MARKETS AT A GLANCE

Auckland Star, Volume LXVII, Issue 65, 17 March 1936, Page 4

MARKETS AT A GLANCE

ACTIVE BUSINESS. / PINEAPPLE MARKET CONTINUES FIRM. ALMOND MARKERS ADVANCING. I "Auckland Star" Office, Tuesday, March 17, 1936. Trade continues to show considerable activity both in retail and wholesale circles. Merchants now advise the trade of their commencement of April booking, which will take place to the country districts on Monday, the 23rd instant, and in the town area on the following Wednesday. Already merchants have commenced to receive orders for this . account, and by the end of the week they expect to bo I very busy in all departments. General News. The first of the new season's pears are now being distributed and are experiencing a steady demand. There is no advice yet of the new season's Australian dried fruit quotations, and as stocks of old season's are low, and some grades exhausted, incr- , chants are anxiously awaiting this information, also the date of earliest delivery. A new pack of a popular line of washing powder in l%lb packets is now available, and is expected to be in demand on account of its handv packing. Opening quotations for Jordan almonds have been named, and are much higher than last year's opening prices. Little interest is "being taken at the moment. Owing to the demand that has been experienced for tinned fish, etc., some quarters are now advising their inability to supply certain lines. A reduction of 2/ per case had been advised on a local pack of sweetened condensed milk, and an advance of 2/ per case on a low-priced local brand of unsweetened milk. Two of the local manufacturers of well-known patent medicines, operating under a. price maintenance scheme, have announced the introduction of a special parcel discount equivalent to 3% pet- cent trade discount on six dozen assorted parcels. A new attractively packed and low-priced line of household cleanser has been introduced to this market, and, as it will retail at 4%d per tin, and the product is guaranteed to do its work, it is meeting with a good demand. Overseas arrivals during the week comprise shipment of fine salt, coarse salt, split peas, pearl barley, boot polish, breakfast foods, soluble coffee, loaf cheese, tobacco, etc. Pineapples. Cables received during the past week advise that quotations for pineapplss remain firm at lasttuling rates, with the exception of second quality l%d lb sliced flats, which have advanced a further %d per dozen. Mail advices state that forward business has been rendered difficult by the announcement by the Registrar of Factories of his intention to cancel the i licenses of three of the Singapore factories I at the end of February. It is possible that similar action will be taken in the case of some of the smaller Joliore packers. ]t is difficult to say to what extent the market will be affected during the height of the packing season, but there is little doubt that for the time beinjr there will bi a tendency for the remaining packers to hold out for higher prices. Ground Almonds. One of the largest shippers of ground almonds to this market advises that the bag almond market has already advanced, and it is considered by London shippers that it will go to considerably higher levels than at present. Stocks of Italian almonds which were imported before sanctions were imposed arc now practically exhausted. Prices obtained from Spain are very high indeed, even for common quality, and quotations coming from Persia have advanced several shillings during the past few weeks. Most of the large grinders in England, who before Christmas considered they had sufficient almonds in stock to last them until Easter, are already in the market for hundreds of bags. Sicilv Almonds. Cables have been received that a limited quantity of Sicily almonds bought prior to the imposition of sanctions is available from London for March/April shipment. In view of the advances that have taken place in other almond lines, this offer is considered very favourable, and it is anticipated that the next few days will see the parcel completely cleaned up. American Resin. The market for American resin is still remaining steady, with quotations unchanged on G grade and a reduction of 5/ per ton on N grade. Little interest is being taken at present. Pine Tree Turpentine. The market for Pine Tree turpentine shows very little movement, to-day's quotation remaining unchanged from that ruling for the last few weeks. Tapiocas. Cables received advise that the tapioca market is steady ancl featureless, with a reduction of per cwt advised on Penang grades, while small pearl sago ancl sago flour remain unchanged. Mail reports advise that there has been little doing in both flake and seed, but dealers show no anxiety to part with their stocks. Nutmegs and Mace. Nutmegs 110's'aro a little easier to the extent of per lb, while sound shrivelled nutmegs have advanced Vsd per lb. Mace is exceedingly firm, quotations to-day being at the highest level seen for some time, with only small quantities available. Agents are in receipt of advice to the effect that there have been fair arrivals of nutmegs and the market has declined a little. There has, however, been rather more interest displayed at the lower levels reached. Mace is still difficult to buy, and the supply position has become no easier in spite of the high prices ruling. Pepper. A mail report dated February 15 states that the market for pepper has remained barely steady since the last report and dealers appear more willing to shade their prices with business in hand. No information is yet available of the summer crop and the alleged unremunerative level of current values from the producers' point of view renders the outlook somewhat uncertain. Barcelona Nuts. ■ Quotations for new season's selected quality Barcelona nuts have now been named for September shipment; and some interest is also being taken in agents offers. Prunes. New season's Australian prunes are now being received into the sheds in Australia and it is anticipated that prices will be named within the next week. Brazil Nuts. An increase of 2/ per cwt has been advised in quotations for new crop best Para Brazil nuts. Dates. Quotations for stoned dates have been withdrawn from London, and limited quantities are available from London at 1/ per cwt increase. Valencia Almonds. Cables received from London shippers of Valencia almonds advise that quotations have been increased by 6/ per cwt. Ceylon Tea. A mail report from Colombo dated February 7 advises that large supplies of tea were available at the first three auctions in January, as the accumulation due to the discontinuation of the sales during the Christmas holidays had to be disposed of, but the last auction of the month was a small one, and the total supplies were not excessive at just over 11,000,0001b. The average price realised was 69% cents, which was 5M cents more than for December and this was due to the higher prices realised for improved quality teas, as well as to a well-distributed demand. Following the news that, the restriction quota for 1936-37 was to remain unchanged at 82% per cent, and the satisfactory United Kingdom stock position, the market opened strongly for low-grown softs,

prices advancing %d to %d per lb at the lirst auction, as compared with the last sale in 1935. Prices were fully maintained the following week, but afterwards declined slightly, although all offerings were readily taken up. Quality showed a steady improvement, and high and medium-grown teas advanced in price. This was particularly noticeable at the last sale, when some really nice teas were offered, and United Kingdom blenders paid as much as Od per lb over last rates for stand-out quality and flavour. There was also very strong competition from American buyers for all Pekoes with good quality and these realised long prices. The planting districts have experienced very little weather favourable to the manufacture of fine tea, and at present when low temperatures and dry weather are normally to be expected, there is a certain amount of rain. As a result of this, there is every probability of a shortage of fine teas this season, and it is to be expected those available will be keenly sought after. Shipments to the United Kingdom during January showed a slight increase, but figures for the other principal consuming countries are only available from December 13 to 31, and these appear to be satisfactory. The very low figure for South Africa is explained by the distribution of South African sailings. Exchange during the month showed little change. Wholesale Current Prices. Butter.—Finest grade, booked, 1 lM:d per lb, and lid per lb for prompt cash; first grade factory, booked, 11(1 per lb and 10Mid per lb for prompt cash; second grade factory, booked, lOMsd per lb and lOd per lb for prompt cash; whey, OMsd per lb and 9d per lb for prompt cash. Cheese. —First grade factory size (80's), 6%d per lb net; medium (40's), 6%d per lb; first quality (20's), 7%d per lb; loaf, 8d per lb; tinfoil, %lb pats, 1/3 per lb. Honey.—Bulk white, 5d per lb; light ifmber, 4%tl per lb. Bacon. —Hani, 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, 9%d; rolled sides, lid; rolled middles,,l/; pressed shoulders, llVid; lard, bulk, 7%d; pats, 8d; dripping, sd. Linseed. —Crushed, 10/9 per 1001b; whole, 16/G per cwt. Flour.—Local, 2001b sacks, £13 12/ per ton; 100's, £14 12/G per ton; 50's, £14 17/6 per ton; 25's, £15 7/6 per ton; 12V2's, £16 per ton; 6Vi's, £16 17/6 per ton. Malt.—Crushed, io/3 per bushel; whole white, 9/6 per bushel; whole black, 11/6 per bushel. Twines. —Seaming, first quality, 3/5 per lb; second quality, ?/10 per lb; 49/6 per cwt. Bluestone.—2B/6 per cwt.