THE HEMP INDUSTRY.
A CRITICAL CONDITION. [BY TELEGRAPH.OWN CORRESPONDENT.] Wellington, Thursday. The continued low price of New Zealand hemp on the London and other markets is giving local millers and merchants: some concern. When the season opened prices were low,, but millers were able to work on in hope and to some extent hold off, closing contracts at their current rates. Now a large quantity of dressed and baled fibre is on hand, and the question is what to do with it in the present state of the market. The holidays will be beneficial in that they have momentarily checked production, but several millers in various parts of the Dominion have expressed their intention of not re-opening until prices improved. Royalty owners who were paid on the official market quotations are also feeling the pinch. The industry is felt to be in a critical condition.
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Bibliographic details
New Zealand Herald, Volume XLVII, Issue 14565, 30 December 1910, Page 5
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145THE HEMP INDUSTRY. New Zealand Herald, Volume XLVII, Issue 14565, 30 December 1910, Page 5
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