THE FLAX MARKET.

New Zealand Herald, Volume XLIX, Issue 15124, 15 October 1912, Page 8

THE FLAX MARKET.

ADVICE FROM MANiLA. A SHORTAGE PROBABLE. HIGH QUOTATIONS CONTINUE. [BY TELEGBAPH.—PRESS ASSOCIATION.] Weli-ikgtok, Monday In order to ascertain the extent to which the reported drought in the Philippines would probably influence the hemp market-that is if current values are likely to be maintained—the Secretary for Agriculture cabled to the Consul at Manila to the following effect "Sharp rise in prices of hemp in London, said to be due to decreased output from Philippines. Kindly reply causes, and whether likely to continue." To this the following reply was received:— shortage arrivals hemp hero at present, but eventual decrease of possibly 100,000 bales this year, owing to drought last spring is anticipated, provided the present demand continues." Advice by cablegram from the High Commissioner's Office, London, under date October 12, is- as follows:—"The market is firm at an advance, and the market is in an excited mood, with strong demand for all descriptions. Following are c.i.f. quotations-.—Spot New Zealand good fair grade, £31; fair grade, £30; fair current Manila, £29 10s; January to March New Zealand shipments of good fair, £31 10sfair grade, £30 10s; fair current Manila, £30 10s. The output from Manila for the week was 26,000 bales. The stock of New Zealand hemp is 610 tons.''