MARKETS AT A GLANCE

Auckland Star, Volume LXIX, Issue 120, 24 May 1938, Page 4

MARKETS AT A GLANCE

ACTIVE CONDITIONS RULING. NEW SEASON'S PILCHARDS QUOTED SMALLER PRIED FRUIT CROP. "Auckland Star" Office, Tuesday, May 24, 1938. With grocery merchants now in the full swing of their June deliveries this week, all departments are very active and these conditions are expected to prevail for at least another ten days. Alail order businews from tile country also has been particularly good for some davs, and merchants are making every effort to forward retailers' orders as quicklv as possible. General News. Quotations lor new season's figs have been named for September shipment. Little interest is being taken as yet, i merchants considering that it is rather earl> to cover as ah shippers' prices have not yet been named. Quotations for new season's asparagus are also advised, with prices on this line considered most favourable, and a fair amount or business is being done. In pre-1 vious years the most favoured packings ha\ e been quickly sold up, and therefore the tendency is to cover requirements early this .year. In view of the general shortage of tinned pilchards, a small quantity of Californian pack are due to arrive here very shortly. Prices of this line are very much higher than previous arrivals, but in view of the shortage it is expected that when this next shipment arrives it will go into consumption practically immediately. Latest advices in connection with the market for ground almonds is that this line in last cables received is a little easier. Ihe trade in general are taking particularly keen interest in merchants' offers of packet apricots, peaches and prunes, all varieties being in <lcmand.

The dearth or Epsom salts, due to tin recent epidemic, lias now been alleviatcc by the arrival of fresh supplies, and stock; are now considered to be ample fm all requirements. Merchants are experi cncing an exceedingly heavy demand 01 supplies of pearl bailey, split peas am winter cereals, the recent demand having caused a heavy drain on merchants stocks. 'Ihe recent cold snap has been the canst of a noticeable appreciation in the salt 'of cheese, and with most factories elosinj. down shortly, it is very definite that soni< brands will be very quickly off the market until new season's supplies are again avail able during the latter part of the year. One packer of Norwegian sild, in advis ing lower prices for new season's suppiy indicates that they do not expect anj lower quotations to be made during tht coining months. On the contrary the.\ indicate that an increase is quite * likely They indicate that owing to the regulation of the pack after the establishment of the sild ccntral, there will not be an over-production, and packers if they arc unable to obtain business on present rates may postpone packing their quota until later in the year. A well-known brand of hair cream i: now being offered to the trade under a bonus proposition of one tube of shanipoc free with each bottle of hair dressing This offer is designed both to increase the distribution of the hair cream and tc serve as a means of introducing tht shampoo, which will later be marketer j here. Supplies of southern potatoes liavt been rather short during the last few weeks, but this position has now lieer rectified and ample stocks are available As a consequence prices are inclined tc be a little easier. Arrivals from overseas and coasta ports during the past week comprise khip mcnts of medicinal pills and ointments Epsom salts, electric lamps, Haricot beans Indian split lentils, bulk curry powder 4oz tins and 4oz bottles curry powder Rangoon rice, peanut kernels, asparagus laundry soap, sheeps' tongues, breakfasl foods, malt extract, packet tea. breakfasl cereals, oatmeal, medium and fine s's an, 25's, rolled oats, 4's, 20's and 100's, wa> vestas, flats, small and large; peameal washing powder, etc., etc. Californian Dried Fruits. Market reports to hand indicate that ; smaller crop of Californian dried fiui than last year is anticipated, and in con sequence a firmer tone in the market ii indicated. There are still a number o lines available from last year's crop which are offered at particularly attractive rates for shipment later this yeai when trading is Jieavicst. There hat been a considerable interest in tliii market, and most buyers are coverim sufficient requirements to meet tiii; winter's demand. Australian Sultanas. The Commonwealth Dried Fruit Control Board have advised that all orders placeil for one-crown sultanas will be executed in full. They state, however, thai delivery can only be made as this crown becomes available, so that shipments will be spread to August 31. No furthei orders for one-crown sultanas will be accepted. Two-crown sultanas are definitely short, and they advise as far as possible future business should be 75 pel cent three-crown against 25 per cent twocrown. Pilchards. New season's quotations for British Columbian pilchards have just been announced for shipment, commencing July-August, with deliveries spread to April 30 next. The prices named show an advance on last season's Quotations and j:ood business has already been book-el. There is an increased demand for this fish, which is proving very popular with the public. The present local stockposition is very low, and a considerable amount of inter-house buying is taking place at premium rates. Pepper. Pepper quotations are still at an exceedingly low level, and the market during the week has remained at unchanged levels. Pineapples. Latest information in connection with the Singapore pineapple market indicates that at last quotations are commencing to firm, two advances taking place last week. Owing to the abnormally low figures previously ruling on this market the general opinion is that there is room for further improvement, and higher values are therefore expected. Tapioca. The market for tapioca is fluctuating within a narrow margin, and present values must be considered very attractive buying. The latest report just to hand is that at a meeting of tapioca millers held in Penang, it was decided to reduce the output by approximately 20 per cent. At the same time latest advices received from the Indian quarter are that there are prospects of an increased demand, and this, together with the arrangement to reduce output, should have the effect of maintaining prices at a higher level than at present. Desiccated Coconut. The market for desiccated coconut has ruled at very low levels for some time. Latest cables received indicate that the position is now commencing to improve, and prices are moving up for both prompt and forward shipment. Alaskan Salmon. A report received "regarding the Alaskan salmon position states that the canned salmon industry finds itself in a serious predicament. For the first time in history as of the month of April in any year, the canned salmon industry and union labour are stalemated. Negotiations have been under way since late in January. Union labour opened with a demand for increased wages or from 25 to 35 per cent for the coming season. The salmon industry had yielded to a 30 per cent increase in wages for the 1937 season. Against the 1937

wages scale, the industry was compelled to set its selling prices for the production of that year higher. Pinks were established at 1.25 dollars, Chuins at 1.20 dollars, other varieties higher in proportion. The canned salmon market collapsed under prevailing economic conditions, which made the increased selling prices unworkable. Substantial losses have been taken as a result of the sharp market decline. The industry presented proof of its inability to function at a break-even point unless a wage scale of 10 to 20 per cent, according to districts below that of 1937, be adopted A reasonable adjustment between the salmon industry and labour is essential for 1938 or cannery operations must be suspended-: About two weeks ago the leaders of union labour indicated willingness to consider tiic 1037 wage schedule. An analysis showed the base of pay to be the same as last year, but conditions wore injected which would actually mean increased payrolls. The packers, knowing the futility of last year's scale, have had to maintain the need of reduction to labour costs. At the time of writing there was still no prospect of agreement, and even if an 1 immediate settlement were to be reached numerous canneries would at this late date be unable to operate. Normally, can-l ners crews, tenders and supplies start fori the westward areas in Alaska as early as the middle of February, and more intensively through the month of March. Movements in South-eastern Alaska stai late in March and develop more actively early in April. To date no crews. iu> tenders or supplies had been shipped to any part of Alaska. Canadian Tomatoes. One packer advises a reduction of 10 cents per .dozen on tinned tomatoes for prompt shipment. This should be particularly attractive in view of the current stock situation. Sicily Almonds. In recent cables Sicily almonds have shown a further advance of 5/ per cwt, and the market is reported by London principals to be particularly firm. Sicily Filberts. Sicily fillK?rts show an increase this week of 1/ per cwt in sympathy with the firm tone of all Mediterranean lines at the present time. Brazil Nuts. Native cracked Brazil nuts for shipment from point of origin are advised by principals as having advanced %d per lb. -Most buyers are, however, fully booked at lower levels. Fruit Juice. A new line of fruit juice, orange and grapefruit, is quoted by a noted American packer. This is quite a new line to this market, and with the increased interest now being taken in foodstuffs of this description it should meet with a popular reception. Wholesale Current Prices. Butter.—Finest grade,, 1/2% per lb; first grade factory. l/2!4 per lb; second grade factory, 1/1% per lb; whey, 1/1% per lb. , Cheese.—Export (SO's) crate lots, B%d per lb net, less 9d per lb; medium (40's) crate lots, 9d per lb, less O'/id per lb net; (20's) crate lots. 9M>d per lb net. less 9%d per lb net: loaf crate lots, lOd per lb net. less 10'4d ner lb net. Bacon.—Ham, 1.2V-j per lb; rolled boneless ham, 1/5; cooked whole ham. 1, 6: cooked rolled ham, 2/: cooked pressed ham. 1/10: bacon sides. l'l; rolled middles. 1'4%. Lard, bulk 8d per lb; pats, 9d. Dripping, pats, 4Vsd per lb. Honey.—First grade: lib cartons, 10/6 per dozen; 21b tins, 20/6; 51b tins, 51/. Second grade: lib cartons, 9/3; 21b tins, 18/; slb tins, 43/6. Third grade: lib cartons, 8/; 21b tins. 15/6; 51b tins. 38/9. Flour.—Local: 2001b sacks, £14 15/6 per ton; 100's, £15 12/6: 50's, £15 17/6; 25's, £16 7/6; 12%'s, £17; 6U'a, £17 17/6. Malt.—Crushed, 11/3 per bushel; whole white. 11/; whole black, 12/6.