MARKETS AT A GLANCE

Auckland Star, Volume LXIV, Issue 191, 15 August 1933, Page 4

MARKETS AT A GLANCE

WHOLESALE TRADE IMPROVES SALMON PRICES ANNOUNCED. RAISIN MARKET FIRM. "Auckland Star" Office, Tuesday, August 15. I Since the beginning of the month wholesale merchants have experienced fairly satisfactory business, volume being quite up I to expectations ior this time of the year. No doubt this increase has been to a. great extent caused by the interest taken in both bulk and proprietary brand teas. arc expecting trade to show a further increase toward the end of the week, as storekeepers arc already commencing to send in their orders for September delivery, which commence on Tuesday next to all towns served by rail, and in the town area on the following Thursday, the 24th instant. General News. Canadian packers have announced prices for new .season's canned salmon. On au average the prices are, on a basis of today's conversion, on about a par with opening rates for the previous season. A new line of tobacco in 2oz tins and 31b canisters, previously confined to the town area, is now available to the whole of the North island. A welcome line to this market is the arrival of the first of the season's shipment of extra fancy long grain Mexicau rice, this grade of rice having a strong appeal to a certain section of the trade. Small consignments of herrings in sauce have arrived to a bare market. This line was in short supply for some weeks, and merchants have been anxiously waiting on this arrival. There in a very great shortage of sago just at present, and as the main direct shipment is not duo until some time after the middle of next month, any available stocks are at a premium. A well-known brand of carton seedless raisins has been in short supply during the week, but a fresh shipment is just about due, which will overcome the present difficulty. There has been a considerable demand for red herrings this year and stocks are very low just at the moment. Another consignment of Californiau golden bleached raisins has just come to hand. This .raisin has been in considerable demand this year, and the present arrival is very welcome. There is a scarcity of English safeties at the moment, with further supplies expected to arrive here about the 21st instant. Indian split lentils are in short supply, with no possible chance of further stocks until the arrival of the Narbada. Java kernels are also short, further supplies will be here next month. The winter season lias been responsible for a considerable demand on merchants' offerings of bulk cocoa, which have been very favourable. Fairly substantial consignments arrived last month, but were quickly absorbed. Further shipments are now to hand sufficient to take care of storekeepers' immediate requirements. A new line now on the market is a crustless cheese in Boz packets, offered by one of the well-known cheese distributors. Prices are slightly lower than competitive brands of a similar type. A local manufacturer of baking powder and other lines has notified the trade that they are still continuing the bonus offer of thirteen to the dozen on all their lines. Rosin. The resin market in both French and American has shown continual fluctuations during the past few weeks. Advices received a week ago indicated an advance on American grades, but latest cables received this week show a reaction in previous quotations to the extent of 5/ per ton on "G" and 4/6 per ton on "N." French, on the other hand, has shown a decidedly firmer tendency, latest quotations on "N" showing an advance of £1 7/G per ton. Sago and Tapioca. Sago and tapioca have remained firm at last ruling rates. Buying has now finished for this steamer, the Narbada being scheduled as due to leave Penang yesterday and Singapore to-morrow. Epsom Salts. Bulk Epsom salts is now being quoted to arrive, the demand being at its highest from now on, due to the commencement of the dairying season. Further consignments are expected to arrive during the next few weeks. Prices are about 10/ per ton higher than those ruling at this time last. year. Nutmegs and Mace. Nutmegs have been fairly steady during the week, the only alteration being a reduction of %d per lb on both 110's and broken. Mace remains unchanged at last ruling rates. Ceylon Tea. At the usual weekly sale of Ceylon tea held on the Bth instant, 1,750,0001b was placed under offer. equality generally was slightly better, and the result of the sale showed that commonest, commons and low mediums were withdrawn heavily, mainly on account of temporary declines on these gradea. Good kinde were strong, with finest quoted at dearer raf;es. Actual price alterations showed a decline of J /zd per lb on Commons. Price Broken Orange Pekoes, %d per lb, plain 8.0.P.'e and First Classic Broken Pekoes were quoted firm, and Fine 8.0.P.'e were advanced l M per lbi The decline in the lower grades is only temporary. Next week's sales is expected to total 1,650,0001b. Mail reports dated July 10 advise that the policy of restriction has had an appreciable effect on the supplies brought to auction during the previoue month, when only 7,750,0001b were offered, as compared with 14,500,0001b for the previous mouth, and 9,250,0001b for the corresponding month of last year. Shipments to the United Kingdom, as will be noticed by the figures given below, were considerably down, and for the first six months of the year show a decrease of some 8,000,0001b as compared with the first six months of 1932. The total shipments from Ceylon for the' first half of the current year are some 125,644,1971b, ae compared with 136,966,6821b, and 139,390,7161b respectively for the corresponding half-years of 1932 and 1931. As is usual for the time of the year, quality has shown a distinct all-round improvement, this being particularly noticeable on teas produced in the higher elevation districts. Some nice teas are now coming forward from Nuwera Eliya #nd Uva provinces, but so far there has been no real competition for them, and prices in consequence have been somewhat disappointing. Some wonderful values are now obtainable in high-grown 8.0.P.'s between 60 and 65 cents, and with low-grown 8.0.P.'s selling at 52 to 55 cente, the values to be had in high grown sorts is obvious, and they cannot continue selling at this comparatively low price. Prices are likely to continue to advance for all grades of tea during this month and next, and a market average of about 70 cents is confidently looked for in the near future. From the producers' point of view there has been a pleasing increase in the average prices, the market for these during the month advancing from 45 to 55 cents, the main average being 50% cents, as compared with 33% cents for June, 1932. Supplies for the remainder of the year, as far as it is possible to judge, are likely to be insufficient to meet local requirements, and already Australian buyers have been obliged to operate in London to cover their requirements on low-grown teas. Distribution of Ceylon tea for the first 5% months of the year show a decrease to Great Britain of 7,505.7631b, Australia an increase of 501,0981b. and New Zealand an increase of 530,9401b. The total exports from Ceylon showed a decrease of 19,249,3241b. Pineapples. The market for Singapore pineapples is generally steady at last quotations, with the exception of the following reductions:—l ] /&lb sliced flats, Vid per dozen; iVslb sliced tails, %d per dozen; and 2 1 /slb sliced, l',6d per dozen. The only business put up last week covered pepper and pineapples to take care of t merchants' last-minute requirements.

Turpentine. Tho market for pine tree turpentine lias also shown some fluctuation, a 6harp decline of 2%d per gallon being recorded in recent cables. Bulk Raisins. Cable advices just received indicate an advance of (Kl per cwt on Thompson's naturals, both new and old season's. Advice lias also been received that prices are expected to advance shortly on account of the fact that the raisin crop generally has been damaged by heat. Peppers. Peppere were a shade easier during the week, black was quoted unchanged, but Singapore white and Sarawak white were both listed at %d per lb reduction. Olive Oil. The market for olive oil has shown a distinct firming tendency lately, latest cables advising an increase of 1/4 per gallon. Carraway Seeds. The market for Dutch carraway seeds has shown a (inning tendency, latest cables showing an advance of 4/ per cwt. Alaskan Salmon. New prices have been named for Alaskan salmon this week, and show 6d per case decrease on previous quotations. Brazil Kernels. Tho market for Brazil kernels is firm, latest prices allowing an increase of Id per lb. Norwegian Sild. Further mail information in connection with Norwegian sild state that there is not the slightest doubt that legislation will be passed to come into force about September-October, with the object of giving the fishermen better prices for their catch, which will undoubtedly mean higher prices overseas. Further advices indicate that the new season's Brisling fishing and packing started on June 1. Tho fishing has been very rich, and the quality of the fish very good. The majority of fish caught have been rather large, so, contrary to usual at this time of the year, very little cross pack has been packed, and very little, therefore, will be packed this year. Wholesale Current Prices. Butter.—First grade factory, booked, ll%d per lb, and lid per lb for prompt cash; second grade factory, booked, lQMsd per lb, and 10d per lb for prompt cash; tanners' separator, 9d per lb. Cheese.—First grade factory size (80's), 7d per ]li net; best quality medium (40's), 7%d per lb;. first quality, 7d per lb; loaf, 8d per lb; tinfoil, %lb pats, 1/3 per lb: bars, 1/ per lb. Honey.—Bulk white, 4d per lb; light amber, 3?id per lb. Bacon.—Ham, 10d to lid per lb; rolled bam, 1/1 per lb, cooked ham, 1/3 per lb; cooked pressed hams, l/o per lb; bacon sides, B%d to Od per lb; rolled tides, 10d to lid per lb; middles, 10d to lid per lb; shoulders, 7%d per 1b; rolled shoulders, OMid per lb; lard, bulk, 7d per lb; pats, 8d per lb. Linseed. —Whole, 16/0 per cwt. Linseed Meal.—l 7/6 per 1001b. Flour.—Local: 2001b sacks, £14 12/6 per ton; 100'b, £15 10/ per ton; 50's, £16 per ton; 25's, £16 15/ per ton; 12%'s, £17 2/6 per ton; £18 2/6 par ton. Malt.—Crushed, 11/3 per bushel; whole wliite, 11/ per bushel; whole black, 12/6 per bushel. Twines. —Seaming, first quality, 2/6 per lb; second quality, 2/3 per lb; binder, 59/ per cwt. Peamea 1.-10/ per 1001b. Bluestone.—36/3 per cwt. Linseed Oil Cake Nuts.-12/3 per IOOIb.