FINANCE AND COMMERCE

Press, Volume LXXIII, Issue 22135, 3 July 1937, Page 13

FINANCE AND COMMERCE

CANTERBURY 3IARKETS

POTATOES REMAIN QUIET

OATS AND CHAFF WEAKER

(Br oca coiiiiiuriiii, laim.) Friday Evening. The grain and produce markets have been very quiet thi.-- veek. and even potatoes, which have b-'en active for some week?, have begun to slacken off with the departure of the South American boats. Three more ships are available two this month and one in August 'but a fair proportion of the cargoes for these is already in store. There innears to be practically no interest at all among North Island buyers in the Canterbury market. There is some inauiry for reds, but whites, owing to low quotations from Timaru. are weak. Potatoes are not offering from the country very freely, mainly because the wet weather has held up digging. The wet weather has also held up wheat sowings, and though many farmers held back increased supplies for seed they have been unable to get it in The July increment of a penny has •*o'ne on to milling wheat, but it is fikely that farmers who have held till now will wait for the further two halfpenny increments in August and September before selling. Imports of aats and chaff from Tasmania to the northern markets have weakened quotations here, and there is no great amount of business in either. The small seeds market continues •very quiet.

Quotations The following arc the prices quoted to farmers, on trucks, at country sidings, unless otherwise indicated: — Wheat— Milling. July, f.o.b. Tuscan 5s 4d, Hunters 5s 6d, Pearl 5s Bd. Fowl wheat, prompt, to 5s Id f.o.b. Oats—A Gartons to 3s 4d; B Gartons 3s Id; Algerians, to 2s lOd; Duns. 2s 9d to 3s 3d. Ryegrass—Perennial, 2s 6d to 3s; Italian, 2s 6d to 2s 9d. Cocksfoot—Plains, 7d to 8d; Akaroa, Id to 9d per lb. Cowgrass—6d to 7£d per lb. White Clover—To IOAd. Chaff—To £4 2s 6d a ton. Barley—Feed, 4s a bushel. Partridge Peas—4s 9d to 5s a bushel. Potatoes—Dakotas, £6 a ton; whites, £5 10s. Bran—Large, £4 15s; small, £5 ss. Pollard —Large, £6 5s a ton; small. £6 15s.

ASHBURTON

Most growers have now sold their wheat, but some millers are still requiring supplies to complete their allocation. The fowl wheat market is strong, with limited supplies offering.

The oat market is still firm, but few tales have been reported. Partridge peas are riot receiving any attention in the meantime, but it is expected that export orders will be forthcoming within the next few weeks.

The potato market is.still firm and several orders are in hand for export business later in the month. The demand from the North Island has been dirappointing. There is a good demand for certified lines of seed potatoes. Oatsheaf chaff is still meeting with a good inquiry. The small seeds market is quiet in the meantime.

The following are prices to be paid to growers, free of commission, on trucks, at country stations, sacks extra:—

Wheat—Milling Tuscan 5s 4d, Hunr??, 5s , 6d ' Pearl anc * Velvet 5s 8d (all f.0.b.).

Good whole fowl wheat 5s 4d, undergrade 4s lOd f.o.b. Oats—A grade Gartons 3s sd. B n? e o S H d - Algerians 2s 9d to 3s. qualit t 0 3S 6cl accordin 2 wSf ass s ,f r ed s—Perennial, Italian, and Western Wolths 2s 9d to 3s a bushel cocksfoot 7d to Bid per lb, red clover r&Ji? P lr T J£< white clover 8d P e r lb. .hj?a a f tS^4 af a ( Io h n fl - GOOd ' bfight ° at " fa^!^ 6 as T"No. 1 grade ss, 3\ 4 ? 6d a bushel. £5 B,°fnr Whites £ 5 10s ' I>akotas *■» Jss, for prompt delivery.

DUNEDIN

<I'BES3 A3SOCIATIOK TELEGBA.M.)

■ DUNEDIN, July 2. Odd lines of milling wheat are still reaching the market. The market for fowl wheat remains firm, and good Quality is worth 5s 6d a bushel. Oats are quiet. There is no shipping demand, and there is a tendency for Prices to weaken. Good heavy lines are readily saleable at from 3s 4d to 3s 6d. Shipping values are nominally 4s; 2d, £o.b., s.i., for A's, and 3s lOd for T?w-* U ? P L ]es of chaff are n °t overran ~. I ut consignments coming in ?tl il" e^ the small demand. Best quality is selling at £5 15s. The potato marssnn? ntl ? ues slead y witn g ood lines selling at £6 10jJ a Um {qt whites Edwarri^ 68 are obtainable for King is k»I d - The ? xport t 0 South America An ?u ng values UPmt»f „? e *u seed ma rkets are quite with continnJ h ? m [ irm - ©binary ryegrass chanW* 1 " short su PP J y with mer " otfhl showin £ greater interest in view asJrL Spring trade - Certified seed is wtthKfi Cocksfoot remains firm Cantiih., S6d per lb bein § asked bv Akar e 0 r a bur >:'merchants for certified value° s a - in^ hlt i clover is stead y witb Sd ifh^ ed to ftrm - but a Port trade n 4: Xperienced in the ex " from rif re - n °, inc l uiries ,- P«ees Vrem,L lnclll l ed t 0 weaken. Brown *°rth m^' ns "nchanged, certified being MachiJL P ei " lb to the growers. *o the hmu % Gd d °g stai i is firm owing °% inauirv d - SUpplies ava ilable. The m <«t of q thPo 1S ? 0r bright seed and in colour samples offering are dark

INVERCARGILL

tTOE PR ESS Specla , Semce>]

. Occasion-,! N July 2. in « to Ss'a e Bof oats are comso freelv «L m fa ™ers. though not ?«terablc nI»f Paßt , ycars ' A con " L lav * been °nn, rt !° U of Uu; oat * which hav * been vll^ a % cd by merchants V , all « to farm'r d f ° r millin S- The * weigh * li nes suitable for

(CONTINUED FROM PAGE 12)

FRUIT

DUNEDIN

BURMA

VEGETABLES xVND

CHRISTCHURCH MARKET

The following report on the Christchurch fruit and vegetable markets covers the week ending Julv 2:—

Vegetables—Cauliflowers are in short supply, and values have advanced considerably compared with last week best quality to-day realising up to 15s a dozen. With the exception of eelerv good supplies of other varieties are coming forward, values being:—Cabbage 3s to 5s 6d a dozen, snrouts s|d per lb: potatoes, good supplies coming forward, market unchanged; onions have shown a further advance, best quality 3s Cd to 4s a sugar bag- lettuce, scarce, to 4s a dozen; spinach, up to 3s 6d a dozen.

Fruit—Apples: Good supplies cominforward, market unchanged. Winesaps up to 10s, other dessert varieties realising 4s to 7s a case; cooking, 4s to 6s a case. Pears: Steady .supplies available, market unchanged. Tomatoes: Local hothouse scarce, best quality realising to Is per lb. other grades lower. New Zealand lemons and passion fruit are scarce: anv lines coming forward are meeting with a keen demand, values being high. Imported Fruits—Shipments of South Australian navels and mandarins, also Queensland pineapples, arrived during the week. Shipments arriving: Samoan and Niue bananas are due on Monday, also further supplies of Queensland pineapples, and a small shipment of Island oranges later in the week.

Eggs—First grade to 2s, second grade Is 9d to Is lOd, duck eggs to 2s a dozen.

(rRfeSS ASSOCIATION TIUuiHL'.) DUNEDIN, July 2. The Waitaki, which arrived on Tuesday from Melbourne, brought approximately 2000 cases of South Australian navel oranges for the local market. It appears highly probable that no further supplies of Island oranges will come south of Christchurch for the rest of the season, as the Cook Islands Department is requiring a guarantee of a price before sending oranges to Dunedin and Invercargill. Owing to the slowness of the sale of Island oranges and their higher landed cost here as compared with the North Island, the local markets are not prepared to give guarantees. It is reported that Christchurch brokers have agreed to take the portion allotted to Dunedin and Invercargill. Oranges ex the Waitaki were much sweeter than those in the previous shipments. The next shipment of South Australian oranges is due by the Waitaki on July 15, and if no Island oranges are offering in the meantime the shipment should meet a keen demand. Lemons are practically unprocurable. Very high prices are also ruling for New Zealand-grown lemons. Poorman oranges are expected by the Waipiata. due to-morrow. Tomatoes are offering in small lots. The demand is confined to choice quality only. Cooking apples are in good supply and choice quality dessert have a sound inquiry, but poor quality are hard to place even at low prices.

N.Z. TRADE WITH

POSSIBILITIES OF INCREASES MENTIONED

RANGOON, June 12

Better trade relations between Burma and New Zealand and the possibility of more profitable outside markets for Burma's mining products were mentioned in an interview given by Mr T. N. Callanan, honorary representative of the Government of New Zealand in British Malaya. Mr Callanan has come to Mergui in Burma on a short visit from Penang to report on mining properties in Lower Burma. "In view of the recent announcement that the British garrisons in Singapore and Hong Kong would be trebled, the Government of New Zealand is seeking means of increasing the importation of New Zealand foodstuffs, such as beef, mutton, butter, cheese, vegetables, honey, jam, and fruit into British Malaya," Mr Callanan said. "This importation scheme naturally requires a direct shipping service between Singapore and New Zealand. The K.P.M. shipping line has agreed soon to run a direct monthly service from New Zealand to Singapore via Australia and the Dutch .East Indies so that New Zealand foodstuffs may be imported into Malaya every month. Siam and Burma will then offer a great opportunity to sellers of New Zealand products." '

AUCTION REPORT

Ford and Hadfield, Ltd., have to report having submitted by public auction the property situated No. 156 Antigua street, comprising a residence of six rooms, together with valuable section of 1 rood 10 perches, and having sold same to Mr Clemence —2

milling and seed, and proportionately V% fo y lower quality. Very few lines ot bouthland oats this season come up to Aor B shipping grade. Verv few lines which have been submitted are suitable for milling. Fowl feed is not very plentiful, and good quality is worth practically the same as milling wheat. °

Some new season's lines of chaff are now being cut. and there have been sufficient supplies to meet requirements. The value to farmers for good bright quality is about £4 10s. Supplies of this season's ryegrass crop are very scarce and merchants will have to rely for their requirements for retail business on stocks held i from last season. The market for Chewings fescue is more or less at a standstill. Merchants are not keen buyers and growers do not show much inclination to meet the market. There has been a lack of overseas orders and probably the present position will continue until it is known what overseas demand there will be. A few lines of browntop have been offering, though not to the same extent as in previous years. The value to growers for ma-chine-dressed seed of export quality is approximately Is for certified seed and lOd to lid for uncertified. Practically no crested dogstail or clover has been offered.

The production of potatoes appears to vary. It is probable that the production over the whole province is considerably less than in a normal season. The value for shipping purposes is approximately £5 10s.

GROCERY TRADE

PROSPECTS AND PRICES

Turnover in the retail and wholesale grocery trade during the week was very .satisfactory, and in some retail quarters it has been very good. This menth many firms are preparing for stocktaking and are reducing their buying to a minimum.

Desiccated Coconut After several drops the coconut market in Ceylon has stopped its downward movement and this week recovered by 9cl per cwt. Linseed Oil-Turpentine

London cablegrams show that turpentine prices are stationary, but linseed oil is cheaper by 5s a ton f.o.b.

| Tea ! The entries of Indian teas at the j Calcutta sales (which have just i opened) are still small and below expectations. Last, week the catalogue I was just under I,ooo,ooolb—a very j small sale for Calcutta auctions. There ! was at this auction a good general de- ! mand and common lines made 3 pies | advance in price. The biggest advance was in Broken Orange Pekoe, best type, which jumped 1 anna to 15 annas. Fine quality Broken Pekoe. • and fine Fanning.-; rose 6 pies. The following is the range of prices obtained at this sale: —Broken Orange Pekoe common, 11 annas 3 pics; medium, .12 annas; good, 15 annas. Broken Pekoe common, 11 annas; medium. 11 annas 3 pics; good, 12 annas 6 pies. Fannings. common 10 annas 9 pies; medium, 11 annas; good. 14 annas 6 pies. The usual weekly auction of Ceylon tea was held last week in Colombo when the following prices were obtained: —Broken Orange Pekoe common, 69-79 cents; medium, 75-77 cents; fine, 80-82 cents. Broken Pekoe common. 68-69 cents: medium, 75-76 cents. Broken tea common 68 cents. Medium, 70-71 cents.

Brooms As early as June 19 it was mentioned first in this column that cornbroom prices would be reduced in the near future. New lists were circulated to the trade on July 1. showing fair price reductions in all grades and makes of cornbrooms. Greaseproof Paper

An overseas message received this week states that there has been another increase in the price of greaseproof paper. To obtain deliveries is still difficult as shippers have booked so far ahead that orders placed now cannot be shipped for several months.

Firs

New season's Turkish figs were quoted during the week. Shipment will be made in September or early October, and arrivals should be in plenty of time for Christmas trade. Higher prices than last season were anticipated, but the increase over opening rates of last year is substantial. Comparing the new quotations just to hand with opening rates last year, the following increases are apparent—3olb layers, 5'- per cwt: 21b bo::es. 6s per cwt: linen bags 7s-9s per cwt; 301 b pulled, 17s per cwt: lib pulled. 18- per cwt. with other sizes in proportion. It will be noticed that the heaviest increase is in nulled figs, which this coming season will land at high figures.

Mustard

Australian holders of bulk mustard have reduced prices by 2d per lb. This may be only a local movement, having no connexion with New Zealand quotations, but on the other hand, it may be the forerunner of cheaper prices eventually affecting New Zealand markets.

Esgrs

There has been no alteration in the buying prices by city stores for farmers' eggs, which yesterday stood at. firsts is 9d. seconds Is 7d, ducks Is 7d. Supplies arc reported to be increasing.

Sugar

Following the recent increase of 10s a ton in the price of sugar, the following retail prices have been arranged by the city and suburban shops —single pound 4d, 61b Is 7d, bags 18s 3d.

Paper Advances

As from July 1 the following increases in the prices of paper came into force: Kraft 50s. unbleached cap 30s. No. 1 cap 50s. kraft cap 555. all a ton. It is expected that following the increased cost of paper, an advance in the price of paper bags is not fa l - distant.

It is significant that Australian paper makers have increased their f.o.b. prices for both paper and bags,

Salmon

Advice from Canada stales that a new Government regulation has been issued providing for a 10 davs' closed period during the salmon run in the Skcnna river. During this period no fishing fexcent rod and line) will be permitted. This regulation is to allow a certain quantity of fish to reach the head waters of the river, where the spawning grounds are situated, and thus keen the fish established in the river. The modern net and trap fishing in the Pacific Coast risers is so efficient that if continued throughout the season it would mean that very few fish would get past 1o the spawning grounds. This would eventually lead to a scarcity of fish, and thus materially affect the industry in future years. The chief salmon in the Skenna river is the line caught atid packed as Pinks, and this will mean a fair reduction in the output this year of this grade of fish.

White Lead

Oversea cablegrams state that as a result of weaker markets for pig lead the white lead market is weaker, and further price declines are expected.

Hoj*ey

Honey supplies are on the short side, and buyers operating for North Island concerns have assisted to stiffen the market. It was stated yesterdav that fair parcels have been purchased for shipment to the north at fairly high prices.

The cheapest method of buying heney for the housewife at present is either loose in buyer's own container, or in tins of five to 71b.

Seeded Raisins

Californian seeded raisins now due to land will cost more than previously; in fact, this line is now fairly dear to import. Most storekeepers are working on Australian lexias, as they offer better value.

Sardines

New season's pack Norwegian brisling of a well-known brand are being offered by cablegram. Prices are slightly in advance of those ruling last year, and buyers can book forward until the end of the year. It was also announced that a shipment of Norwegian sardines for various New Zealand norts left that country on May 15, and should arrive in New Zealand in the first week in August.

Ground Almonds

The London price for ground almonds is weakening, and one cablegram recently received names lower prices than those ruling last month. The drop is not much, but it shows the present tendency of the European markets.