GROCERY TRADE

Press, Volume LXXI, Issue 21470, 11 May 1935, Page 13

GROCERY TRADE

PROSPECTS AND PRICES

Business lias settled dewm again after the holiday last Moniiay, and 1 in both the wholesale and retail trade • good business is reported. There bas ' been a sudden rush for winter lines, such as oaten foods, cocoa, cough cures, etc., and substantial orders have been placed for many such lines. A move in sugar prices occurred j'esterday, and it is the opinion, of some men in the trade that at presait sugar is safer to stock than it was some months ago. Singapore Markets There is nothing of importance to report respecting Singapore grocery lines. Tapioca and sago are stationary, whilst white pepper is still showing slight declines. Desperate attempts are at present being made by London while pepper holders to keep values up at least to their present level, and if the recently-formed pepper sellers' association in London cannot manago this, then much lower values look likely. So far the strength of the association is not known, but it appears to be an association of holders who have on their hands huge stocks which forced several London firms some months ago to liquidate. The pineapple market, is sluggish, and prices about stationary, with very slight differences as between the various brands offered. The Narbada is due in Lyttelton on Tuesday, and she will discharge a lair cargo fro>m Calcutta, Singapore, and Java. Until these goods are in stock and well on the way out into consumption there will not be much interest taken locally in Singapore produce prices. Pilchards Cable quotations were named this week for new season's pilchards. Prices are slightly higher than those operating at the opening of the season last year, but nevertheless the line offers good value for both i's and l's. Tea At la:jt week's auction of Ceylon teas held in Colombo there was a good demand, and many lines made from 1 to 4 cents price increases. In spite of lack of quality, the auction produced plenty of activity, owing to a very firm position having developed in the tea trade on the London market. Stocks there are reported to be down by 13 million pounds, and this has strengthened the position for Ceylon, Java, and Indian teas. At this sale prices ruling averaged as follows: Broken Orange Pekoe, common 52-56 cents; medium, 76-86 cents; fine, 90 cents. Broken Pekoe, common 50-52 cents; medium 70 cents; fine 75 cents; Broken teas, common, 49-50 cents; medium, 54-58 cents. A cabled report from Java states that there is considerable firmness in the tea market in that country, owing to shortage of supplies. No prices were quoted, but the message indicated that higher values could be expected shortly. , Coffee At present the co/Tee market overseas is on a low basis, and in buyers' favour. It is reported that importers are now operating, as it is anticipated that prices will not move much lower, if at all, and at present the overseas prices are lower than they have been for some time. Kfcc The Australian rice crop this season is late and so far there has been no change in prices. Burmah rice is very firm, and price increases would not cause any surprise in either Australian or Burma lines. Ginger Owing to recent price increases in dry ginger in Asia, it is now better to order from Africa, whence a very fine sample of ginger is available. It was the substantial advance in Asian root ginger that brought about the recent price increases in New Zealand in preserved ginger. Dried Fruits News by mail from Australia states that there the merchants are operating very heavily in sultanas and currants, owing to a persistent report that higher prices are likely before the present season has progressed very far. Considerable buying activities are going on at present, and there is also an acute shortage of seeded raisins, owing to the inability of the packers to dry out sufficient to meet the very heavy demand this season. It is hoped to overtake this shortly, and in the meantime the prospect of fair supplies for New Zealand looks doubtful. Canary Seed, etc. This season the Queensland crop of canary seed is short, and little, if any, will be available for export to New Zealand. Argentina will be the chief source ot supply, and it is reported that in that country crops are on the light side. These conditions appear to make for a very firm market in the future. The market for other bird seeds, such as millet and hemp, is at present stationary, but nevertheless firm in tone. Sugar Advanced The price of sugar advanced yesterday by 10s a ton for all grades except I tablet and icing. The latter two lines ! advanced by 20s a ton. Golden syrup and treacle also advanced by 10s a ton. This move was not altogether unexpected. as it is clear from the recent reports that there has been a slight improvement in the world's sugar values. At the present time it is reported that foreign sugar cannot be landed here to-day to compete against the Dominion's refined article, even at its present advanced price. New Zealand still enjoys sugar at a much cheaper price than Australia, where this week the value wholesale was £33 4s a ton net, practically £lO dearer than in this Dominion. Desiccated Coconut Reports from Ceylon by cable notify a very firm market for desiccated, shredded, and flake coconut. In the last few weeks one small advance after another has now landed coconut

prices well aTics3 of values ruling! early this year. J Cocoa indications point to a weaker overseas market for cocoa. Of late years there has been an increasing demand locally for bulk cocoa, and several excellent bulk lines (considering the price) are on the market. One wellknown brand, packed in i's, s's, and 1 s, has already been reduced by 2sd per lb on the Australian market, and this adds strength to the reported weak market overseas. Bulk cocoa now is the bye-product of the cocoa butter industry. The greater the demand for cocoa butter tor confectionery purposes the bigger becomes the output of the bye-product, and the brighter outlook in the times generally is bringing about increasing demands for all chocolate confectionery. It is in this line that cocoa butter enters so largely. In this way an increased demand for chocolate confectionery is directly related to cheap , bulk cocoa values. Almonds Both Sicilian and Jordan almonds, nftw crop due September shipment', huve firmed on the London market. Art increase in prices quoted is cabled of £4 a ton for Jordans and £2 10s a twn for Sicilian over prices issued two weeks ago.