COMMERCIAL.

New Zealand Herald, Volume LIX, Issue 18018, 17 February 1922, Page 3

COMMERCIAL.

WHOLESALE AND RETAIL.

THE PRODUCE MARKETS.

HEAVY SUPPLIES OF POTATOES.

Tile wholesale trade continues to show the quieter conditions that were noted earlier in the week. Orders are being carefully put off until delivery commences for next month's account, which will be next week, and this is confining present deliveries to necessities. Retailers are also putting off as much buying as they can, on account of their own trade being so busy just now. Although nominally the sales are drapery, this department being the first to introduce the system of summer salens, the custom lias spread until it embraces nearly all departments, and retailers are consequently very busy. Import trade is quiet at present, and verv little is doing in ciports, but several very substantial consignments have recently been loaded in Auckland into vessels which cempleted their loading in the South, so that the total exports for the month should be fairly solid. Tlie building trade is quiet, owners apparently waiting until prices reach bedrock. Corrugated iron is lower, and smaller lines are now more readily obtainable, while easier costs in porcelain and enamel will make a good difference in baths and sinks, which lor many years have been very expensive. It looks as if a fair amount of building will be undertaken when the public are satisfied with the prices, for in the meantime there is a steady inquiry for building sections.

Tea Rises in Ceylon. Tea—A cablegram from Colombo reports that anothej rise took place at this week's auction, which supports the contention that the reaction last month was only temporary, being entirely duo to the poor selection offering. It is stated that all the principal countries are operating heavily, so that New Zealand importers will not be able to keep on Belling very long at present rates.

Dried Fruits.—Although this is the off season for dried fruits, a good many inquiries are being made in regard to forward supplies. Dates are particularly firm in London, and Khadrawi quality are so scarce as to bo almost unobtainable for export, so that probably lower grades will have to be taken for New Zealand.' This is.most unusual, and has caused th 0 local prioe to harden in sympathy. In Australia the old season's currants are in small compass, but now will be plentiful! for shipment about May. Sultanas are not a large crop, but there will probably be an exportable surplus. Prices are not yet firm, but will moat likely be about tho same as last year.

Canned Fruits.—The higher d\ity now payable on Australian fruit will no doubt cause more attention to be given to the American article, for which present quotations are fairly low in apricots and peaches but rather too high in pears. Until Australia can arrange a reciprocal tariff with us, th<Mr fruits will have fo bear the same rate of duty as tha- American, but in the meantime it is interesting to note that the Commonwealth Government has instituted drastic measures, with a view to preventing the good namo of their fruit being spoiled, as it was in England last year, and to a limited extent here. For the future each brand will be graded, so that buyers will be a-hlo to operate on grades, instead of on brands, and as these will be under Govornment inspection, under a heaw penalty for incorrect packing, buyers will be assured an to value received. Apricots fo r canning were Bcarcc, but there will be a good pack of pears and peaches, Sago and Tapioca In Good Supply. Sago and Tapioca.—Ample stocks are available, and quotations arc more favourable. Salt.—English and Australian brands are offering at lower ratesOils.—Kerosene and benzine are in good supply, and ar© also booking to arrive. Castor ie easier, but demand has not improved much, Potatoes.—Supplies continue very heavy, and price ia weak at 7s to 8s ex store. Tho quality varies a good deal, a natural result when growers rusned on their diguing after the ram, and low grades are very difficult to quit while supplies are so plentiful. Tho Southern market is easier for forward delivery, no doubt on account of the heavy competition with tho locally grown, ©specially m tno second crop is doing so well. Onions.—Market keeps very firm, nnder the steady influence of export inquiry, and beat qualify have sold up to 12s. others at 9s. Oats.—Tho advance has been maintained, and best feed is selling at 4s 6d ©x store. This is only in email quantities, as a lower price is expected when the new harvest gets on the market Chaff.—Blenheim chaff .is selling at 8s 9d to 9s ex store, the local artl.clo being each week more more prominent in the market. Best quality is realising about £6 10s at the stations, but it was most unfortunate that a good deal of it was caught when the we&thor broke at the .end of January, and will conseouentlv be discoloured. Ma : »-Prce has deciinod a little since the beginning of the week, and present value s 4s 3d on the wharf in wholesale lines.

LONDON TALLOW SALES. Australian and NZ. Cable Association. (Reed. 7.30 p.m.) LONDON. Feb. 16. At tl.* tallow sales 2308 casks were offered and 2213 sold. Prices for good and fine mutton were unchanged. Other sorts advanced a shilling. The following prices were ob-tained:-Mutton, fine 42a 3d; medium, 39s 6d- beef, fine 43g; medium, 395.

AUSTRALIAN PRODUCE. Australian and NX Cable Association. (Reed. 7.30 p.m.) SYDNEY, Feb. 16. Oats.—Algerian, local focd. 3s sd; Tasmanian, 8a 8d to 3s 9d: white, 4s to 4s Id. Maize—Yellow, 6s 6d; Wtfc SB. • Potß,toes.-Taßmanian, £7 to £8; Victorian, £6- „, , ~• .. . .„ Onions.—Victorian. £8 to £11. ADELAIDE, Feb, 16. Oats.-2s lOd to 3s, f.o-b. COLOMBO TEA MARKET. [bt tkijbgrafh.—own correspondent.]

CHRISTCHURCH. Thursday. Tea importers in Chriatchurch state that prices in the Colombo tea market have been steadily rising for some months past. While the prices for better grades of tea are not unusually high, lower grades show an advance. The price quoted in to-day s cablegram for Fannings is one of the highest in the historv of the trade. From the Dominion consumers' point of view, the satis actcry feature of the market is the favourable rate of exchange with the East. In 1920 the stocks of tea held in New Zealand were 60 per cent, above the normal, but it is thought holdings are now shout normal. Importations in recent months have been well below the average, which is in the vicinity of 800,0001b. a month. In 1920 the importations amounted to 12,837.518!b., and less than half of this amount was received in 1921, the importation being 6.194,9151b. The tea importing trade has been a highly speculative one, and whether the New Zealand consumer will have to pay more for a pound of tea rests very largely with the maintenance of the present rate of exchange. What would happen if Russia again came into ihe market is a matter for ipeculatipn. Russi* in pre-war days had a toa drinking capacity a head of population only second to the record of Australia and >.<w Zealand, and the re-entry of Russia to the Eastern markets would mean such an enormous increase in tho demand that the available j supplies could not meet it.