CANTERBURY POTATO MARKET

Manawatu Times, Volume XLIX, Issue 3445, 6 September 1926, Page 11

CANTERBURY POTATO MARKET

LOWEST FOR YEARS. CHRISTCHURCH, Sept. 3. The week has been a sorry one for potato holders. The market has tumbled in a manner that has no parallel in recent years. Potatoes bought in June for September at £8 5s a ton were re-sold to-day at £3 15s. This probably represents the two polos of tho movement, but many thousands of pounds arc represented in tho decline from £7 to £4. The losses are not borne wholly by local operators, as Sydney buyers ho.ve imported for several thousands tons that are showing a loss of at least 50s a ton, others more. The local' market has been depressed throughout the season by the accumulation of potatoes at southern ports. It is only this last week that this accumulation of white potatoes has practically disappeared. This has been brought about by the shipment per Kurow last week from Timaru to Lyttelton of 12,000 sacks, and per tho Waipori this week of 5000 sacks. At the moment Sydney is not responding to the local offers. Operators apparently have brought forward as heavily as the market cart absorb. The Whangape is duo to sail on September 8 for Sydney. The potato market has monopolised ■ all attention, and beyond oats being from, at present quotations, 4s 3d and 4s f.o.b. S.I. for A’s and B’s respectively, there is really little to report. These arc southern prices, local being worth up to 4s 6d. A few lines of wheat are floating around at 8s 6d and 9s a bushel, but buyers are standing off at this price. The seed market is quieter again, after a brief activity. In the retail business a small area of barley and also of peas is being grown on contract at 5s 6d a bushel on trucks.