a duty on British grown tea of 2d lb and 4d per lb on foreign-grown tea, this giving the Empire produce a preference over its competitors of 2d per lb. It is believed that stocks in the United Kingdom have declined quite during the last month or two, but as reliable figures are not to hand it is not possible to quote them. The export of Ceylon tea from the beginning of the year up to April 13, shows a decline of approximately 6,000,0001b to all markets. Crop came in freely during the month and good crops are expected for May, but quality is likely to prove unattractive. Exchange during the month was rather easier. Oil of Lemon. Prices on oil of lemon, new season's, are now moving up, the last quotations to hand a few days ago naming prices on a much firmer basis than previously. Currants. New season's Greek currants in Amalia and Patrna grades are now being offered for the firgt of new season's shipment in September next. Present rates, in coniI parison t® the i j rcvious year arc con-1

sidored quite attractive, although owing to supplies being able to be obtained from Australia in a very much shorter period and the quality being slightly better, it is anticipated that the greatest demand will go to the latter country. Cream of Tartar. A cable from London advises that a well-known make _of English cream of tartar is listed this week at a reduction of £1 per ton. but even at the revised price the Australian article is much more attractive at present in view of the exchange concession on Australian importations. Canary Seed. Prices on Argentine canary seed are still being quoted at last ruling rates. Further business has been put through for prompt delivery as sellers advise that the market is firm with an upward tendency. Resin. The.market for French resin is in cables just to hand again showing an easier tendency, "G" and "N" grades both being listed at a reduction of 5/ and 7/ per ton respectively. The market generally is quiet, as most of the buying was done prior to the advances recorded during the last six weeks. Brazils. In cables received from London it is stated that quotations on large washed Manoas are a shade easier to the extent of 1/6 """ cwt. Bold Paras also show some weakness, being reduced 2/ per cwt. These revised quotations are for shipment next month. Quotations on the other hand for Brazil nut kernels are showing some firmness, both blanched and unblanched being offered at an advance of %d per lb. Dates. Good quality Sair dates are quoted from London on a firm market, cables to hand this week advising an increase of Od tier cwt on this grade. Xew season's dates have already been offered at some very low prices, while some speculative offers have been issued. It is not considered, however, that these low prices will be maintained. The good quality packers arc inclined to be of the opinion that prices must go higher. Bulk Raisins. The market on golden bleached raisins is again easier, cables just to hand advising a reduction of 2/ per cwt. Hardware. There is little change to report in general hardware lines such as wire, etc. Builders' sundries have shown a slight improvement during the last week or two, but some consider this is only temporary. In general household lines business continues about the same, although the demand in this section seems more for the cheaper grade article, quality manufactured lines being rather neglected. Wholesale Current Prices. Butter. —First grade factory, booked, 11 %d per lb and lid per lb for prompt cash. Second grade factory, booked, 10% d per lb and 10d per lb for prompt cash. Farmers' separator, 9d per lb. Cheese. —First grade factory, exnort size (80's), 6%d to 7d per lb net. Best quality medium (40's), 6%d to 7%d per lb. Eirst quality, 7%d per 113. Loaf, 7%d to B%d per lb. Tinfoil, %lb pats, 1/3 per lb. Bars, 1/ per lb net. Honey.—Bulk white, 5%d per lb. Light amber, 4%d per lb. Bacon.—llanis, 9%d to lOd per lb. Rolled liams, ll%d per lb. Cooked ham, 1/ to 1/1 per lb. Cooked pressed hams, 1/3 per lb. Bacon sides, 7%d to B'Ad per lb. Rolled sides, 9%d to lOd per lb. Middles, 9%d to lOd per lb. Shoulders, 5%d per lb. Rolled shoulders, 7%d to 8d per lb. Lard, bulk, Od per lb. Pats, 7d per lb. Linseed. —Whole, 10/6 per cwt. Linseed Meal.—l 7/3 per 1001b. Flour. —Local, 2001b sacks, £15 1/6 per ton; 100's, £10 2/6 per ton; 50s, £16 12/6 per ton; 25's, £17 7/6 per ton; 12%'s, £18 5/ per ton; 6%'s, £18 15/ per ton. Malt. —Crushed, 11/9 per bushel. Whole white, 11/3 per bushel. Whole black, 13/ per bushel. Twines.—Seaming, first quality, 2/6 per lb. Second quality, 2/3 per lb. Binder, 094 d per lb. Peameal. —10/6 per 1001b. Linseed Oil Cake Nuts: 12/6 per 1001b. Bluestone: 36/3 per cwt.