MARKETS AT A GLANCE

Auckland Star, Volume LXVI, Issue 202, 27 August 1935, Page 4

MARKETS AT A GLANCE

TRADE CONDITIONS IMPROVE. , AUSTRALIAN SHIPMENTS RESUMED. I I PILCHARDS LOWER. "Auckland Star" Office, Tuesday, August 27. The pay-out to dairy farmers which j took place last week, and the annual bonus payment which is also taking place at the end of this month, hae had an immediate effect on country storekeepers' business, and retailers are reporting very much better conditions, which will, it is anticipated, have the effect of giving a more improved tone to business in the town and suburban town areas also. General News. Tobacco and cigarette deliveries which are now being booked for September 1, will be dispatched to the country district*; on Friday next, but deliveries to the town will not be effected until the following Monday. A new pack of tobacco under the trade rnarK of a brand that has been sailing here tor some time will be available for distribution on the Ist of next mouth. The new pack ie a cigarette tobacco in 2oz tine, and is available in two grades—long and fine cut. In order to obtain even distribution packers are giving credit on any returns of old pack. Packers of 531b tins jam suitable for bakers' use are now offering a new pack, in 251b tins, which should take on very well with the trade. Due to the recent shipping hold-up in Australia merchants' stocks of many Australian lines have been seriously depleted. With the strike now over and shipments resumed, the first steamer to leave was the Wanganella. It is quite possible, however, that this steamer will not overcome all shortages, and some lines will be out for a week or two. The first shipment of new season's nuts have just come to hand. Supplies have arrived early, ae the main demand is during the latter part of the year. One packer has intimated the price of new season's salmon, which shows a reduction on hist year's opening rates. Quotations for preserving jars, alro jam, jelly and honey jars are now available for the 1035-30 eeason, and merchants are now booking for spread delivery as far on as March next.. lu regard to country deliveries, orders for three cases or more assorted will be freight paid to nearest port or railway station, and good business should be done on this basis. On account of the very favourable price at which merehante are now quoting prunes, recent arrivals have met with a fairly heavy demand. At the moment l's desiccated coconut are rather short in some quarters, with merchants anxiously waiting on further arrivals. Pearl tapioca is also fairly short, and this position will not be relieved until the Narbada arrives early next month. Advices received in connection with Australian rice indicate that there has not been any change in prices since last report, although latest cables received from India advise a firm market, with every prospect of prices being maintained from that quarter for; the rest of the season. Overseas prices of Patna type have been advanced substantially, but up to the present there has not been any change in Australian quotations. In epice lines, with the exception of pepper and pimento, all markets are quiet. Pepper rates are at a very low level, and there has been a marked improvement in the demand during the last month or two. Shippers report a likelihood of a serious shortage in the Pimento crop this season. In coffee prices of Mocha continue to advance owing to a shortage of supplies for early shipment. Parcels of new crop Java Robueta are expected to arrive early in December. Arrivals to hand from overseas during the past week comprise shipments of V*'s sardines, %e and l's Sockeye salmon, Cohoe salmon, arrowroot Ms's and Vβ, bulk fine salt, s's table salt, cream of tartar, English cornflour, caustic soda l's and 2's, bulk and loaf carton sugar, medicinal soaps and ointments, rice, No. 1 table and ground, as well as Patna type, bulk cornflour, medicinal salts, bi-carbonate of soda, both boxes and kegs, curry powder tins and bottles, Capers, loz powdered magnesia, Siedlitz powders, castor oil, Glauber salts, loz packets tartaric and citric acid, anchovy sauce, herrings in sauce, both %'s and l's, essences of lemon and vanilla, calves' foot jelly, fish paste, rennet, rubber goods, tooth paste, infante foods. Worcester eauce, wax matches, tea, etc. Pilchards. Late cables received advise a reduction in the market for pilchards. When opening prices were first named the market was indicated at very firm rates, but during the past fortnight the market has weakened, and cable quotations now received advise a reduction of 1/6 per case on l's, and 6d per case on x k s. Supplies of late have been rather short in some quarters, but the first shipment of new season's is due here early next month, which will be ample to take care of all orders in hand. Advices received > state that canners arc packing agents' definite orders in hand only, and in view of this buyers would be well advised to cover their season's requirements immediately as there is the strong possibility of available stocks being cleared at an early date. Desiccated Coconut. The market for desiccated coconut has 6hown eome weakness during the past two weeks, but late cables received advise that a reaction has set in, and the market is up again and is now very firm. In view of the drought experienced towards the end of last year, prices have been slowly but gradually firming for a considerable period, and the weakness that was advised a few days ago is thought to be a reflection of the low prices that are existing on copra, and therefore only temporary- Aβ far as crops in Ceylon are concerned there does not seem to be sufficient stock available to warrant any definite reduction in price for some considerable time to come. Salmon. Quotations for lib tails of Alaskan salmon- have been announced, and are considerably higher than the level ruling last year, the difference in quotations being approximately 8/ per case increase. A fairly heavy advance was anticipated, mainly on account of the very strong position in Alaska, this being due to the main fishing grounds (the Bristol Bay canning area) being closed by the Government for the whole of this year. The main quotations for Californian grades have not yet been named, and merchants are anxiously waiting on this advice. Resin. The market for resin has been verj active of late on account of quotations being listed at a particularly attractive level, with the result that considerable business was put through during the past week at the quotations ruling. Immediately after confirmation was received, further cables came to hand advising an immediate increase of 10/ per ton on N grade. Subsequent cables received later showed that the firmness was not maintained, and' prices are now lower to the extent of 5/6 per ton on the recent advance. Ceylon Tea. A mail report from Colombo dated July 10, states that supplies for June showed a falling away as compared with the previous month's figure of 11,263,0491b, only 9,385.2711b being available at the local auctions. This total was also a little below that of June, 1034, which was just over 10,000,0001b. The first auction of the month showed a weaker tendency, although low-grown tea was in good demand at occasionally lower rates. From then until the end of the month, however, the feature of the auctions was the continued demand for and advancing prices of low tea, which at the sale were Vid to %d per lb above those ruling at the beginning «£ the mouth. Quality, jyae

rather poor and if anything declined during the first three auctions, prices of the better teas showing a corresponding weakness, but in the final sale quality showed signs of improvement, and with strong buying from all markets, prices advanced. Forward musters are distinctly better, particularly those of teas grown in Badulla and similar districts, and much better quality together with smaller supplies will be coming forward in August, as was foreshadowed in the last report, Shipments were fairly satisfactory, although those to the United Kingdom showed a rather heavier decline than is usual at this time of the year. Shipments to Australian ports, however, actually showed a slight increase, which, coming at a time when smaller figures were normally to be expected, was very satisfactory, while South African figures wore still well ahead of last year. With the smaller supplies expected, the decrease in United Kingdom stocks, and the continued strong demand both in London and Colombo, it seems unlikely that common tea will decline during the next month or two; in fact, indications rather point the other way, while it is only to bo expected that higher prices will be paid for the better types as quality improves. Exchange was steady during the month. Tapioca. Reports received last week advise that the market for tapioca is steady and featureless, and a comparison of previous rates received shows a reduction of Iwd per cwt on all grades. In previous shipments considerable preference has been shown for Singapore small pearl sago on account of its being a cheaper proposition than Penang grades, but latent indications are that buyers arc swinging more over to the Penang type on account of its improved quality, which gives considerably better satisfaction to the buying public. No supplies of small flake tapioca have been available for some time on account of dearth of supplies at shipping centres. Agents now advise in cables just received that small supplies arc again available at an increase of 1/3 per cwt on prices ruling two months ago. Some years ago this type was sold very largely throughout the retail, but of late years the changeover has been to pearl, which is preferred by tho greatest majority. Flake is still brought forward, but only in very small quantities. Canary Seed. This commodity is in good demand, with the result that spot stocks are now becoming a little short, ponding the arrival of indents from the Argentine, which are due next month. Pepper. The market for pepper remains steady, the only alteration being a reduction of l-16th of a penny per lb on Sarawak white. Very little interest is being taken in agents' offers just at the moment, this being mainly due to the expected early arrival of the Narbada with merchants usual three monthly requirements. Turpentine. Last week considerable fluctuation took place in quotations for Pine Tree turpentine, and a considerable amount of business was booked and confirmed on the lowest level reached this year. Since then the market has shown considerable firmness, and to-day's quotations rule at 2d per gallon increase. Copper and Brass. The market for copper is again firmer in cables just received, the basis price showing an increase of £2 per ton in latest cables from London. Brass sheets are also firmer, to-day's quotations showing an increase of %d per lb. Wholesale Current Prices. Butter.—First grade factory, booked, ll'Z-d per lb and lid per lb for prompt cash; second grade factory, booked, lOVid per lb and 10il per lb for prompt cash. Farmers' separator, 9d per lb. Cheese.—First grade tactory size (bus), 5%d per lb net; best quality medium MO's), 6'/id per lb; first quality, 6d per lb; loaf, 7iid per lb; tinfoil, %lb pats, Honey.—Bulk white, 6Hd per lb; light amber, sV*d per lb. Bacon.—Ham, 1/1 per lb; rolled boneless ham, 1/3 per lb; cooked whole ham, 1/3 per lb; cooked rolled ham, 1/6 per lb; cooked pressed ham, 1/8 per lb; bacon sides, lOVid per lb; rolled sides, 1/ per lb: roiled middles, 1/1 per lb; shoulders, "Mid per lb; rolled shoulders, B%d per lb; cooked pressed shoulders, lid per lb. Lard, bulk, OV4d per lb; pats, 7d per lb; dripping, 5d 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'e, £15 10/ ton; 50's, £10 ton; 20's, £16 15/ ton; 12Vi's, £17 2/6 ton; 6'A's, £18 2/6 ton. Malt.—Crushed, 10/3 bushel; whole white, 9/6 bushel; whole black, 11/6 bushel. Twines.—Seaming, srst quality, 2/3 per lb; second quality, 1/11 per lb; binder, 40/6 per cwt. Blueetone.—27/6 per cwt.