GROCERY TRADE

Press, Volume LXXII, Issue 21975, 26 December 1936, Page 9

GROCERY TRADE

A BUSY CHRISTMAS During the four days that the retail grocery shops were open this weeii they enjoyed an exceptionally busy time. The public spent freely and there was a record clearance of all seasonable lines, luxury articles being in strong demand. Christmas crackers on Thursday were practically unobtainable in the city and one or two lines of boxed confectionery were m the same position. .The big demand for certain lines of fancy tins of biscuits caused stocks to run out during the week, and in some cases it is reported that, although there was not a complete sell-out of hams, this position came very near in some city shops. Although no figures are available, it is understood that many city grocers made record figures for the Christmas trading. The demand for novelty lines was excellent, and many articles were sold out before closing time on Thursday. Tea At the auction of Indian teas held in Calcutta last week, 2.000,0001b were offered supported by export licenses. Quality in some cases showed slight improvement, but prices generally did not move far from the previous sale level, except fannings, which were in keen demand, and caused many parcels to soli at slightly better prices than at the previous sale. Average prices obtained at this sale ran as follows:—Broken Orange Pekoe, common 9 annas 0 pies, medium 11 annas 3 pies, good 15 annas. Broken Pekoe, common 9 annas 3 pies, medium 9 annas 9 pies, good 10 annas. Fannings, common 9 annas 3 pies, medium 9 annas 6 piece, good went to 13 annas. Another sale was scheduled to be held last Tuesday, and after that there will not be any further sales until the second week in January, as the market will be closed for the Christmas and New Year holidays. The usual sale of Ceylon teas was held last week in Colombo, when the following range of prices obtained:—Broken Orange Pekoe, common 64-66 cents, medium 78-84 cents. Broken Pekoe, common 62-63 cents, medium 68-74 cents. Broken tea. common 61 cents, medium 62-64 cents. Desiccated Coconut Yet another rise in the price of desiccated coconut (also shredded) was announced by cable just before closing this week. The advance is 2s per cwt. These continued advances, owing to the high price of copra, have caused coconut to advance beyond all expectations, and the line now stands at a price which is higher than it has been for a long time. How long these periodical price advances will continue is difficult to foretell, but the whole position is locked up with the prices that are ruling for copra, and here again copra values are tied up with tlie fat market, especially edible fats. Resin and Turpentine | Since December 10 the advances in the price of American resin have totalled in all £2 3s a ton on a c.i.f. basis, and to this must be added the exchange conversion, as the rates mentioned above arc based on c.i.f. figures only. The new season's output of resin in America will not, when it comes on the market, cause any relief in the present high values. The French resin market is reported to have advanced in sympathy with the American. Turpentine has made a further advance in New York o[ approximately Id a gallon. The different advances i in the price of turpentine in New York ever the last few months has totalled Cu a gallon. Eggs On Thursday the city stores were paying for supplies to farmers and producers firsts Is 2d, seconds Is Id. ducks’ Is Id, all prices net free of any commission. The Christmas demand for eggs now being over, it is expected that prices will be easier, and country stores purchasing eggs wholesale should ascertain the market conditions in the city daily if possible during the next few weeks. Butter At present there is an ample supply of separator and dairy butler. The sales have been good, and it is not expected that the market will alter during the next few weeks unless there is some alteration in the price of factory butter. Sugar Reports just to hand from Queensland slate that although there is at present in the sugar areas the foundation for an abundant harvest and good returns, the want of rain has nowcaused some anxiety in certain districts. Given the usual rainy period that is now due, the result should be a record yield, but if the rain docs not come then there will be a corresponding reduction in this output this season. Almonds The London market for Sicily almonds appears to be erratic at present. One cablegram states that there has been an advance in prices, whilst another message to another source stated that the market was weaker and prices down a trifle. No doubt the position will clear itself after the holidays, when fresh quotations will bo available. Dried Apricots Mail advices from Australia stale that the growing crop of apricots is not very promisin >, and in some quarters it is expected that there will be a definite shortage. The canning industry will have the first call on the new fruit, and it is expected that this demand will be such as to leave the dried apricot factories short. In any case it is predicted that prices of the new season’s dried fruit (apricots) will not be lower than those of last season, and they may be higher. Currants The Commonwealth Dried Fruit Control Board has advised its New Zealand" agents that one-crown cui’rants are now withdrawn, and no further orders can be booked for New Zealand. With the withdrawal of the one-crown grade, the position is that there will now be no Austi’alian currants of any sort coming to the Dominion, as the contro' board withdrew all the higher grades some weeks ago. It will be March, at the earliest, before the new season’s currants are available from Australia. Very heavy .shipment ot currants to the United Kingdom is the chief cause of the present shortage. BRITISH WHEAT MARKET LONDON, December 24, Wheat cargoes are steady owing lo overnight recovery in North and South America. Spot trade is poor. Futures are quoted:—

CHICAGO FUTURES

LONDON SHORT TERM MONEY MARKET LONDON, December 24. London discount and short loan interest rates are: —Day to day loans, J per cent.; fine trade bills, three months 2 to 2 2 2 per cent.; bank bills, three months, 13-16 per cent.; six months, 4 per cent.; Treasury bills, two months, J per cent.; three months, 'i uer cent.

London (qr.)— Dec. 17. Dec. 24. s. d. s. d. January . 44 1U 46 S March .. . May Livei’pool (cental) — . 43 4 CO TP TP December . 9 5* 9 10 March .. . 8 94 8 105 May . 8 84 8 9? 8 75 July . 8 65

NEW YORK, December 24. Cents a bushel— December .. .. 1398 May .. .. 134| July .. .. 1198 ~ ' %