MARKETS AT A GLANCE

Auckland Star, Volume LXVII, Issue 297, 15 December 1936, Page 4

MARKETS AT A GLANCE

UNPRECEDENTED BUSINESS

JANUARY DELIVERIES COMMENCED. '■'Auckland Star" Office, Tuesday, December 15, 1936. During the past few days all departments in the wholesale trade have been sc I busy that it has been practically impossible to cope with all the business ottering. General News. All business transacted during the next | few days is being put tkroueh as January j account. r J.he middle ot' the month | tobacco deliveries also commence tomorrow. As merchants are already working at high pressure the heavy volume oi business coining to hand is making it very difficult for merchants to transact ail retailers' requirements on time. The extra pressure brought about by the holiday yesterday in view of the close proximity I to Christmas has also created a position | closely approaching chaos. Many departI nient.s have been consistently working overtime during the past few weeks in an endeavour to cope with the position, but through having to close yesterday, the position has been definitely accentuated. A small shipment of Sicily almonds is advised as being due to-morrow. The retail trade is very anxiously waiting 011 this stock, and it is expected that wholesale supplies' will be quickly cleared although the arrival is so late. A small shipment of Greek currants is due in Auckland about the 22nd; this consignment also is very late, but due to the extreme shortage of Australian grades, it is expected that there will be quite a demand for supplies ex this consignment. The first of new season's supplies of dates are due here also about the 22nd. In this case the variety most in short supply arc the pitted type, and merchants will make every endeavour to get supplies away to the various storekeepers beforo closing for the Christmas holidays. Supplies of figs are now getting short. Packet lines are just about practically depleted, but there is still a fair supply of 71b and 281b bags.' A line of Cohoe salmon in a /41l> tins has just come to hand. Small supplies of this size came forward last year and were quickly cleared. The size is particularly adaptable for picnics and is expected to have a ready sale. Preserving jars are now commencing to sell, and merchants are now advising the retail of various quotes for new season's rubber rings which came to hand quite recently. Numerous packings of Singapore pines are now in short supply, with 110 further consignments available until the next direct steamec arrives in January. Second grade, which are always heavily in demand are completely sold up. New Zealand walnuts are now out of stock. A well-known line of assorted chocolates is now being advised as sold out in many quarters, owing to further supplies being unobtainable from the South in time for Christmas. The confectionery and biscuit trades, and particularly those who are receiving supplies from the South Island are finding it extremely difficult to cater for the demands of the.trade owing to the difficulty of securing ■ adequate supplies. Heavy shipments were brought forward some time ago in anticipation of the demand, but in the majority of cases these have proved quite inadequate. In the wholesale grocery trade many shortages are evident at this time, and retailers recognising the position are quite pleased to allow merchants to sub: stitute to the best advantage. Stocks of last season's local packed canned peas are practically sold out by most merchants. Shipments of Australian are coming to hand to help tide over the demand until the arrival of a new pack, first consignments of which should arrive very shortly. The new season's quotations for local pack show an increase of M per dozen for the small and Cd per dozen for the large size. A new line of Australian mustard sauce just introduced is meeting with a good demand, and is expected to sell well during the next few months. A new brand of cigarette papers is being introduced, and the reception by the trade is proving quite satisfactory. A lino of ice Cream powder suitable for household purposes has just arrived, and the prevailing weather conditions have made it an interesting proposition. All attractive pack of musk-flavoured chewing gum is being introduced, and sales of this line are proving excellent. Advices received from Australian millers indicate that the rice market is remaining steady. They also indicate that in spice lines stocks of ginger are now very low, and it does not seem likely that the position will be relieved until neW season's supplies arrive from Africa about the middle of next year. It is now impossible to obtain any quantity of pimento from the West Indies; quotations for pepper, nutmegs and mace are remaining steady. No material change of importance has taken place in coffee during the past few weeks.. Supplies of millet seeds of. all descriptions as well as hemp seeds are still available at reasonable rates. Arrivals from overseas and coastal ports during the week comprise shipments of English meat and fish pastes, cigarettes, Worcester sauce, curry powder, herrings in tomato sauce, liquid rennet, anchovy sauce, English essences —lemon, almond and vanilla, .bottled capers, jars of bloater and anchovy paste, calves' foot jelly, bulk Ceylon tea, chewing gum. mustard sauce, nitrate of soda, baked beans, mincemeat, spaghetti, bottled olives, mayonnaise, salad cream, horseradish, baking powder, slieeps' tongues, laundry soap and powder, chemists' sundries, breakfast foods, rolled oats,' malt extract, wax matches, boot polishes, hops, cake cleaning powder, etc., ctc. Resin. The French "market for resin continues to show a very strong tone, late cables received showing an advance of a further £1' 2/6 per ton, bringing quotations to the highest level 6een for a very long time. Eastern Steamer. Latest advices in connection with the direct Eastern steamer, the Narbada, indicate that this vessel lias' not been able to lift all the available cargo from Penang and Singapore, and the Karetu is bringing the balance that has been left over. This will not include any of the Auckland portion, which it is understood is 011 the Narbada. Tapioca. The market for tapioca continues steady and featureless, quotations showing lVsd per cwt reduction 011 all grades. A parcel was put up for the next direct steamer sailing at counter offer rates, but 'so far it is not known whether shippers have been able to accept same. Pineapples. Quotations for pineapples are fluctuating somewhat, most lines being about Vsd per dozen lower, with the exception of first quality cubes, which are quoted at %d per dozen higher. A fair amount of business has already been done for the MarchApril steamer. Nutmegs and Mace. Supplies continue short on mace, one seller still being unable to quote," while also advising no supplies available of nutmegs 110's and broken. Sound shrivelled are listed at a reduction of %d per lb. Rice. Rates for old crop Burma rice have continued to advance according to a recent mail report, this being due -entirely to the November speculative position. There are still several speculators short for this month, and they are being forced to pay artificially high prices in order ,to obtain their cover. There is no demand from India or outside markets whatsoever for old crop. New crop rates are firm in sym-' pathy with old crop, although they have not advanced anything like as much as old crop. There has been, liowerver, a fair

! amount of support forthcoming from European shippers in the shape of purchases of Loouzain qualities. Reports from India seem to indicate that the new crops there are generally in good condition. The total quantity of rice and rice products exported up to date amounted to 2,871,011 tons, leaving a balance of 628,989 tons. Olive Oil. After having been quoted at slightly lower values for some time, the price of I olive oil has now, in cables just received, shown an advance of a further 1/ per j gallon. It is not considered that this inI crease will affect tile market meantime as good stocks are held locally. Currants. Agents state that they have received advice from the Commonwealth Dried Fruit Control Board advising that pending new season's supplies of currants there Iwill.be no more 2 or 3-Ci'own available from Australia this season. There is. however, an extremely limited quantity of I 1-Crown still to j bc had. There is just the difficulty that merchants will be unable to bring forward any further supplies in time for the demand between now and Christmas, when ti'.e demand is so heavy. Canned Peas. Advices to hand from the packers of a popular ]ine of Australian canned green peas state that the prolonged rains and cold weather has delayed maturity of the crops. It was expected that canning operations would commence about the last week in November, and as stocks accumulate pro rata shipments would be made early in December. Peanuts In Shell. The first shipment of peanuts in shell which are expected to arrive about the 21st of this month are being eagerly awaited by merchants, as supplies of this line have been unusually short for some time. There has been a very heavy demand for nuts of all descriptions for Christmas trade, and the market at the moment is absolutely bare. Overseas rates quoted for shipment early in the New Year are approximately £1 per ton higher than last quotations, and' the forward position is reported to be very firm. Madagascar Beans. Latest advices received by cable indicate that owing to heavy buying from America the market for Madagascar beans is particularly firm just at present, and further advances are considered likely. Present rates are considered to be very attractive. Dates. Cable quotations for new season's dates for shipment from London during December and January show an increase of Cd per cwt on last rates. Wholesale Current Prices. Butter.—Finest grade booked, 1/2% per lb, and 1/2 for prompt cash; first grade factory, booked 1/2, and 1/1% per lb for prompt cash ; second grade factory, booked 1/1%, and 1/1 per lb for prompt cash; whey, 1/1, and 1/0% per lb for prompt cash. Cheese.—Export (80's). BVid per lb; medium (40's), B%d per lb; first quality (20's), 89id per II): loaf. 9d per lb. Honey.—Bulk white, sVid per lb; light amber, 4%d per lb. Bacon.—Ham, 1/2 per lb; rolled boneless ham, 1/4; cooked whole ham, 1/G\ cooked rolled ham. 1/7: cooked pressed ham, 1/8: bacon sides, ll%d; i oiled sides, 1/1; rolled middles, 1/2; pressed shoulders, 1/1. Lard: Bulk, 8d per lb; pats, 9d. Dripping: 5d per lb. Linseed. —Crushed, 16/9 per 1001b; whole, 1/6 per cwt. Flour.—Local, 20011) sacks. £14 5/6 per ton; 100s, £1,5 12/0: 50's, £15 17/6: 25's, £16 7/6: 12%'s, £17; 6Vi's, £17 7/6 per ton. Malt.—Crushed, 10/3 per bushel; whole, white. 9/6 bushel; whole black, 11/0 bushel. Bluestone. —28/6 per cwt.