MARKETS AT A GLANCE

Auckland Star, Volume LXVI, Issue 48, 26 February 1935, Page 4

MARKETS AT A GLANCE

TRADE IMPROVEMENT. LQOAL PACK CANNNED PEAS SHORT. LAUNDRY SOAP ADVANCED. "Auckland Star" Office, Tuesday, February 26. Wholesale grocery merchants report a general improvement in business. Bookings for March account have been coming to hand for the past week in good volume with the result that both dispatch and packing departments have been extremely busy and are likely to continue so throughout the rest of this week. General News. An active demand is still being experienced for salmon, sardines and all varieties of tinned fish. Further supplies of salmon came to hand during the week and stocks now available are considered ample for merchants' ' present requirements. Local packers advise an increase in the cost of canned apricots during the week of a further 1/ per dozen. Considerable interest has been evinced by most storekeepers in merchants" offerings in both Australian and local pack canned fruits, as there is every evidence that supplies will _ not be sufficient for storekeepers' requirements over the whole of the season. Following on the firm position of the tallow market which was advised last week, soap prices have advanced from £2 to £5 per ton, according to grade. Third grade, £5 per ton; first and second grade, £2 per ton. Lima beans have been selling extremely well of late, with a result that some merchants are advising shortage of stocks, and in order to augment supplies, small supplies have been brought from the South. Exceptionally keen interest has been evinced during the last 14 days in merchants' forward offerings on general lines. In particular, heavy bookings were recorded on soaps, dried fruits, canned fruits and fish. The general trend of markets to-day is in an upward direction and it is apparent that storekeepers are watching the position very closely and where possible booking their seasonable requirements now against a possible rise in the future. A reduction in the price of locally-made playing cards is advised of 9d per dozen on third quality and 6d per dozen for second quality. Packers of a well-known brand of peanut butter have introduced a new large size. A new low-priced line of loz packet of tobacco in both standard and fine cut is being introduced to this market and is expected to be very popular. A reduction of 1/10 per lb is also advised in the selling price of another line of 2oz tins. Owing

to a shortage in the pack of local canned peas, merchants' orders are being rationed and they are receiving only about 50 per Cent of their requirements in the small Size and 68 2-3 per cent on the larger size. Arrivals from overseas during the week comprise shipments of English cigarettes, meat extract, fish paste, etc.. fine salt, caustic soda, bi-carbonate soda in lewt and 2cwt kegs, fluid magnesia, custard powder, herrings in sauce, etc. From America, sweet corn, salmon in Pinks, Coboes, Chums and Sockeye grade, bulk cornflour, starch, Sib bags table salt, S's iodised salt and %'s sardines. Transhipments from Sydney, bulk tea, desiccated coconut, Sicily almonds, macaroni, plain and one-crown sultanas, breakfast foods, bulk, loaf and carton sugar, etc. From Southern ports, sugar of milk, laundry soap, baking powder, lima beans, proprietary brand tea, cough emulsion, wax matches, whiting, cigarettes, pipe and cigarette tobacco in various packings, malt extract, bulk malt, oatmeal and rolled oate, etc. A well-known line of cleanser that has been on the market for a considerable number of years has now been further popularised to the public by the offer of miniature money boxes made up with the same design as the cleanser, ■which are being given away free. Prunes. Opening prices for Australian prunes were named toward the latter end of last week and are stated to be quite competitive with Californian offers. This season the Australian Board is offering all packings from 80/90 up to 40/50 in two grades, there being an approximate difference of 2/ per cwt between each grade. Packers state that 40/50's are definitely in short supply and it is doubtful that they will be able to execute merchants' full require- | ments in this size. Shipment is offered spread to Juno next. Pepper. The Singapore market for pepper in cables received during the week is demoralised as a result of the financial trouble in London, consequently no business is passing, sellers and buyers preferring to await developments. Prices now being quoted are purely speculative and represent a substantial reduction on the previous rates, and shippers state that it is almost impossible to forecast the future position. Stocks will definitely have to be bought by next direct steamer, as the local market is getting very short and buyers will, therefore, nave to watch the market position very carefully. Market advices state that shipments of white pepper to Ktirope in January constituted a record, being over 6000 tons. Stocks in the East are in consequence very much depleted. There has been rather more interest in black, -which is a Rhade firmer, though still cheap, compared to ■white. Resin and Turpentine.

The American resin on the whole remains Steady. "G" grade is unchanged, while "N" grade is listed at an advance of 5/ per ton. Turpentine quotations are unchanged this week, the market remaining firm. Pineapples. The Singapore buying market remains fairly steady, frith fractional reductions in l%lb cube's, lVzlb sliced flats. IValb sliced tails, lV4lb crushed, and 2%1b sliced. In cables received from Singapore shippers indicate that there is likely to be a shortage of fruit suitable for second grade pack. These grades consequently are fairly firm. Mail advices covering the January position state that there was a sharp advance, particularly in the prices of lMjlb cubes, but that only small parcels had Changed hands at the higher levels. Fruit supplies have turned out to be smaller than expected, and with the summer crop likely to be later than usual it is expected the market will harden. Tapioca. There is very little to report on this market, prices generally remaining unchanged with little business passing. Mail advices indicate that inquiries for both flake and seed remain steady, with only a very small amount of business passing. Ceylon Tea. The usual weekly sale of Ceylon tea was held on the 10th instant, and 1,630,0001b was placed under offer. Quality showed a further improvement, and the result of the sale showed a good demand, with the low grades advancing slightly, especially for leaf teas. Low mediums to good types wefo generally uiichnrtged, with fine quoted at dearer rates. Exchange remained unaltered. Next week's sale is expected to total 1,600,0001b; The report on the Calcutta sale on the 18th instant states that the quantity offered amounted to 600.0001b, and the result of the sale showed that most offerings were without material chance, and quotations remained Unaltered. The next sale will be held on March 5; and will be the last sale of the 6eason.

Salmon. Mail advices received in connection with salmon fishinpr indicate that San Francieco principals advise that it 19 practically certain fishing in Bristol Bay in 1935 will be entirely proTTibited. This prohibition is expected to have a very drastic effect ■ on the amount of Alaska Red salmon that will be offered this eeason. Bristol Bay I'.c. total U.S. Total Pack. Pack. pack pacßed Cases. Cases. In Bristol Bay. 1032 . 2, - J00,104 1,301,832 59 1903 . 3,321,78* 1,614,721 70 1034 . 2,027,087 1,603,467 OS I

I British Columbia ealmon packers state that the Canadian pack ie being very rapidly absorbed, and that European buyers are covering for considerable quantities of all grades, no doubt, greatly influenced by the anticipated small, .pack in U.S.A. in 1935. The regulation to restrict or partially restrict 6tock operation in Bristol Bay, lias diverted attention to spot stocks in Vancouver, and all grades are expected to be cleared before the canning season commences this year. English Meat Extract. _ Owing to an alteration in the classification of this line, future shipments will land on a reduction of approximately 10 per cent on previous costs. Sunflower Seed. ■ Manchurian sunflower seed just quoted is on a very high level, present market rates representing 50 per cent advance on the last price received. As new season's will not be available before September next, any lower prices in this market cannot be expected. Desiccated Coconut. The market for desiccated coconut is particularly firm, and froii advice recently received it eeeras quite evident that a continuance of high market values must be expected. A fair amount of business has been done in Papuan, and the parcels already offered have been quickly taken up, Wholesale Current Prices. Butter. —First grade factory, booked 1/OV£ per lb, and 1/ per lb for prompt! cash; second grade factory, booked IP/id per lb, and lid per lb for prompt cash. Farmers' separator, 10d per lb. Cheese.—First grade factory size (80'e), 5%d per lb net; best quality medium (40's), 6%d per lb;.first quality, 6d per lb; loaf, l\id per lb; tinfoil, VAb pats, 1/3 per lb. Honey.—Bulk, white. 6%d per lb; light amber, olid per lb. Bacon.—Hams, 1/ per lb; rolled hams, 1/1 per lb; cooked ham, 1/7 per lb; cooked pressed ham, 1/8 per lb; bacon sides, 10 ] /id per lb; rolled sides, 1/ per lb; shoulders, 9d per lb; rolled shoulders, 10% d per lb; middles, 1/1 per lb; lard, bulk, 6V£d per lb; pats, 7d per lb. Linseed.—Crushed, 24/9 per cwt; whole, 23/9 per cwt. Linseed Meal—l 2/9 per 1001b. Flour.—Local: 2001b sacks, £14 12/6 per ton; 100's, £15 10/ per ton; sO'«, £16 per ton; 25's, £16 15/ per ton; 12%'e, £17 2/6 per ton; GVi's, £18 2/6 per ton. Malt.—Crushed, 10/3 per bushel; whole white, 9/6 per bushel; whole black, 11/6 per bushel. Twines. —Seaming, first quality, 2/3 per lb; second quality, 1/11 per lb; binder, 49/6 per cwt. Bluestonc.—27/6 per cwt.