MARKETS AT A GLANCE

Auckland Star, Volume LXX, Issue 137, 13 June 1939, Page 4

MARKETS AT A GLANCE

TRADE IMPROVES. TOBACCO DELIVERIES THIS WEEK. NUMEROUS LINES LISTED AT ADVANCES. "Auckland Star'" Office, Tuesday, June 13, 1939. Business continued in good volume during the whole of the past week. Wholesalers opened up yesterday to a fairly good day and during the week fairly heavy trading is expected, particularly in the tobacco section, where orders for the midmonth delivery are now coming to hand. These will be executed towaids the end of tlie week. General News. After _ a shortage of stocks tor some weeks, tun her supplies of a well-known brand ot packet dates have now come to hand, and although prices show an increase these are moving out quite rapidlv. _ 1-iirther consignments ot Canadian pionnets came to hand during week bv tliu -Monterey, relieving shortages which were being felt in a number of lines, such as canned peas, cut green beans and canned tiuit 111 vai ious varieties. Supplies ot powdered borax have been •»hort, 111 some qiMiteis and a .shipment which came to hand last week is bcineagerly .sought altei. J'urther shipments have come to ham] during the past week ot desiccated coconut in Valiums packings, which will relieve a shortage which had developed 111 some sizes. Owing to the inability to obtain supplies of high grade Australian peaches, due to the ciop failure, a shipment of Cali-l.-inian lain-y peeled peaches which have just landed will be very welcome and merchants.' stocks ate rapidly moving into retailers hands).

Spot stocks o: powdered alum are particularly short just at present, with the Jesuit that a fiiir amount of inter-house buying has been taking place. Ol great interest to the trade in general will be the otters made by some merchants tor canned salmon, pilchards in sauce and J ortugues-e sardines. It is understood that his will be the final shipment which will be available, and the offers have been made possible only by shippers agreeing to leave their funds in New Zealand A well-known brand of Englis.li herrings in sauce is also being olfer«d to the trade, it being understood that licenses to procure these wete obtained on the understandings that the importers provided their own London hinds and make no call I.n the sterling reserves of the Reserve Bank. Ihe entry of these lines- cannot be taken to mean a relaxation in the import restrictions as the circumstances involved are somewhat exceptional

-Manufacturers of paper bag* advise an advance in price in all sizes and shapes amounting to approximately 2'/i per cent. In response to many inquiries, a southern cough remedy has now been introduced to the Auckland market and will meet with a ready demand owing to tinfact that it is being advertised extensively over the air.

Advice has been received from the agents of a well-known line of mustard packed in 4oz tins of an advance in price amounting to 1 15 per dozen. Local packers of tinned ox tongue- have advised ,1 substantial increase in price, which follows the recent increase l.v southern packers. Small jars ot' meat and fish paste hare also advanced slight Iv. A well-known brand of cat ton seedless raisins previously in short supplv ha.-» come _to hand during the past week and supplies are beinz eagerly sought after, as there is likely to be sonic little time elapse before further consignments arrive. Lines temporarily short in some quarters are unpolished rice, with supplies available in about u fortnight's time. Supplies- of large size coffee and milk are temporarily out. with further supplies due this- week. Small and large size cough remedv from the south are out. with consignments now due. English ox tail and genuine turtle soup ai,- out of s-toi k. with 110 further supplies procurable. Further supplies of a well-known brand 01" English gravy browning are due to land in approximately It days.

Arrivals to hand front overseas ports and the South Inland during the past week r-oinni ise the following lines- of goods: --California)! tinned prunes in 30'40's glide, special quality partly Peeled neaches, (alifornian bulk prunes in the following sizes. IS'24's. 20.30'--. 30'40's 4ft 50V. 50 '60V. 60 70'--. 70 'ROV. carton seedless i.ii-in.--. bulk Thomson's seedless r.iisitw. bulk carbonate r.f soda in lewt and 2eut bags. English poultry spice, baled English twine. s|b bag* English iodised salt, tobacco in various packs, bor.icie acid powdered borax, fancy peeled peaches, bulk Covlon tea. Australian rice, carton and bulk loaf sugar, bulk desiccated coconut in quarters and 1301b chest*, map. extract. 25V coarse and medium oatmeal, rolled r-ats in 4's. 50V and 100 V. s's medium and fine oatmeal, custard powder. Inking powder, medicinal nren.irations. cigarette? and tobacco, tinned friof -.-alad in Ifioz and 30oz tins, bulk golden blear-he,] raisins-. 2S'«. natural seedless raisin-', lloz cartons raisins, etc.. etc. Lentils. The matket for Indian split lentils is particularly firm just at present, late cables received advising an increase of £1 10/ per ton for shipment during Juno Reports indicate that the matket is particularly firm, with a rising tendency. Peanut Kernels. Some fluctuations have been noted in the market for peanut kernels, with a tendency for firmer rates. At. present business is being booked for shipment of new season's for July-August steamer. Local supplies are short in some quarters. Resin. The market for American resin is remaining fairly steady, according to latest cables to hand. X grade is quoted at unchanged rates, while G grade is listed .i: an increase of 2/ per ton. Turpentine. Tlieie has been very little movement in the market for pine tree turpentine for some weeks, prices quoted to-day being on the same basis as previous levels. Business is quiet, with only small orders passing in the way of fill-up quantities. Tapioca.

In tablet- to hand last week prices for tapioca arc again easier to the extent of 3<l per cwt on I'enaus seed, and l'.id per r-wt on lVnang medium pearl. To-day's ({notations are considered to be at a very attiactivc level, but orders passing are in small compass owing to the restriction of imports, which amount to practically 50 per cent on buyers' previous importation*. Nutmegs and Mace. Nutmegs are again a shade easier all ! round in latest advices to hand, prices being quoted at about %d per lb lower. Mace, on the other hand, is a shade lirmer to the extent of %i\ per lb. Spices. All quotations lor pepper have been listed at exceedingly low levels lor somo time, and by many were thought to be o:i rock bottom. Contrary to expectations advices received last week indicated a still furthei- slight decline in this market. Australian Dried Fruits. The Commonwealth Dried Fruit Export Control Board report* sales of .500 tons of Australian dried fruits in Britain during the week ended May 2j. Shipments to Great Britain to date amount to 23.780 tone, while shipments to other destinations totalled 10,918 tons. Dried Fruits. A recent mailed report advises that the market for prunes has strengthened, and it is estimated that present stocks in California are 35,000 tons less than last year at the same time. Present indications are that the new crop will be much less than 1938. and stocks of .apricots are almost cleaned up. Indications are for a good crop this year, although there is still the ..(> r-ibi'ity of it. brin- icdiii-'l 1.-.c!: I

Prices for raisins continue firm, «|ith, midget bakers' type now scarce. All indications are for a large crop this year, although it now appears the Oalifornian State Prorate Act will again be invoked which will stabilise the market.

Stocks of peaches are ..very low, particularly on lower grade*. Orop prospects are very good. Stocks of pears are also email, with prospects pointing to a good crop. Stocks of apples are light, with choice grade entirely cleaned tip. • It is a little too early to estimate the crop. Ceylon Tea. A mail loport from Colombo under date May 8 advices that there was no sale on the 11th April owing to the Easter holidays, but the accumulated supplies were disposed of ;it the auctions of the 18th and '2-ith. Total offerings amounted to 7,.T04J011b, as compared with 9,576,.3601b auctioned in April, 1938. when, owing to the lateness of Easter, accumulated supplies were not fully 'disposed of until the rivet auction in May. This falling away in supplies as compared with previous yeais was anticipated in the last report, and may be attributed to tho brought conditions prevailing throughout Ceylon during March. Despite the seasonal but gradual decline, in quality throughout April, high-grown and medium 8.0.P.'s I realised very favourable rates, and were keenly competed for, particularly by Australian and South African operators. The corresponding leaf teas were also well supported, but prices declined according to quality; nevertheless, taking into consideration tho very high price level which lifts been maintained for these teas, they ate still sellintf very satisfactorily. Eowgrown teas were slightly dealer at the first auction, and prices were fully maintained throughout the month, a feature being the very strong demand for Pekoes and Orange Pekoes. Very welcome rain was ex]K>! ii-nced from the middle of April onwards-, which to a certain extent relieved the serious position caused by the shortage of water throughout the island, and this rain has had the effect of biinging on crops whilst at the same time having a somewhat adverse effect on quality. Estate advices and musters indicate that fairly liberal supplies will Imavailable during the next few weeks, but that quality will show some further decline. Nevertheless offerings during May "ill in all probability not be quite so liberal as is usual. Exports to the United Kingdom were considerably less than during April, 1935, but this may be attributed to the smaller supplies available. Exports to other consuming countries call for little comment, althoutrh it is noticeable that the figure for the United States shows a welcome increase. Exchange: Due to unsettled conditions in Europe discount rates in London advanced slightly, and this had the effect of increasing the margin in I the usance rates.

The total export distribution of Ceylon tea from .Tannarv 1 to April 9 amounted to 58,06(>.3881b. Out of this Great Britain took 44).]*M,<H61b. Australia. 3.228,1041b, Xew Zealand 2.131,9781b. South Africa '2.477,8081b. other countries in Africa .196.6891b. Egypt 946.5641b, France 370.0831b, Germany 06.7001b, United States 4.400.!>291b. Canada 2.481.3.531b, South America 1W.392Vb, China 89.0731b. Europe (excluding France. 1-tussia and Germany) 443.6461b. Russia 32.73.11b, Straits Settlements 200.01S!-b. .la pan 23.5201b. Iraq 191.5151b, India 69.7031b. all other ports 434,4821b. Wholesale Current Prices. Butter. First grade, pats l/4'/2 lb, bulk 1'4%; second made, pats 1,'4'.4, bulk 1/4%; whev, pats 1/3V4 lb. Cheese.—Export (80s), crate lots, 9%d lb; less. lOd per lb; medium i4o's), crate lots, 10.1 per lb: less, Kl'/id per lb: (20"s) crate lots, 10V4d lb: less, lOttd lb net: loaf, crate lots, 10*4»I lb net: lees, IVAI per lb net. Bacon. —ILirn. lb: 1 oiled l>oneless ham. 1-'4H per lb: cooked whole ham, l's'/a lb: t-ookrd rolled ham. I'B lb; cooked pressed ham. 1/10 lb and 2-' lb: bacon sides. 1 OVi lb: rolled middles. 1/5 lb. Lard, bulk 8d lb. pats 9d lb. Dripping, pats 4V4d lb. Honer. -First grade: lib cartons. 11 '6 dozen; 21b tins. 22'0 dozen; 51b tins, 56/6 dozeii. Second tirade: lib cartons, 9/3 dozen: 21b tins. 18/ dozen; 51b tins. 43/6 dozen. Third grade: lib cartons. 8/ dozen; 21b tins. 15'6 dozen: 51b tins, 38/9 dozen. Flour.—Local: 2001b sacks, £14 15/6 ton: 100's. £15 12 6 ton: 50V, £15 17/6 ton; 25V. £16 7'6 ton; 12%'s, £17 ton; 6V4's, £17 17/6 ton. Malt.—('niched. 11.'6 bushel; whole white. 11'3 bushel; whole black, 12/3 bushel.