GRAIN, SEED AND PRODUCE

Press, Volume XCIV, Issue 28128, 17 November 1956, Page 14

GRAIN, SEED AND PRODUCE

RYEGRASS PROSPECTS DISCUSSED (By Our Commercial Editor.)

Reports from several sources this week “point to the prospect of continued low —or even lower—prices for ryegrass in the coming season.

“Following, a sale of New Zealand mother perennial with high purity and germination at 125 s c.i.f.. heavy offerings have caused the price fin Britain] to sag to about 115 s. without attracting buyers.” says the Bank of New Zealand’s London office, in a produce report received by airmail. “Some sales of uncertified perennial have been made to the Continent at 97s 6d. c.i.f. Bids of 85s. c.i.f.. for Hl ryegrass have been declined by sellers.” Prices have since fallen below the figures quoted in this report, according to one Christchurch merchant who has received cables from London this week. If the rest of the growing season in New Zealand was as favourable as it. had been up to the present a bumper crop could be expected. There was still a large carry-over of last year’s reyegrass seed, he said. “I don't know where we are going to put the next crop—most stores are still half-full from last season.” Another merchant, agreeing that present prospects were for a heavy over-supply of ryegrass, advised farmers to have a pre-harvest test of* the germination of their seed taken. “In my view, it won’t be worth their while to harvest any but high-germination seed: they might as well make hay of the rest.” , N.Z. Seeds Inactive in Britain Because of high prices and curtailed retail buying, there has been an almost entire absence of demand for New Zealand seeds in Britain in the last month, according to the Bank of New Zealand’s report. Wholesale merchants have been prepared to resell earlier and cheaper purchases at below the current prices required by most New Zealand sellers. The spring sowing demand will not materialise for some months. Comments on particular varieties of New Zealand seeds in the bank’s report are as follows: Chewings Fescue.—Apart from a few sales of New Zealand dried seed at 380 s to 390 s per cwt. c.iJ., the few offers received have not interested buyers, as better and cheaper Oregon seed has been available. Crested Dogstail.—New Zealand seed has been far too dear for the United Kingdom market, with sellers asking 550 s to 5755, c.i-f. . . , v. Browntop. —Up to 700 s, c.i.f., has been asked for New Zealand certified seed (uncertified 6755), Oregon browntop certified is available at 485 s to 4955, landed in London, duty paid. White Clover. —Lower prices have been accepted, mother white being sold at 6355, c.i.f. Sellers quote best seed at 6505. Montgomery Red Clover. —Early in October, limited business took place in mother seed at 680 s. c.i.f.. but prices for high analysis have since been reduced to Peas. —Increased interest is being shown in new crop New Zealand maples. Sales have been recorded for No. 1 grade for March-April shipment at up to 60s 6d per cwt, c.i.f. New Zealand is reported to have a large acreage, whereas in Tasmania the area sown has been curtailed because of wet weather.