MARKETS AT A GLANCE

Auckland Star, Volume LXVII, Issue 206, 1 September 1936, Page 4

MARKETS AT A GLANCE

BUSINESS IMPROVES. TOBACCO DELIVERIES BEING MADE METAL MARKETS FIRM. ! "Auckland Star" Officc, Tuesday, September 1. j Wholesale grocery merchants report that 1 j towards the end of last week business slackened off somewhat, but owing to I deliveries of tobacco and cigarettes commencing to the country districts yestcrI day, and in the town area to-day, disi tributiiig trade has shown an all-round ; increase again. Immediately these deI liveries are finalised it is anticipated that storekeepers' ordinary requirements will not be so heavy. General News. Commencing yesterday, wholesale merchants are advising the retail of revised I quotations 011 tobacco and cigarettes. I Alterations in the various lines arc too varied to give in detail, but in comparison to previous wholesale quotations cigarettes are practically unchanged. In tobaccos the majority of lines show slight reductions. Overseas quotations for Californian prunes are slightly easier, although the market is still very high. Fairly substantial consignments of English goods arrived recently, and are now being offered to the various merchants. A new lino of tobacco is advised this week. This tobacco is a special smoking mixture imported from South Africa, and is expected to bo exceedingly popular. Packing is in lib tins. Quotations for one line of sandsoap have firmed to the extent of 1/ per dozen. The Californian market for seedless and seeded raisins is particularly firm, and there does not seem any indication of any easing of prices.

I London shippers advise that quotations for nuts and almonds are quoted at exceptionally high rates, and it is considered at the moment that there is a very strong possibility that finite a number of lines will not be shipped to this market owing to supplies being unprocurable. A well-known brand of English effervescent salt has been listed this week at slight alterations in price. Temporary shortages are noted in both 4 and o-Crown sultanas, further supplies being due very shortly. Some grades of prunes are short, with further supplies anxiously awaited. I-Crown dried peaches are cleaned up.

One local manufacturer of baking powder advises the withdrawal of the bonus previously offering 011 this line. They also indicate an increase of (id per dozen 011 large tins of custard powder. A local manufacturer is making a very attractive offer of bonus tin or packet free with every dozen of custard powder, blancmange and jelly crystals, which is expected to prove very popular with the retail trade. Arrivals from overseas and coastal jiorts during the past week comprise shipments of laundry soap, paint, pearl barley, oatmeal in s's, 25's, and 50's, rolled oats in 4's, 50's and 100's, blue peas, tobacco, etc. Brass and Copper. Metals generally are fairly firm. Works overseas are full up with orders, and it is exceedingly difficult to obtain early delivery. In view of the increased business that is being transacted locally, and to save any hold-up in the trade, stocks have had to be purchased from Australia. Jute. Cables received from India during the week advise that the Calcutta jute market relnains fairly steady. Corn sacks arc unchanged, while wool packs are Id higher in the 42-inch and l%d in the 48-inch. Business is reported to be quiet at present. Wood Oil. Prices to-day in wood oil are reaching a very attractive level, being lower than they have been for some time. Km-ther late cables received from Hankow indicate that the market is considered likely to decline still further. Resin. The American market for resin is a shade easier in late cables received. Quotations on G show a reduction of 3/6 per ton, and on A T 2/6 per ton. Prices on both grades are still high, and buyers, therefore, are not inclined to operate just at present. Tapioca. The market for tapioca during the past few weeks has shown a firm tone, but cables received lately show that a reaction has taken place, and Penang seed is now quoted at a reduction of 4V&d per cwt medium pearl 3d per cwt, with shippers iuhising that the market is easier with if any, a downward tendency. Small pear] sago is also reduced lVtd per cwt. Rice. An air mail report 011 the Rangoon rice situation tor early August states that during the week under review the market took a sharp upward turn and the advance,

which was chiefly occasioned by the firmness of wheat, maize and other cereals, has been maintained. Kates incidentally : have now reached the highest level this year. ihe ftiture of the market in the • absence of any material increase in the 1 demand from consuming markets is somewhat obscure and therefore appears mean- ' time dependent upon wheat prices. Paddy : is very firm and the present strength of ■ the market has materially given holders : added confidence. Far Eastern markets ( remain indifferent, but there is a fair business doing to the United Kingdom and the Continental ports in rice, bran and inferior Jjoonzain for feeding purposes. I Ihe offtake of rice in Calcutta continues very steady and rates 111 both Bombay ! and Calcutta have improved in sympathy ' with the appreciation. A fact which is 1 of interest is that the total exports from 1 Burma is about 137,000 tons less than last 1 year, while the shipment figure from Ran- ' goon to Calcutta and Chittagong is about - 217,000 tons more than that of last year. ' .The total Quantity of rice and rice pro- * ducts exported up to date amount to j 2.221,412 tons, leaving a balance of * 1,278,588 tons available. ( Jordan and Valencia Almonds. f Cable advices have been received from one of the large London shippers stating that in regard to deliveries of Jordan and Valencia almonds, they will advise ] later, but shipment is extremely doubtful ( They state that the civil war in Spain 1 has completely upset all exports from that country. In the ease of Valencia and

Jordan almonds, it is doubtful whether there was time to harvest the new crop before the war actually started, and as the fighting has been concentrated round the almond growing area, the harvest is likely to be very much upset. Ground Almonds. Further cables received from London indicate that this market is etill advancing, an increase of 25/ per cwt being advised. In comparison to last year's quotations, present rates are approximately £5 per cwt higher than last year. Sicily Almonds. The market for Sicily almonds is also firmer to the extent of 7/ per cwt, in cables just received. Olive Oil. In view of the critical position in the Mediterranean, olive oil has advanced approximately 1/ per gallon. Brushware. Advices have been received by some manufacturers that, owing to the firm market on raw materials and to the new legislation, there is a very strong! likelihood of brushware advancing in £he near future. Dried Apricots. South African apricots, which have recently been offered at exceedingly low figures, are now beginning to advance in price, London shippers advising that stocks of this year's crop are now practically exhausted.

Raisins. Mail reports from the Cured Fruit Association of California advise that the elimination of Germany as a buyer of Californian raisins has been more than offset by an increase in exports to certain other European countries, particularly the United Kingdom. Government statistics show that total export of raisins from the United States in the calendar year. 1035 amounted to 54.810 short tons, compared with 40,124 tons in 1934 and 45,670 tons in 1033. Present estimates of the 1936 crop of all varieties combined are about 170,000 to 180,000 short tons, or approximately 10 per cent less than last year's. The market on unbleached Thompson s has not changed materially, but is firmer now that little or no more off-grade, stociv is being offered at cut prices. Contrary to previous years there has been comparatively little business done so far in new crop golden bleached. This lias been due to the high prices demanded by growers for their fresh Thompsons, making it unsafe for dehvdraters and speculators to sell short at the level of many bicls received from Europe on golden bleached during the past two or three months. Unless the European trade is prepared to pay higher prices or an unexpected change should weaken the market on fresn grapes, the output of golden bleached tins season may be considerably below that 01 former years. Wholesale Current Prioes. Butter. —Finest grade, booked, l/2Vz per lb and 1/2 for prompt cash; first grade factory, booked, 1/2. and \/Vh for prompt cash; second grade factory, booked,,l/1 ,s, and 1/1 for prompt cash; whey, 1/1, and l/OMi for prompt cash. Cheese.—Export (80's), BVid per lb; medium (40's), 8V&d; first quality (-0s), S%d; loaf. 914 d. Honey.—Bulk white, £Vid per lb; light amber, 4%d. Bacon.—Ham, 1/1 per lb; rolled boneless ham, 1/3; cooked whole ham, 1/3; cooked rolled ham, 1/7; cooked pressed ham, 1/8; bacon sides, lOd; rolled sides, 11 /£d; rolled middles, 1/1; pressed shoulders, 1/1; lard, bulk, 8d; pats, 9d; dripping, sd. Linseed. —Crushed, 16/9 per 1001b; whole, 16/6 per cwt. Flour. —Local, 2001b sacks, £14 12/ per ton; 100's, £15 12/6; 50 s, £15 17/6, 25 s, £16 7/0; 12%'s, £17; 6%'s, £17 17/0 Malt.—Crushed, 10/3 per bushel; whole white, 9/6; whole black, 11/6. Bluestone. —28/6 per cwt.