MARKETS AT A GLANCE

Auckland Star, Volume LXVI, Issue 250, 22 October 1935, Page 4

MARKETS AT A GLANCE

GOOD BUSINESS VOLUME. ' ACID MARKETS HIGHER. | NUT MARKETS FIRMER. j "Auckland Star" Office, Tuesday, October 22, 1935. With opening business for November account commenced to-day and in the town area on Thursday, business already transacted this week has proved of quite, good volume. The retail trade are taking j advantage of the present stock position of merchants, as it is becoming increasingly, evident that as arrivals of replacements 1 come to hand, higher costs will be necessary. Overseas' reports continue to showj a generally firming tone, and the opinion is that overseas markets have now taken I a definite lift in values. Tea in particular, is very firm, and higher prices are expected fox this commodity. I General News. j As regards canned fruit, merchants already advise a shortage of some grades,] particularly for pears, New Zealand packers being unable to offer supplies in this line for some time. Merchants have therefore endeavoured to secure further stocks from overseas, but practically the whole of the Australian output has already been sold, and it is not anticipated that merchants will obtain much relief from this quarter. What supplies have been obtained will land at higher rates than previous New Zealand offerings 011 account of the higher f.o.b. cost, but owing to the: shortage these will go rapidly into consumption. Mail reports received from Australia state that the Australian market position for x'ice is very firm with only limited quantities available. In spice lines, owing to the unsettled situation in Europe, all markets have a firmer tendency, and sellers are not inclined to quote for delivery far ahead. Latest reports from the West Indies show that thej Pimento crop will be very light this season, and some reports indicate that the production will only be 20 per cent of normal. The demand for ginger has been maintained, and spot stocks are barely sufficient to satisfy the market's requirements. In seeds, hemp seed is now comparatively cheap, but Japan advises a shortage of millet seeds, and this position will not* be relieved until the new crop is ready for shipment about the end of the year. In Argentine canary seed the market is showing considerable firmness. In coffees there has not been any change recently. A well-known line of English effervescent salts is being further popularised during the present month by a bonus offer to the stores of one bottle free with each dozen ordered in both sizes. Overseas shipping has been lighter than usual, the main items of interest being further substantial consignments of Ceylon tea, desiccated coconut, drained cherries, cigarettes, greaseproof paper, lentils, salmon, herrings in sauce, etc. Cream of Tartar. Quotations for Australian cream of tartar, in conformity with increases for English cream advised last week, show an increase of £4 per ton. Tartaric Acid. Cables just to hand advise that the market for tartaric acid has been very active of late, latest cables advising an increase in this market of 19/ per cwt. Citrio Acid. The market for citric acid also is show-i ing great firmness, recent cables advising i an increase of £5 10/ per ton. j Tea Markets. | Latest indications in regard to Ceylon l and Indian tea markets are that there does not seem to be any possibility of present prices easing for some considerable time to come. Both markets are very firm, and in comparison with quotations ruling a few months ago show an average rise of 3d to 3%d per lb. Some low prices are still being made by a number of local stores who bought fairly extensively some time ago, but it is considered onlya question of a little time before they, will be forced to replace at higher costs: and firm their selling prices accordingly J Although stocks in wholesale hands are fairly well held just at present importers are of the opinion that the next few months will see quite a shortage of certain ■ grades. I

Resin. The American market for resin continues to show a very firm tone as regards "G, late cables received advising a further increase of 8/ per ton on this grade. N grade is fractionally easier, 1/6 per ton reduction being announced. Buying is quiet at the moment. Turpentine. . The market for pine tree turpentine is unusually firm just at present. A further increase of 3d per gallon was advised last week, which brings the price of this commodity to the Inchest level seen for some considerable time. Permanganate of Potash. Quotations for permanganate of potash (Condy's crystals) in recent cables received show a reduction of 4/ per cwt. Indications point to this lowering of prices being onlv of a temporary nature, shippers stating that prices are expected to firm again very shortly. The amount of business that passes for this line as a rule is not very large, but agents advise that additional orders have been placed at the lower rates. Pepper. •Quotations for pepper remain rather quiet at the moment, a reduction of l-10tli of a penny being advised on Sarawak white and an increase of l-16th of a penny on Sarawak black. Nutmegs and Mace. Both nutmegs and mace continue to show a firm tone. Nutmegs in 110 grade are up %d per lb, while sound, shrivelled and broken show an increase of %d per lb. Mace is also registered at an increase of %d per lb. Quotations for nutmegs are the highest seen for some time, with the result that only small orders have been placed where replenishing of stocks has been necessary. Pineapples. The market for pineapples continues firm, with a further increase of %d per] dozen being noted in 21b sliced, 2%1b sliced and 21b crushed. An increase of Id per dozen on sliced flats and 2d per dozen on l%lb sliced tails, VM per dozen on l%lb crushed and 2%1b crushed. Quotations generally are expected to go higher, and a fair quantity of business was put through last week. Tapioca. After the excitement in this market last week, prices have steadied down at a lower level, and late cables advise a reduction of 1/ per cwt on Penang seed, 1/3 per cwt on Penang medium pearl, and 1/6 on small pearl sago. Small flake tapioca is still unobtainable, whilst sago flour is quoted at 1/4% per cwt lower. With the present uncertainty regarding quotations generally on this market, buyers are not operating, preferring to wait and see what happens. Sellers advise that the maiket is easier, with, if anything, a downward tendency. Brazil Kernels. Cables received from London during the past week advise that the market for shelled Brazil nuts is very firm, an increase of 4%d per lb being advised, with further information that this market is expected to go still higher. There is a general impression that kernels will cost 1/6 per lb in London before the. end of the year. Barcelona Kernels. Quotations for Barcelona kernels are exceedingly firm, late advices indicating an increase of 6/ per cwt. Jordan Almonds. The market for Jordan almonds ha* advanced considerably in recent cables, > and is still very firm. Shippers state that, stocks in Spain are unusually low; in fact,! some shippers state that the crop is prac-1

tically finished. Owing to the fact that the market for Californian shelled almonds has been at very high rates, there is a good demand in America for Valencia almonds, and in addition one of the leading London houses advises that America is now in the market for almonds in shell. Dried Fruit. Cable advices received from Australia ■ advise that quotations for currants, sulI tanas and raisins remain firm at previous I rates. Tinned Prunes. There has been a considerably increased trade done in the Dominion during the last twelve months on Australian tinned ' prunes, especially 40/50's. Recent advices, liowever, are to the effect that this grade is entirely sold up, and any buyer fortunate enough to be holding s .ocks should find a'ready market for his goods. Ground Almonds. Quotations for ground almonds have been increased by 5/ per cwt, but even at I to-day's rates there is good buying being , done, especially in view of the fact that , one of the most popular and well-known i brands is being sold for shipment as far 1 forward as June without any advance. Coconut. The market for desiccated coconut is fractionally easier in cables received during the week. Agents are of the opinion, however, that with the firmness ' now existing in the copra market, there is I little likelihood of any great downward movement. Wholesale Current Prices. Butter.- —Finest grade, booked, 1/4% per lb and 1/4 per lb for prompt cash; first grade factory, 1/4 per lb and 1/3% per ib for prompt cash; second grade factory, booked, 1/3% per lb and 1/3 per lb for prompt cash; whey, 1/2% per lb and 1/2 per lb for prompt cash. Cheese.—First grade factory size (80s), 7%d per lb net; medium (40's), 7%d per lb; first quality (20's), B%d per lb; loaf, B%d per lb; tinfoil, %lb pats, 1/3 per lb. Honey.—Bulk white, 5%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. 1/6; cooked pressed ham, 1/8; bacon sides, 10% d; rolled sides, 1/; rolled middles, 1/1; shoulders, 7%d; rolled shoulders, B%d: cooked pressed |shoulders, lid; lard, bulk, 7%d; pats, 8d; dripping. sd. , , Linseed—Crushed, 22/9 per cwt; whole, 21/9 per cwt. Linseed Meal.—l 2/9 per 1001b. ■Flour.—-Local: 2001b sacks, £14 12'6 per ton; 100's, £15 10/: 50's, £16; 255, £16 15/; 12%'s, £17 2/6; VA'b, £18 2/6 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.