MARKETS AT A GLANCE.

Auckland Star, Volume LXIII, Issue 259, 1 November 1932, Page 4

MARKETS AT A GLANCE.

TRADE WELL MAINTAINED. CEYLON TEA FIRMING RAPIDLY. ALMONDS MARKET ADVANCING. "Auckland Star" Office, Tuesday, November 1. Due to the holiday on Monday merchants were exceedingly busy during the whole of laet week. This applies particularly to dispatch departments, who expei-ienced a certain amount of disorganisation due to the shorter week. Merchants were also very busy in completing the final 25th deliveries, which are now practically all cleaned up. Business opened yesterday to fair volume, although it id expected that this will lighten up as the week progresses. General News. Particular interest is being taken in merchants' otters of tea just at present owing to the very firm position of the Ceylon market, which gives every indication of moving higher. Present stocks are being based on favourable buying, and represent, a good opportunity for the retailer to avail himself of any bulk requirements. By the liangitiki from London merchants received consignments of l-16th sardines as well as Glauber and Epsom salte. By the same vessel fairly substantial shipments of cherries in brine came to h.'uid for manufactures, and as in maiiy instances offerings are landing at;' higher costs than formerly prices of the completed article will show further increases. Within a fortnight or three weeks stocks of crystallised should be available for distribution to the retail in sufficient supply to meet immediate requirements. Ketajlers who booked their supplies early in the year will, in view of the present strong position of the market, be in an exceptionally good position regarding prices. Merchants also received this week a full range of prunes in various sizes, which have come to a bare market. Unfortunately the exchange position is affecting landed costs somewhat, and prices therefore will show slight increases over previous rates. Amongst consignments to hand' J from Liverpool by the Port Dunedin merchants received lewts bulk fine salt and iodised salt in s's, coarse salt in 12's, and also lewts, bulk cornflower, bi-carbonate of soda in 1, 2 and 3cwt kegs, cream of tartar, caustic soda in various sizes, insect powder, etc. By transhipping vessel from Sydney supplies of cream of tartar, chewing gum, coconut, ricej tea, bulk and loaf sugar also came to hand. By the Port Gisborne, matches, stoned dates, Worcester sauce, tinned table and bag table salt, gravy browning, etc. Jam apricots have been selling well this year, with the result that stocks are now getting down to a very low level, with no prospect of further supplies coming forward this year. Second grade Singapore pineapples are also getting rather short, and it is expected that merchants' available supplies' on this grade will be well cleaned up before the arrival of the new lot by the direct steamer in January next. Of interest to the trade is the advice that the first of the season's supplies of Amalia and Patras Greek currants have just arrived, the i».ain portion of which is being distributed against merchants' orders. ~ In readiness for the coming preserving season's trade merchants are already receiving supplies of preserving jam and jelly jars which will be shortly distributed against storekeepers' indents. Ceylon Tea. At the usual weekly sale of Ceylon tea held on the 25th ultimo, 2,500,0001b was placed under offer, quality of most offerings remaining . unchanged. The result of the sale showed a strong general demand with all grades showing further advances.. Commons advanced l%d per lb Price Broken Orange Pekoes l%d per lb plain 8.0.P.'s l&d per lb, First Classic Broken Pekoes Id per lb, and fine broken Orange Pekoes %d per lb. Exchange was quoted at 1/6 5-16. Next week's sale will amount to 1,850,0001b. One of the reasons given for the "present increase in this market is the advice .of a proposal to restrict the output from the principal tea exporting countries. Providing this restriction is adopted it will probably be some little while before the stock position here will be affected to any extent ae stocks are fairly well held at the moment.

Ground Almonds. Ground almonds have been advancing steadily, and the market at the moment is very firm, the new rates advised in cables just to hand showing an increase on last rates of 7/ per cwt: Sicily Almonds. The market for Sicily almonds is also advancing steadily, and is now showing an increase of £15 per ton over values ruling a few weeks ago. Cream of Tartar. English cream of tartar is being quoted on a more attractive basis just now, a well known line of English manufacture in a cable received during the past week being offered at a reduction of £3 per ton. Although the bulk of cream of tartar ie at the moment coming from Australia, there ie still a preference for certain brands of English, so that additional business will probably go through at the reduction. Australian shippers have advised that latest quotations are unchanged, and.are offering to extend their booking at present rates up to February, 1933, shipment. Acids. Quotations on both citric and tartaric acid are particularly low just now, and on the quotations just named citric is being quoted cheaper than tartaric, which is very unusual. In another quarter one house advised the receipt of a cable of a reduction of £3 10/ in a well known brand of tartaric, which brings prices on these lines down to a very low level indeed. Resin. The market on American resin is again easier, prices now being listed at 5/ per ton reduction both for "G" and "N" grades. "G" grade is the only line imported from America to-day, but little interest is being experienced at the moment, mainly on account of the low price level ruling on the American dollar. Peanut Kernels. With the increasing demand that is being experienced for peanut kernels as against peanuts in shell, fairly substantial quantities come forward for every direct steamer, merchants filling their requirements, between these vessels by obtaining small supplies via Sydney. This week cables have been received advising a further slight easing in the market for Java kernels of 5/ per ton for NovemberDecember direct steamer, and business is now being done at the alteration. Mullet. On account of a poor catch the quantity of mullet canned this season proved considerably under the reservations made by merchants, and pro rata deliveries had therefore to be made. Local sales to the stores this year have not been quite so heavy, but as packers' deliveries were smaller than usual it is anticipated that stocks will be well cleaned up before January-February nest, when the season's packing begins. Pepper. Peppers are still showing gradual declines, and this week a further reduction of %d per lb is advised. In view of* the duty now being imposed on spices further supplies of Muntok will no longer be imported. Mail reports advise that the pepper market hae been ruling rather quiet, and prices have eased slightly. In the opinion of shippers it is most extraordinary that the very big arrivals of new crops which continue should not uave depressed the market. It was the general , opinion that with the shrinkage in world

buying power and crops estimated as fully large ae last year's, prices would ease to perhaps record low levels upon arrival of crops. Upon this position dealers and exporters, almost without exception, ran a short account in peppers for forward shipment, but instead of declining, prices actually advanced, the heavy arrivals not having affected the market. General opinion now appears to have undergone a change, and it is thought that dealers and exporters are now more inclined to run a long, rather than a short, position. The argument appeal's to be that at the present rate supplies of pepper are arriving it will not be very long before the bulk of new crops are marketed, and that as time goes on and less supplies are available prices may be expected to rule at a higher level. Pepper prices even now are not exactly high, and it is suggested that it may be worth while to consider covering forward requirements before supplies tend to become too scarce. Nutmegs and Mace. Nutmegs in one quarter ehow no alteration, but from another house a slight firmness is evinced with fractional alterations being advised. In mace prices are a little lower, being recorded at VzA per lb reduction, but are etill considered on a high market in comparison to quotations advised earlier in the year. Mail reports indicate that hardly any mace has arrived for some time, with the result that shippers have been reluctant to quote, although a limited supply of grinding and broken mace has been available. Nutmegs also are not arriving eo freely as formerly, and sales are being made more or less from dealers' stocks. In such circumstances it is considered that prices are more likely to advance than recede. Sago and Tapioca. Sago and tapioca have shown no alteration during the week, and the market ifquiet. Buyers are in-.lined to hold off on their buying for tne 'next steamer to eee if it is at all possible that this market will reach the low level of buying that was finalised for the last vessel. Mail reports indicate that the market is steadily declining, mainly clue to the anticipated improvement in the Indian demand not eo far materialising, buying from this quarter being only on a very limited scale. Europeans are said to be displaying failinterest at the lower level of prices, and at the moment dealers appear to be reluctant to lower their prices any further, although the future trend will depend upon the Indian demand. At this period of the year the Indians usually buy very heavily, but so far they have not bought any appreciable quantity, and dealers are wondering whether this year is going to prove the exception. Should the Indian demand show any .sign of improving Penang dealers will be sure to advance their prices, but as demand from this quarter is quiet it is expected that values will go down still further. Wholesale Current Prices. Butter.—First grade factory booked, 1/1% per lb and 1/1 per lb for prompt cash; second grade factory booked, 1/0% per lb and 1/ per lb for prompt cash; tarmers separator, lid per lb. Cheese.—First grade factory export size (80s), 6d to 6V2d per lb net; best quality medium (40's), 6&d to 7d per lb; first quality, 7%d per lb; loaf, 7%d to B%d per lb; tinfoil, %lb pats, 1/3 per lb; bars lid to 1/ per lb net.

Honey.—Bulk white, per lb; light amber, 4%d per lb. Bacon.—Hams, OMsd to lid per lb; rolled hams, 1/1 per lb; cooked ham, 1/1 to 1/3 per lb; cooked pressed hams, 1/5 per lb , bacon sides, 7%d to B%d per lb; rolled sides, D%d to 10d per lb; middles, o%ii to 10d per lb; shoulders, 6&d per lb; rolled shoulders, BMsd per lb. Lard, bulk, G!4d per lb; pats, 7%d per lb. Linseed.—Whole, 16/3 per cwt. Linseed Meal.—l 6/11 per 1001b. Flour.—Local: 2001b sacks, £15 7/6 per ton; 100's, £10 2/6 per ton; 50's, £16 12/6 per ton; 25'e. £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 Ib; second quality, 2/3 per lb; binder, 59/ per cwt.

Peameal.—lo/ per 1001b. Bluestone.—36/3 per cwt. Linseed Oil Cake Nuts.—l 2/3 per 1001b