FRUIT INDUSTRY

Evening Post, Volume CXXIII, Issue 3, 5 January 1937, Page 10

FRUIT INDUSTRY

GROWERS OPTIMISTIC THE EXPORT GUARANTEE (By Telegraph.) (Special to the "Evening Post.") DUNEDIN, This Day. The announcement by the Government of a fruit export guarantee of 10s 6d a case has given widespread satisfaction amongst Otago growers, who are looking forward to the new season with more optimism than for some seasons. Heavy deficits were suffered by growers on exported apples last season, when prices of from 6s to 7s were realised as against an average of from 9s to lis. Last season's low prices were due mainly to the state of the fruit when it reached the London market, unsatisfactory climatic conditions in New Zealand causing the fruit to become prematurely unsound. So far this season the weather has been highly suitable for apple growing and a continuation of satisfactory weather will ensure excellent quality in respect to the greater portion of the consignments. The New Zealand crop is not expected to be a record one, but growers generally are hopeful regarding the dutcome of the season's activities. AUSTRALIAN BUTTER MARKET AND RAINS Dry conditions in the dairying areas of Queensland and New South Wales had a serious effect on production ofbutter and cheese in those districts and, indirectly, a hardening effect on the London market in consequence of a threatened short season for Australia and much reduced production. As, however, the weather improved in Australian dairying districts, so the London butter market showed a decline. The movements were shown in the prices as cabled to the New Zealand Marketing Department and supplied to the Dairy Board, as follows:— New Zealand. Australian. Butter. Per cwt. Per cwt. November 6 .. 108/- 109/- 10"/- 10S/Xovember 13 .. 100/- 110/- 3OS/- 100/9 November 20 .. 109/- 110/- 107/- 10S/Xovember 27 .. 106/- 307/- 105/- 106/December 4 .. 104/- 102/- 103/December 11 .. 104/- 101/- 102/December 18 .. 99/- 100/- 96/- 97/January 2 .... 94/- 95/- 94/- 95/Prescott and Co.. Sydney, report that for the week ended December 30, "further heavy rains have been experienced in several dairying districts, and occasionally reports are being received that there is a danger of floods. In due course production should increase. ... In Victoria good rains have been received and will do much good. Arrivals are lower than those of the previous week, and slightly in excess of the corresponding week of 1935. . . . Although many dairying centres in Queensland have benefited by recent rains, there are still isolated i areas where rain is much needed." FOREIGN EXCHANGE RATES Closing sight rates as.quoted by the Bank of New South "Wales, Wellington, today for buying and selling foreign currencies, based on New Zealand currency, are as follows:—

The above rates are for on demand transactions. The £1 is £1 New Zealand currency. The rates are subject to alteration without notice. Based oh the figures quoted by the Bank of New South Wales, the New Zealand pound, compared w™ its original par value is equivalent to approximately:— £ s. d. 016 1 In London. 10 1 In Australia. 0 16 2'/i In U.S.A. 0 16 2*4 In Canada. 0 13 6% In France. 016 2 In Italy. 0 9 6M, In Germany. 0 11 9 In Java. 1 8 4% in Japan. JAVA EXCHANGE. lUy Telfcfrrapli—Press A?sn.-copyright.) (Received January 5, 10 a.m.) BATAVIA, January 4. Sterling exchange, 8.92J guilders to £1. The rate on December 30 was 8.923. THE FRENCH FRANC. (By Telegraph—Press Assn.—Copyright.) (Received January 5, 10 a.m.) LONDON, January 4. Sterling exchange on Paris, 105 3-16. The rate on December 30 was the same. TARTARIC ACID SUPPLY. As Spain and Italy are among the most important suppliers of tartaric acid and tartrates, recent events in those countries have made changes in the supplies for the British market essential, says the "Manchester Guardian Commercial." Since April imports into Great Britain have kept below the 1935 levels, which were in turn smaller than those for 1934. The German manufacturers, who usually meet slightly more than half the] British demand, increased exports to Britain during the first nine months of this year by more than 40 per cent, in comparison with last year. German exports to other countries, especially Latin-America, increased considerably but these gains are not due entirely to the absence of Spanish material. As the official German returns show, average prices have been steadily, !f slowly, reduced under the new plan. The production of tartaric acid and tartrates in the Empire, where Australia and South Africa are favourably placed as regards raw materials, does not yet seem to play an important part in the supply of the British market. It may be mentioned that Australia ships tartaric acid to New Zealand. C. W. Price and Co., 91 Dixon Street, I will sell furniture and carpets in the mart tomorrow, commencing at 1.30 p.m. For his second statutory offence of drunkenness, Wilfred James Sutherland, a labourer, aged 56, was fined £ 1 by Mr. J. H. Luxford, S.M., in the Magistrate's Court today.

On demand. On demand. Buying. Selling. New Zealand on £ s. d. £ s. d. London—£N.Z. to £ stg. 100 123 10 0 124 8 9 Australia—£A to £N.Z. 100 101 0 0 100 10 0 Fiji—£F to £X.Z. 100 . 90 7 6 89 0 0 New York—Dollars to £X.Z. 1 3.9S% 3.94H Montreal—Dollars to £ X.Z. 1 3.95% 3.94% Austria—Schillings to £ X.Z. 1 — 20.70 Belgium—Belgaa to £ X.Z. 1 — 23.213 Czechoslovakia — Crowns to £N.Z. 1 — 111.69 Denmark—Kroner to £ N.Z. l 18.263 IT.903 France — Franca to £ . _ N.Z. 1 — 84.27 Germany—Heichsmarks to £N.Z. 1 — 8 - 134 Holland —Florins to £ N.Z. 1 — '-If Italy—Lire to £ N.Z. 1. . — «' 4 Java —Florins to £N.Z. — . Norway—Kroner to £ X.Z. 1 16.241 la.OOl Sweden—Kronor to £ N.Z. 1 15.S45 lo.jOO Switzerland —Francs to £ N.Z. 1 — 1,0,8 Noumea —Francs to £ N.Z. 1 — 8 *' 0 " Papeete—Franca to £ N.Z. 1 — S3 ' 07 Hong Kong N.Z. pence iosiiu to 1 dollar 18 9-32 India and Ceylon—N.Z. 0011 ig pence to 1 rupee .... 22 2o-64 22 11-10 Japan—N.Z. pence to 1 ,, yen — Shanghai—X.Z. pence to is iq.Gi 1 dollar 1.2J-32 18 19-bl Singapore—N.Z. pence to 1 dollar 34 /8 ■» Chefoo—N.Z. pence to is 7 IK 1 dollar LHL1_