MARKETS AT A GLANCE

Auckland Star, Volume LXVI, Issue 238, 8 October 1935, Page 4

MARKETS AT A GLANCE

DISTRIBUTING TRADE IMPROVES. ' PINEAPPLES ADVANCE IN PRICE. ' OVERSEAS MARKETS VERY FIRM. > J "Auckland Star" Office, Tuesday, October 8. The serious international position at : present existing has created particular ; interest in most overseas offers, and subi stantial bookings are reported in many 1 products. Local trading continues active. Genoral News. 1 With the advent of warmer weather, 1 special interest is being taken in mer- ! chants' offers of prunes, although sonic 1 varieties are in rather short supply, with merchants anxiously waiting on the arrival of the first of the new season's, which generally arrive here early in November. Other lines of dried fruits are much in demand also, with tlie stock position not very strong. Due to Australian packers withdrawing practically all grades of dried apricots and some grades of dried peaches, local stocks in a number of instances are entirely exhausted. It is quite evident that these varieties will be in very short supply until fresh fruit comes on the market, A shipment of this season's muscatels, almonds and raisins has been received and has already been placed in circulation. Merchants' stocks of walnut meat ar™ now practically exhausted, with further supplies not available until the arrival of new season's, late in November or early in December. Owing to the high indent cost of pineapples, merchants have been compelled to firm prices, and further advances must eventuate in view of the replacement cost via Australia, as available stocks are not expected to cover requirements pending the arrival of direct steamer shipments early in January. Two breakfast lines, one of puffed wheat and the other of puffed rice, are being offered during the present month under a special bonus offer of one jar of vegetable extract free with each packet. Retail stores when purchasing either cf the above will get thirteen to the dozen. A reduction in the price of 1/ per dozen has been announced for a line of cheese paste in the 4oz size. In view of the rising cost of beef fats, an increase of %d per lb in the price of margarine has been advised this week. A brand, of tinned corned beef anil mutton, packed in nominal 21b tapered tins, which has been withdrawn from this market for a number of years, has now been reintroduced. Prices are quite attractive. Christmas packings of a number of lines of cigarettes are now being introduced for delivery about the 16th instant, with prices ruling the same as for ordinary packing. Arrivals to hand from overseas during the past week comprise shipments of fine salt in lewt bags and 51b bags, as well as coarse salt in lewt bags, muscatels, nectarines, mixed spice, cayenne pepper, tumeric, peroxide of hydrogen, bulk tea, 71b tins' of prunes 70/80's. l's fruit salad, desic-1 cated coconut, loaf sugar in bulk and cartons, seedless raisins, picnic asparagus, boracic acid, laundry soap, British Columbia salmon in various grades, pilchards %'s and l's, ground almonds, curry powder, English essences, English fish paste, rennet, Lima beans, English cigarettes, whiting, canary seed, case kerosene, etc. Dried Fruits. Cables just to hand from San Francisco shippers advise that owing to rains, prices of all grades of raisins and prunes have been advanced 1/0 per cwt. The market for raisins, after a steady decline, has been frming during the past few weeks, and prices have already advanced 3/G per cwt, so that this now makes a total advance of 5/ since September 1. Prunes have been offering at most favourable prices during the last three months, and most buyers have already covered for supples for prompt shipment, and for spread delivery as far ahead as next June. Walnut Meats. The present season appears to be the most difficult one that has been experienced for Home years. Last season the crop was over 30 per cent below the previous season, and owing to the exceptional demand for supplies from America and Canada, as well as the Australian markets, the crop was completely cleared. _ This year, owing to the absence of rain, the crop is even shorter than hist year, early estimates giving a 40 per cent short crop. Naturally, the "prices named so far have been considerably higher than those ruling last season, and now the advice com;s from Tientsin that there is considerable difficulty in obtaining best quality meat.;, and one prominent shipper has had to withdraw prices meantime. The position of the market is ccrtainly a very strong one, and most buyers have already covered for their requirements of good quality meats. Resin. The market for American resin continues to sliow a firm tone, prices in late cables received having advanced 1/ per ton on G and 2,/ per ton on N grade. Fair business was covered some time ago, therefore, merchants are not taking much interest in agents' offers at present. Turpentine. A further advance of Id per gallon has been advised in shippers' quotations for Pino Tree turps. Prices have now reached a very high level, being to-day 4d per gallon above the lowest level reached this year.

Pineapples. The market for Singapore pineapples continues to show a strong tone, a further advance of %d per dozen being noted on lVfclb crushed second quality and l'/ilb sliced talis first quality; Mid per dozen increase is also noted on 2Vall> sliced. For some unknown reason. VMb crushed ara listed at a reduction of Mid per dozen and V*ll per dozen 011 211) crushed, while all other varieties remain very firm. Late , cables received from some packers yesteiday advised a sharp advance of approximately 10 per cent, while others have withdrawn their prices temporarily. Ship--1 pels state that 00 per cent of the win'.er pack has already been sold, which would indicate a further firming of prices in the very near future. Tapioca. After taking a sharp rise last week, prices for tapioca are now somewhat weaker. A reduction of 3d per cwt is noted on Penang seed and Gd per cwt oi. medium pearl, while Singapore sago remains unchanged. Sellers advise that the market is steady for the present, although lower prices are expected. It is not anticipated, however, that the previous low levels will be reached this year. Nutmegs and Mace. Nutmegs are' quoted as being particularly firm, 110's are listed at an increase of %d per lb. while sound shrivelled are Vol per lb higher. Mace, on the other hand, is .1 little easier in last week's cables, %d per lb increase being noted. Although mace is fractionally weaker, quotations for both lines lire at the highest level seen for some considerable time and are in sympathy with the general firming of prices shown in most food commodities from the East. Ceylon Tea. Late cables received since last report state that the market for all grades is particularly firm, and further advances are expected. Bird Seed. An advance of 2/ per gross has been advised on lib bags and 4/ per gross on 21b bags by a local packer of bird seed. Parrot food also shows an increase of Gd per dozen on small cartons and 9d per dozen on largo packets. Rice. New season's quotations have been named for Rangoon rice for delivery by the March-April direct steamer. Althougn prices named are at a slight increase c:i : opening prices for last year, present offers in view of the state of the market are • considered to be good and fair business has already passed. Nuts. Late London cables state that the nut market is very firm with a distinct upward tendency.

Desiccated Coconut. A further advance in desiccated coconut has been advised 111 late cables received to the extent of 10/ per ton. The copra market is very firm and this 110 doubt is mainly the reason for the increase 11 coconut, which generally follows this market. Ginger. Late cables received from London state that quotations for unbleached African whole ginger have advanced a further 2/ per cwt for shipment from London, with the advice that the market is still advancing. Almonds. Quotations for new crop Valencia almonds, 3 crown grade, have increased 7/0 per cwt in cables received from London during the week. Tinned Prunes. Advices received from Australian packers of tinned prunes advise that 40/50's are entirely sold up. A limited quantity of uO/'OO's are still offering, but it is anticipated that this grade also will be withdrawn from sale very shortly. Dried Apricots. Owing to the fact that Australia has entirely sold out on her export quota for dried apricots, considerable local sales have been made during the last week from various merchants, and substantial quantities have been shipped to Southern centres. Jordan Almonds. The following air mail report has jint been received from London: The market for Jordan almonds is very firm indeed and has advanced 2/ to 3/ per cwt during the last few days. There is 110 doubt about there being a short crop; although there is only a fair demand at present there is quite a large amount of business still to be placed, as good quantities have been sold by speculators at very low prices which have not yet been covered. Shippers state that they expect the market to keep very firm, especially as there is generally a good trade to be done in this variety which has not yet started and is usually done in October and November for Christmas trade.

Wholesale Current Prices. Butter.—Finest grade, booked, 1/3% per lb and 1/3 per lb for prompt cash; first grade factory, 1/3 per lb and 1/2V6 per lb for prompt cash; second grade factory, booked, 1/2 M: per lb and 1/2 per lb for prompt cash; whey, 1/OMs per lb.

Cheese.—First grade factory size (80's), C'/id per lb net; medium (40"s), o%d per lb; first quality (20's), 7'Ad per lb; loaf, 7%d per lb; tinfoil, '/Ah pats, 1/3 per lb. Honey.—Bulk white, o%d per lb; light amber, 5d per lb.

Bacon.—Ham, 1/1 per lb; rolled boneless ham, 1/3; cooked whole ham, 1/5: cooked rolled ham, 1/0; cooked pressed ham, 1/8: bacon sides, lOVid; rolled sides, 1/; rolled middles, 1/1; shoulders, 7M!t': rolled shoulders, B%d; cooked pressed shoulders, lid; lard, bulk, GVid; pats, 7d; dripping, od. Linseed. —Crushed, 22/9 per cwt; whole, 21/9 per cwt. Linseed Meal.—l 2/0 per 1001b. Flour.—Local: 2001b sacks, £14 12/6 per ton; lOA's, £15 10/: 50'h. £16: 25's. £10 15./; 12Ms's, £17 2/6; (i'/i's, £18 2/G. . Malt. —Crushed, 10/3 per bushel; whole white, 9/6; whole black, 11/6. Twines.—Seaming, first quality, 2/8 per lb; second quality, 2/2 per lb; binder, 49/6 per cwt. Bluestone.—27/6 per cwt.