MARKETS AT A GLANCE.

Auckland Star, Volume LXIV, Issue 31, 7 February 1933, Page 4

MARKETS AT A GLANCE.

ACTIVE TRADING CONTINUES.

LOWER PRICES ON FLOUR,

SHARP ADVANCE SICILY ALMONDS

"Auckland Star," Tuesday, February 7, 1933. Wholesale grocery merchants report that although the heavy bookings for February account have now been delivered, brisk trading is still being experienced, undoubtedly due to continued speculative buying by retailers. The resultant shortages of many lines is making trading most difficult, until the Government's exchange policy ie fully known. Meanwhile notification of advanced prices from manufacturers and importers are of daily occurrence, indicating that a general all round firming of prices may be anticipated. General News. A small consignment of Sicily almonds which came to hand last week arrived to a bare market, and notwithstanding tne increased exchange costs will prove insufficient to meet the demand. Contrary to the present upward tendency of pyices, the announcement of a reduction of 15/ , per ton in the price of flour will prove most welcome to the general public. During the past week agents for a wellknown imported line of infant's food and tooth paste advised advances on both these lines, the increases being due to the higher exchange now ruling. For the same reason advances have also been recorded on a popular line of meat and fish paste, health salts and all grades of salmon. Of interest to the trade is the announcement by one local manufacturer of a new line of smoking tobacco, which is attractively packed in lib cannisters, and in view of the reasonable rate at which it is being offered should prove very popular with the consumer. Arrivals from overseas have been rather quiet during the past week, the main consignments to hand being supplies of seeded and seedless packet raisins, bulk raisins, prunes, etc., ex the s.s. Monterey from San Francisco, all these lines landing at higher costs. Also by the Hauraki, which arrived at this port on Friday last, merchants received consignments of powdered borax and peanuts in shell.

Sicily Almonds. Cabled advices just received advise that the market for Sicily almonds is firm, an advance of £5 per ton being recorded during the past week. Madagascar Lima Beans. A further reduction of 10/ per ton for April-Mdy shipment has just been cabled by London shippers of Madagascar Lima beans. The first shipments of the new crop beans are not expected to arrive here until early in April. Brazil Nuts. Latest quotations for Brazil nuts show a reduction of 2/ per cwt, but notwithstanding this prices still remain at a very much higher level than opening rates for last year. Ceylon Tea. At the usual weekly sale of Ceylon tea held at Colombo on the 31st ultimo, the total quantity placed under offer amounted to 1,500,0001b. A strong general demand was evidenced throughout the sale, practically all grades recording advances, although there was a slight falling off in quality. Actual price alterations showed .an advance of %d per lb on Commons and Price Broken Orange Pekoes', %d per lb on plain 8.0.P.'5, and %d per lb on First Classic Broken Pekoes, while fine 8.0.P.'s remained firm at last ruling rates. Exchange remains unaltered. The quantity for next week's auction is expected to total 1,800,0001b. Latest cabled information from London reveals that all members of Ceylon associations, both located in Ceylon and the United Kingdom, and members of Indian associations in the United Kingdom (who in turn control over 95 per cent of the gardens) have approved of the idea of restriction, leaving only a small percentage of the local Indian owners to register their views. The Dutch interests in both Amsterdam and in Java have already approved, and the proposed date from which the scheme is to operate is April 1, 1933. Shipments of tea from the Mid-East, excluding China and Japan, • during 1932 are likely to finish up at 830,000,0001b, and as it seems that 1933 will not exceed, say, 700.000,0001b in twelve months, should give sufficient strength for prices to show producers reasonable profits, according to seasonal quality as per values in force previous to the recent slump in prices over the last seven or eight months. Pepper. Quotations just to hand by cable advise that peppers are again easier, a decline of %d per lb being recorded during the week. The price of pepper is now at a very low level, and additional business has gone through for the March-April direct steamer. Nutmegs and Mace. Nutmegs are remaining steady at last ! ruling rates, there being no alteration to record, while mace is showing a weaker tendency, and is easier to the extent of ' %d per lb on first grade, and Yid per lb < on broken. 1 Pineapples. There is practically no alteration in the price of pineapples this week, all lines i remaining steady at last ruling rates, and I at the moment there is very little interest being evinced in forward buying. Substantial supplies were brought forward to this market by the last direct steamer, and owing to the present seasonable demand now prevailing have met with a ready sale. Fair quantities were purchased before the exchange advances, but will land at higher figures as a result of this alteration. Sago and Tapioca. Latest cables received advise a fractional increase on sago, while prices for tapioca remain unchanged. Sago flour has recorded a slight advance. Mullet. Agents for a well-known brand of Dominion packed mullet that has sold extensively on this market for a number of years, advise that packers have commenced canning operations, and are offering to cover merchants for their total requirements for the year at favourable rates. Deliveries which will be made as packing proceeds, spread till July, 1933, are subject to pack, but it is anticipated that there will be sufficient supplies to meet the estimated demand.

Cloves. Quotations just to hand for No._ 1 Zanzibar cloves for February-March shipment are approximately Id per lb lower than the rates ruling at the end of last year. The market, however, is reported to be firm at the lower price on offer, and an early advance is expected. Dates. Although prices generally for all grades of dates remain firm and unchanged, a specially low quotation for March shipment was made by one shipper during the past week, but as most merchants had previously booked their requirements for this delivery, only limited business was placed at the, lower quotation. Local stocks are reported to be still fairly heavy, as, owing to the plentiful supplies of fresh fruit now available, sales since the New Year have been somewhat restricted. Salt. Due to the increased exchange, prices for all grades of English salt are now considerably higher than formerly, and with the keen demand now existing for summer requirements local stocks are not heavy. Further supplies of both coarse and fine in both cwt and 51b bags, which are due to arrive by the s.s. Matakana about the 16th instant, will therefore be very welcome. Latest quotations for Australian salt are also showing corresponding advances.

Barcelona Kernels. Latest cables to hand advise a reduction in the price of new season's Barcelona kernels, the market now being 12/ per cwt below the opening rates named last August. Stocks on hand are very light, and further supplies are not expected to arrive' until March next. Washing Soda. Due to the recent inci'ease in exchange, quotations on soda crystals (washing soda) have 6hown an advance of 15/ per ton during the past week. Although this commodity is a local product the primary product (soda a6h) has to be imported for the manufacture of the finished article, which accounts for the increase in price. Harioot Beans. Prices for Haricot beans have been named for March-April direct boat at quite attractive rates, and good business is anticipated on this line. Resin. Late cables received indicate that the market for resin is remaining steady, latest quotations on American remaining unchanged. French shows little movement, the only alteration to report being a reduction of 2/6 per ton on N grade. Bulk Cornflour. Cable advices received advise that an increase of £2 per ton has been recorded on bulk cornflour, which is imported from Scotland in large qifantities for this market. Due to the favourable price at which bulk is offered in comparison to the packet variety, quite a demand has been created for the former type lately, which is proving popular with the consumer. Wholesale Current Prices. Butter.—First grade factory, booked, ll%d per lb, and lid per lb for prompt cash; second grade factory, booked, 10% d per lb, and lOd per lb for prompt cash. Farmers' separator, 9d per lb. Cheese. — First grade factory size (80's), 6%d to 7d per lb net; best quality medium (40's), 694 d to 7%d per lb; first quality, 7d per lb; loaf, 7%d to 9d per lb; tinfoil, %lb pats, 1/3 per lb; bars, lid to 1/ per lb net. Honey.—Bulk white, 4%d per lb; light amber, 4%d per lb. Bacon.—Hams, 9%d 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; roiled sides, 9%d to lOd per lb; middles, 9%d to lOd per lb; shoulders, 6%d per lb; rolled shoulders, B%d per lb; lard, bulk, 6%d per lb: pats, 7%d per ib. Linseed.—Whole, 16/3 per cwt. Linseed Meal.—l 6/11 per 1001b. Flour.—Local, 2001b sacks, £14 12/6 per ton; 100's, £15 7/6 per ton; 50's, £15 17/6 per ton; 25's, £16 12/6 per ton; 12%'s, £17 10/ per ton; 6%'s, £18 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, 58/ per cwt. Peameal.—lo/ per 1001b. Bluestone.—36/3 per cwt. Linseed Oil Cake Nuts.—l 2/3 per 1001b.