MARKETS AT A GLANCE

Auckland Star, Volume LXIX, Issue 192, 16 August 1938, Page 6

MARKETS AT A GLANCE

STEADY TRADING.

SEPTEMBER DELIVERIES NAMED.

RANGOON BICE MARKET FIRM.

-Auckland Star" Office, Tuesday, August 16, 1938. An improvement in town trading has been experienced by 'merchants, but owing to country districts being in the period of "in between seasons," trade .from that quarter ie inclined to be a little quiet, which is in keeping with the time of the year. Mid-month tobacco deliveries were commenced to the country districts yesterday and are being delivered throughout the town area to-day. Booking for general tjelivery as September 1 is advieed as commencing to the country districts on Monday next, August 22, and in the town area on the following Thursday. General trading conditions are expected to show an improvement this week as booking for September ie expected to come to hand in increasing volume. General News. Quotations for new season's' preserving jars have been named, and although on a different basis of selling to last year, being on a uniform reselling r'ate with discount according to quantity, the maximum works out approximately at the same price level as last year. With the arrival of the s.s. Taeman from the East, further supplies of Rangoon rice, eago and tapioca, pineapples and peanut kernels have come to hand. In regard -*to the latter this consignment arrived to & bare market and already as a result of orders in hand some merchants are advising that they are out of stock, with the next shipment not due until approximately early September. There is a growing demand for "superior" seed tapioca owing to the very excellent quality of same. Local stocks have been very light, but the position has been adjusted by the arrival of fnrther supplies this week. In readiness for the coming season interest ie now being taken by storekeepers in merchants' offers of numerous summer commodities. From previous experience in the past it has been found that early bookings generally prove advantageous to storekeepers, as markets have invariably firmed later in the year. In the Australian rice market there hae not been any change in quotations, and orders are being accepted for delivery at buyer's convenience within the next three months from date of booking. In spices the general tone of Eaetern markets has improved a little over the past month. Stocks of peppers held in London show a further decline and it is likely that the next crop will be lighter than that of the preceding two or three years. The new crop of cloves also is expected to be smaller than usual, and higher prices are therefore forecast. All types of Japanese chjjliee are practically unprocurable, end ;there~ will tiot be any change in the position until the new crop becomes available later in the vear.

In coffeee the; market for all descriptions of Moehs, continues firm .and strong owing to the ! scarcity of supplies. Latest advices from Java report that the market is firm and showing an upward tendency. In needs the market for all Manchurian seeds is much'' firmer. Stocks held in Japan are steadily and_ owing to the increased .demand from China for edible purposes prices.are expected to go much higher. Latest - reports. from the Argentine adyiae that .the market for canary seed is much easier, and it is expected that prices will decline further. One .local manufacturer of fruit extracts, which have a> fairly extensive sale, has advanced prices for the coming season by 2% per cent. A new line of cleansing and washing powder having large sales abroad is nowbeing .introduced to thk market to retail at the popular price' of 6d per packet. .A line .of cigarettes packed in 15 to a and retailing at 1/, which have so far been offered only in a few localities ito test the market, have now been I released for general sale. 1 A pew brand of packet breakfast food ie being released to the trade this week, backed by a heavy radio and Frees advertising campaign. . • - Arrivals to hand from overseas and coastal ports during the past week com.prifte consignments -of cream of tartar, poultry spice, bath salts. Para Brazil nuts, bulk cornflour, balk salt, chewing gum, crockery, Australian 2 and 3-Crown currants, 1 and 2-Crpwn eultanasv 3 and 4prown choice apricots, cake and custard powder, baking powder, breakfast foods, oatmeal s's atid'2s*s medium arid coarse, rolled oats 4'e, JPs and- 100*8, medicinal emulsion, soap extract, boric acid. Californian prunes' 20/30 V SO/iO'e and 80/90's, fancy seedless . raisins in 15oz packets, tobacco, cigarettes. Australian canned pears and halves peaches, cleaning powder, nut kernels, cough remedies, cigarette papers, wax matches, l's tins sweet corn, sardines %'s, unwrapped and wrapped, herrings in tomato sauce, canned peas fn 10%oz eize. tomato soup and ketchup. 16%0z bottled white vinegar, mixed pickles, etc., etc. Rangoon Rice. Cables just to hand in connection with this market advise a sharp advance on previous rates. The market is firm at present rates and is considered likely to remain so. Resin. The American market for resin. continues to fluctuate, with recent quotations showing an easing tendency. Latest cables show that G grade is lower by 7/ per ton and N grade by 3/6 per ton. Today's level is somewhat higher than that experienced about two months ago. Turpentine. The market for pine tree turpentine has remained steady for some time, but laet week cables were received showing that the market has shown a slight upward movement, prices now being %d per gallon higher.

Sicily Almonds. New season's supplies of Sicily almonds are still being quoted on a most irregular basis, and" apparently the market is taking a long time to settle. A number of agents have had advice to raise their prices, but in other directions it is still possible to obtain confirmation of orders at the lower rates on offer tome weeks ago. Shippers of ground almonds have not advanced the prices which have ruled during the past few weeks, consequently buyers are under the impression that the higher prices for Sicily almonds are not likely to hold. Further information on the markets for both Sicily and ground almonds is anxiously awaited. Dates. Considerable interest has been shown during the past few weeks in new season's [pitted dates packed in Bob and 16oz cellophane packets. Prices are considered [ most favourable, and a fair amount of ' i business has been booked for shipment by I the October direct steamer from Basra, via I Australia. Brazil Nuts. Most of the shipments of new season's Brazil nuts in shell are now to hand, and are meeting with a steady sale, although the main demand is for the Christmas trade later in the year. Supplies of highly polished and processed Brazil nuts, which are very popular sellers in America, are being imported to this market this year, and although these are naturally higher in price owing to the excellent quality of the nuts, they are expected to sell readily. Only a small shipment is coming to band this year, and owing to the. time necessary in the processing of these nuts, supplies are not expected to arrive until the end of October or early in November. Setdt. Lower prices for both Argentine and Turkish canary seed are again available [this week, and the market is now down i to almost the lowest level for some yeans. I Only limited business is passing at the i moment, as, most merchants booked their I supplies some'months ago at higher prices. Stocks of Manchurian millet seed are now

very scarce in Dairen, consequently higher prices are being asked for any parcels available. This applies to both white and red grades, but supplies of Awa millet are i sold out. Considerable quantities ot | Argentine millet seed have been imported this year, but whilst this eeed is suitable for certain mixtures, the main supplies will continue to be drawn from Manchtiria, when plentiful quantities are again available. The quality of the Manchurian I seed landed here so far this year has not been up to the same standard of quality as in former years, but under existing conditions this is not surprising. Quotations for the new crop of Manchurian seeds for December-January shipment are not yet available, but it is anticipated that these will be on a higher basis than this season. Pineapples. The market for Singapore pineapples remained steady, with small reductions in i H4lb sizea. The direct steamer is ■ scheduled to sail to-morrow from Singapore, and sellers therefore are unable to take any further orders for this sailing. Tapioca. Quotations for tapioca are remaining steady, with medium pearl being quoted at 2/6 per ton lower. To-day's level is considered to be quite attractive, but very little business is passing as most of merchants' immediate requirements have already been taken care of. Nutmegs and Mace. Nutmegs 110's ore unchanged, but sound shrivelled and broken are quoted as being fractionally lower. Mace on the other hand remains fairly steady at last quotations: Pepper. The market for pepper continues lifeless with quotations if anything a little weaker. Coconut. Latest cables received in connection with offers for Ceylon desiccated coconut indicate that the market is tirm and showing an upward tendency. Wholesale Current Prices. Butter.—Finest grade, 1/2% lb; first grade factory, 1/2V4; second grade factory, 1/1%; whey, 1/1%. Cheese.—Export (80's), crate lote, 9%d per 'lb net, less 9%d lb; medium (40'e), crate lots 9%d lb, lees 9%d lb; (20'e) crate lots lOd lb, lew 10% d lb; loaf, crate lote 10% d lb, less lid lb. Bacon.- —Ham, 1/2% lb; rolled bonelsse ham, 1/5; cooked whole ham, 1/6; cooked rolled ham, 2/; cooked pressed ham, 1/10; bacon sidee. 1/1 lb; rolled middles, 1/4%; lard, bulk 8d lb, pats 9d; dripping, pate, 4%d lb. Honey.—First grade: lib cartons, 10/6 dozen; 21b tins, 20/6 dozen; 51b tine, 51/ dozen. Second grade: lib cartons, 9/3 dozen; 21b tine, 18/ dozen; 51b tins, 43/6 dozen. Third grade: lib cartons, 8/ dozen; 21b tins, 15/6 dozen; 51b tine, 38/9 dozen. Flour.—Local, 2001b eacks, £14 15/6 ton; 100'e, £15 12/6; 50'e, £15 17/6; 25'e, £16 7/6: 12%'s, £17; 6%'s, £17 17/6. Malt.—Crushed, 11/3 bushel; whole white, 11/ bushel; whole black, 12/6 buehel.