MARKETS AT A GLANCE

Auckland Star, Volume LXV, Issue 25, 30 January 1934, Page 4

MARKETS AT A GLANCE

TRADE GENERALLY GOOD.

RESIN MARKET ADVANCING.

TURPENTINE FIRM. "Aucklaud Star" Office, Tuesday, January 30. Wholesale turnover was maintained at good volume during the whole of last week and merchants following the holiday yesterday opened up to quite good business to-day. It seems fairly definite from the quantity of mail orders that have come to hand during the past few days that trade will be well maintained throughout the present week. General News.

Latest information to hand in regard to dried fruits indicates that fairly substantial advances have been advised in Californian pack raisins, particularly in carton packings, and in some cases owing to the high costs merchants seem rather diffident about placing further business for tho time being. A now health meal is now being offered in 21b packets, 71b bags, and also larger packings. Prices in comparison to other brands seem unusually attractive aud good business should result. Owing to the heavy advances in oversea tea markets, local offerings of bulk teas are again listed at advanced rates, although present selling rates do not show the same proportion ot advance as oversea costs. Loose pack dates are in short supply at present, with merchants anxiously waiting on further consignments coming to hand. Welcome supplies of well-known brands of English herrings in sauce have been received during the week and there is a heavy demand. It is not anticipated that stocks will be sufficient to cope with the sales that will be experienced between now and Easter, when the demand is always unusually heavy. Most merchants report a heavy demand for all canned fish. Favourable quotations have been named on Tasmauian mutton birds during the week, but owing to the lateness of the season merchants arc not inclined to order heavily. Advices just to hand state that there is a general all-round scarcity of maize, telegraphed reports received from the Bay of Plenty yesterday stating that there, is nothing available at present. Mail advices from overseas state that the herring fishing this season has been a good one. and consequently most packers are having no difficulty iu executing orders jn full. Red herrings have been much in demand this year and quality is said to be exceptional. This year a new line is being placed on the market of herrings in mustard sauce, and it is expected to find a ready sale. The local cheese market is fractionally easier, merchants' offerings being J /«d per lb lower for most brands. All types of jars are now selling well. There is a good demand for jelly and jam jars, beside the usual screw top preserving. Rubber rings are also finding a ready sale, and as far as can be gauged at the moment stocks will be ample for requirements this year. Last season sales were so heavy that three-quarters of the way through the season supplies became very short. Overseas arrivals to hand during the past week comprise powdered magnesia, Epsom salts, bulk tea, sugar of milk in cartons, Alaska Sockeye salmon, English meat extract, English herrings,, fluid magnesia, English safeties, Australian fine salt in bulk and 51b bags, Norwegian sardines in 1/16's and J 4's, English custard powder, w;alnut meat in halves and pieces, macaroni, vermicelli and spaghetti.

Resin. Up to the middle of last week the American resin market had heen advancing steadily. Late cables, however, received during the week-end advise a slight reaction and prices are now reduced to the extent of 4/0 per ton on "G" and 5/ per ton on "N." French "N" grade, on the other hand, still continues to firm, an advance of 5/ per ton being recorded during the week.

Turpentine Quotations for Pine Tree turpentine have been steadily advancing for the post mouth and cables just to hand notify a further increase of 'A<\ per gallon. The market generally is very firm and prices are not expected to ease much before March next, when the new crop becomes available.

Ceylon Tea. At the usual weekly sale of Ceylon tea, held at Colombo on the 23rd instant, 3550,000 pounds weight was placed under offer. This quantity was nearly 1,000,0001b in excess of the previous week s sale, but notwithstanding this all grades sold at advanced rates. Quality was generally good, with up-country sorts tieularly fine. Growers report that unsettled weather has been experienced over the past fortnight, and they expect a falling off in quality and smaller offerings. The result of the sale showed a strong general demand for all kinds, with the exception of bright, light liquoring broken Pekoes. London buyers were operating freely. Actual price alterations showed an advance of 94d per lb on commons and price broken orange Pekoes, Id per lb on plaiu 8.0.P.'s and l%d per lb on first classic broken Pekoes and finest broken orange Pekoes. Exchange was quoted at 1/6 8-32.

Barcelona Nuts. A weaker market is advised in cables received during the week for Barcelona nuts, prices being reduced 4/6 per cwt. Sicily Almonds. A cable just to hand states that the market for Sicily filberts is firmer to the extent of 5/6 per cwt.

Rangoon Rice. Some immediate offers for Rangoon rice for March-April shipment are favourable to buyers to the extent of 10/ per ton in comparison to rates ruling during the latter part of la6t year. The last landed cost was fairly high, and it is anticipated that prices for the next delivery will be much more favourable.

Peanuts. Latest advices state that Chinese peanuts in shell are remaining firm at last ruling rates. Peanuts have also shown some firmness during the last few weeks, and buyers are now operating for next direct steamer delivery. Stocks are considered fairly ample just at the moment.

Sago and Tapioca. There has been very little activity in the market for Penang sago and tapioca during the past week, tbe market generally being steady and prices remaining unchanged. Very little buying has taken place so far, buyers preferring to hold off for a while yet in anticipation of being able to purchase at a more attractive level for the next direct steamer sailing.

Pepper. Pepper prices are again easier to the extent of Y*d per lb all round. At the beginning of the year the market took a very sharp advance, the reason for which is not known at present. Prices at today's rates are still considerably above last year's level and buyers are still inclined to hold off.

Pineapples. Pineapples have remained fairly steady during the week, fractional reductions being notified on l%lb sliced flats of %d per dozen and l%lb cubes second quality a /6d per dozen. On the other hand l'/ilb sliced tails first quality are firmer to the extent of IM per dozen. A small quantity of business has already been put through, but the main buying is not being considered at present.

Almonds. A firm market is noted in ground almonds in cables iust received from London, new prices showing advances of 3/ per cwt. Bird Seed. Recent cables to hand from London advise that the market for Argentine canary seed is unusually firm. Quotations have just been named for now crop for March/April shipment, and are about 7/6 per ton higher than the lowest level reached last season.

Brazil Nuts. Cables from London state that best Para Brazil nuts are now being offered at a reduction of 1/6 per cwt for spread shipment March/ April/May,

Lima Beans. Cables received from London advise that Madagascar lima beans are firmer to the extent of 1/0 per cwt. Indications are that the market will continue firm and further advances are expected. Prunes. In-cables just to hand Californian prunes are being offered at reductions of from 1/6 to 3/ per cwt, according to size. Raisins. Cartons are showing more firmness, choice seeded muscats in lOoz packets showing advances of 4/6 per cwt. Natural Thompson's seedless cartons on the other hand are showing a fractional weakness. Desiccated Coconut. After remaining at a very low level for some time, the market has shown a tinning tendency and cables now received record slight advances. Even at the revised quotation, prices arc quite attractive and further business has been cabled for immediate shipment. As previously advised shippers are not willing to accept business beyond March. Wholesale Current Prices.

Butter.—First grade factory, booked lOVid per lb, and lOd per lb for prompt cash; second grade factory, booked, OVad per lb, aud 9d per lb for prompt cash; farmers' separator, 8d per lb. Cheese.—First grade factory size (80's). 7!4d per lb net; best quality medium (40's), 7%d per lb; first quality, VAA per lb; loaf. 8d per lb; tinfoil, Vilh pats, 1/3 per lb; bars, 1/ per lb. Honey.—Bulk white, 4d per lb; light amber, 3%d per lb. Bacon.—Ham, 10% d per lb; rolled ham, 1/ per lb; cooked ham, 1/4 per lb; cooked pressed ham, 1/0 per lb; bacon sides, B%d per lb; rolled sides, lOMsd per lb; shoulders, IVzd per lb; rolled shoulders, 9d per lb; middles, WM to lid per lb; lard, bulk 7d per lb. pats 8d per lb. Linseed.—Whole, 25/ per cwt.

Linseed Meal.—2o/ per 1001b. Flour.—Local: 2001b sacks, £14 12/6 per ton; 100's, £15 10/ per ton; 00's, £16 per ton; 25's, £16 15/ per ton; WA's, £17 2/6 per ton; OVi'fi, £1S 2/6 per ton. Malt.—Crushed, 11/3 per bushel; whole, white, 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. Peameal.—lo/ per 1001b. Bluestone.—32/6 per cwt. Linseed Oil Cake Nut?.—l 2/3 per 1001b.