COMMERCIAL NEWS.

Press, Volume L, Issue 8482, 13 May 1893, Page 8

COMMERCIAL NEWS.

Advice 3 received during the week from outside markets intimate some small alterations in a few leading exports, which should sooner or later affect local quotations. Japan rice, ci.f., has advanced 10s per tou, chiefly owing to increased freight from Syduey, which will, in all probability, be still further increased. Local holders are takiug advantage of the rise to some extent. Ceylon teas are a shade easier in Colombo for grades above common, which are firm at Id advance, but the MarchApril sates showed an entire absence of high-grown teas with poiut and quality. These should, however, come forward for the May-June eales, but for a few months China sorts will show the best value in the local market. An extraordinary aud continuous advance in raw sugar has been cabled from London during the past few weeks, until 18s 7£d for German beet waa reached on the 9th instant, a rise of about 5s per cwt. This makes any local stocks of cubes and loaf sugar worth holding, bat it is doubtful if the colonial relineries will alter their figures in face of the new Queensland crop, which should be reported for business towards the end of June. Meantime Companies' refined are the only sugars available iv any quantity. Dried fruits are firm iv London with an .upward tendency. Currants, especially, are being closely watched, advices pointing to a probable jump of some shillings per cwt. The arrivals are reported of the Jorgen Baug at Dunedin, and the Ephialtes. at Wellington; both from New York. The freight on kerosene being a shade higher, importers must obtain an advance on present spot rates to cover cost of shipments by these vessels. Locally a parcel of 100 tons corrugated iron has been placed, price being withheld, to arrive per Matatua, but with this exception the week's operations in general goods were unimportant, and no change iv values is reported.