TRADE OF THE WEEK.

New Zealand Herald, Volume LXIII, Issue 19417, 27 August 1926, Page 9

TRADE OF THE WEEK.

WHOLESALE AND RETAIL. BRIGHTER BUSINESS OUTLOOK. PRODUCE MARKETS" REVIEW. Wholesale houses report a hopeful outlook, as evidenced by the more liberal bookings on forward account for next month, and there are also fairly heavy bookings for delivery right tip to Christmas.' This has been made sll the more possible by careful buying during the winter, so that stocks are mostly in small compass, but the direct cause of the brighter tone is said to be the opening of the new dairy season under particularly favourable weather conditions. What is probably the most drastic change that has ever taken place in the commercial history of New Zealand will begin next Wednesday, when the Dairy Produce Control Board will assume absolute control of all the butter and cheese thereafter produced, with the exception of certain limited quantities for which contracts were made which have not yet ran out. However, these are so small as not to disturb the operations in the immense quantities which are anticipated during the coming season. There is also no intention to control the balances of last season's make which are still unsold, j but it has turned out that these are much smaller than had been anticipated. A. very important feature in the distribution is the adoption of a uniform brand, to take' the place of the multiplicity of brands which has always been considered a hindrance to a profitable sale, not only of butter and cheese, but of any other product. The allocation for the various firms in Tooloy Street have already been fixed ! for both cheese and butter. ' These have been carefully based on the previous trade, done, and the quantities allocated vary from a firm getting 21 tons in the season to the largest, getting over 10,000 tons, while several are to have the handling of over 4000 tons. The operations in what has become the staple industry of New Zealand will be watched with the greatest .interest by the whole community, however, directly interested or only indirectly, lor the experiment is of a magnitude which has never before been possible in any Now Zealand industry. After years of arguments, the die has been cast, and next Wednesday an entirely new era will commence. Retail trade is a little brighter, but there is not yet much difference in the total turnover, although the brilliant weather is bringing greater numbers into the city. A feature in the buying this week is the children's deDartment, the retailers reporting' that the school holidays have brought mothers into all chief shopping areas, in order to select the various requirements for their children. It is expected that business will improve .from now on, as tradespeople are looking for a good producing season, with a consequent- increase in the spending power of ttie public, and confidence seems to be gradually improving. - The building trade is notable for the larga number of business premises in course of erection, rather than residences, but a good many of the latter are contemplated in the popular suburbs during the spring. SHORTAGE , OF FINE WOOL. Now that priceß seem to be fairly well stabilised at the lower range reached after tho extraordinary boom of two years ago, growers are looking forward a little more cheerfully to the coming seilßou. The most hopeful feature in the situation is the clearance of old stooks in Australia and New Zealand, for it. is anticipated that this will give buyers confidence in operating on the new clip. No substantial rise is expected, but ia is something to know that for the first time for 18 months there seems to be no prospect of a fall. - EGGS. The fall anticipated earlier in tho week has been a sharp one, and fresh eggs are now retailing at Is 6d. The price is at last down to an export basis, and this will enable shippers to get some away during tke next couple of months, if any are to be shipped at all from Auckland this season. Southern shippers have already started and a private letter from Melbourne this week states that the first shipment of 20,000 dozen has already been loaded at that port. It is expected that well over half a million dozen will be shipped from Australia this season, although the price offered f.o.b. is throepence a dozen less, than to New Zealand. TEA. At the auction in Colombo on Tuesday the quality offered was unsatisfactory, and prices were irregular and easier. However, it, must be borne in mind that common teas are about 3d per lb, dearer than at, this time last year, and this high level has had the effect of stopping any- speculative buying, so that local stocks are only normal. EASTERN PRODUCE. Cabled _ quotations for seed tapioca show a reduction of 6s a ton, but pearl tapioca remains unaltered. PEPPERS. All grades of raw peppers are quoted at sharp reductions, amounting in some lines to 2d and 8d per lb, These reductions, fol- ! lowing a general decline in values for some months* will no doubt call for some adjustj ment in "'moiling: rates for ground white pepper in tins. ! . NUTMEGS. ! Fractional reductions in prices for nutI mess are advised, operative on shipment by next direct steamer.- to sail about December. I' , " • MACE. : Latest quotations : show ' alight advances ! over prions cabled a week ago. ' GINGER. Hongkong shippers advise an increase of a halfpenny per lb. in preserved ginger. As no guarantee of certificates R3 to British origin is forthcoming the full duty of 3d per lb. will in all probability be payable, and costs will therefore bf unfavourable in comparison with local ginger, RICE. Following the recent alteration in price of Australian milled rice, market reports indicate a" firm posit : on, with sellers prepared to book ahead for three months on present prices. CANNED PEARS. Considerable business has been done dur-' ing the past .season in Canadian pears, packed in No. 2 size tins, at a much lower price than the usual No. 2} packing. Local canners have proved that as far- as pears are concerned tha New Zealand grown fruit compares favourably with the finest imported. and it may be possible for this Now Zealand fruit m the No. 2 packing to become as popular as the Canadian line selling at present. POTATOES. With no arrivals this week, and none, to arrive until the end of next week, merchants are working on store stocks, and these are beaomimg rapidly depleted. It is expected that £$ 5b to £8 10s will be maintained for deliveries ex store, but as the f.o.b. price has weakened the next arrivals will probably sell at about £7 10s to £1 15s. With Australian demand gone, the-impres-sion among merchants is that a surplus stock will develop in Canterbury before the end of this season, and this should kea»> prices at a low level. A steady demand continues for seed potatoes. ONIONS. • Japanese are selling at 22s' 6d to 23s a crate, but as must of the larger buyers were filled by their 1 contracts the general distributing trade is quiet. Another lot will be hero next week. OATS. Y Market is stationary, and local merchants are asking 5a 3d to 5b 6d. CHAFF. A steady demand continues at £l2 to £l2 10s for Southern, while the Australian arriving thi3 week has sold at £lO IPs to £ll. FOWL WHEAT. The same vessel is bringing wheat, for which the market is firm at 9s. There seems to be no possibility of a fall till a shipment of' Canadian arrives, about the middle of November, and this is expected to sell at about Is less than Australian. MAI3E. - Arriving fairly well from tho coast. Bay of Plenty consignments are realising 6a 3d to 6s 6d on the wharf in wholesale lines, according to quality, while Gisborae quality commands about 8a more.