TRADE OF THE WEEK.

New Zealand Herald, Volume LXV, Issue 20081, 19 October 1928, Page 11

TRADE OF THE WEEK.

WHOLESALE AND RETAIL. PERIOD OF BRISK BUSINESS. PRODUCE MARKETS REVIEW. Tho wholesale houses havo entered on the busy period of the month, and have been actively engaged in preparing all the extra orders booked on November account for delivery in a few clays. The samo general features that were noticed last month are 'again apparent, namely, that city buyers arc operating sparingly, whereas the country trade is brisk.

A particulary good season lias opened, with production all tho more assured through thero being so mudi more rain than there was last year, and it requires only a, slight rise in the temperature to make the pastures perfect for maximum output. Tho genoral opinion now is that a good hay crop is assured, and with pastures and general cropping in such a promising state the trading is correspondingly moro active. Country travellers roport a most optimistic tone pervades most districts, arid tho tradespeople are looking forward to a continuation of tho present activity. City retailors aro still rather disappointed with the amount of business passing, considering the general outlook. Drapers and clothiers aro enjoying a seasonal increase of patronage, all the more pronounced when a few warm days urge the necessity for summer apparel. TEA. .At Uio sale in Colombo on Tuesday 1 800 000lb« wore offered, and the deniuna generally was not us brisk as at the previous week's sale, buying. from London "Bins rather restricted. High grade teas showed a slight fallius-ofl" in quality, and tho market for them was' easier. Prices for medium teas were irregular, but tor commons the market was dearer. isext weotc 1,790,0001b. will bo offored, DRIED AND CANNED FRUITS. A very attractive line of new season'* Californian dried fins is now offering in the shops. Canned figs aro also selling lairlv well. The demand all round is steadily increasing, and this is expected to continue until it reaches its climax m Christmas week. Canned fruits are very cheap thi» season, including locally cannefl pears These have been successfully competing with imported all the year, and aro now reducer! in price, making them still more in demand SUGAR. Numerous reductions lately reflect the weakness in the world's market, 'ine future is still regarded as uncertain, for eupplie" easily met tho greatly increased demand during the preserving season in the Northern Hemisphere without any hardening i» prico NUTS. Higher prices aro quoted in French walnuts, due to tho short crop, particularly in good quality nuts. Bordeaux halves are at a considerable advance. PEPPER. , The future of pepper seems uncertain, for prices have been abnormally high, and buyers havo consequently operated very carefully. London seems to control the market, and as soon as buying for that market stops there is a tendency for prices to fall. No fresh supplies of any magnitude aro due until the Indian crop is available about next March, and prices may be fully maintained until then. COFFEE. Prices are well controlled by the supervision ot Brazil, and no weakening is apparent there at present. Buyers are inclined to limit their purchases in case the situation should ease, having les.s confidence in control since the debacle in rubber. DRIED BEANS. Larger crops point to lower prices than last year, when the output was so small that there is practically no carryover. HAMS AND BACON. Factories are still keenly competing for business, and sides havo been reduced by Jd Hums aro not booking as well as usual for Christmas delivery. EGGS DOWN AGAIN. The wholesale price is down, and retail is expected to follow in a day or two. Most of the shops yesterday were still quoting 1 Is 3d for hen eggs and In 2d for duck eggs, and when the reduction to a parity with the wholesale price takes place it will bring 'i em lower than they have been for severa 1 yeurs. However, just at. present the most important point is not whether tho price in Is 3d or Is 2d, but that the local value is now so low that producers can get a bettei return by accepting _ the guaranteed oxport prico. This is causing a larger number to be set aside for export, and packing is going on as quickly as possible,- with a view to making up a large shipment to leave early next, month POTATOES. Sufficient supplies to last a week at least aro now held in Auckland, and the position is inclined to be easier. Local merchants are asking £l3 to £l3 10s, which is already below the Southern parity. No great change is expected in the prico again, for the demand is slow, and any tendency to rise is checked by the near approuch of the season for largo supplies of new potatoes. So far these havo been rather checked by cold winds, but warmer weather would promote a quick growth, and make Auckland independent of Southern old potatoes. There wps' a distanct .shortage o£ seed potatoes before tho Wingatui arrived, but sinco then a number of small orders have been executed. Tho prico has naturally been at an advance on rates quoted tintil a month ago, seed having followed table potatoes to a certain extent, but growers are encouraged to plant a few more, in case tho early crops aro exhausted through being drawn upon by tho high prices ruling for old. ONIONS. Very limited stocks of Cnlifornian and Canadian onions are held for 35s a case, and it is doubtful whether they will be sufficient to last until the Aorarigi arrives with another shipment. That will probably bo the last to bo imported from the Northern Hemisphere, as new season's Australian will 'be available early in December, if shipping facilities allow. Australian weather has been exceptionally hot during August, September aud October, and the onions aro doing so well that they will probably bo obtainable at about 17s. If tho crops continue as well as they now look, tho expectation of a lower price will slacken tho demand for North American. OATS. Tho rise of ono penny mentioned last week has been maintained, and the local prico is firm -at 4s 7d, ex store, for B grado. CHAFF. This is also firmer in tho South, tho shipping prico being up ss. The rise has not yet taken effect here, and merchants aro quoting £0 5s to £9 10a for best quality Southern. WHEAT. Tho sharp advance recently mado in fowl wheat has not been maintained, the shipping price having gone back twopence. Local merchants aro asking 7s Sd ex store, and it is genorally expected the market will harden again beforo long. There is some anxiety about next season's supplies, for tho acreage in wheat is less, and tho weather in Canterbury has not promoted a good growth There may bo such a shortago as to necessitate importing during next year. BI!AN AND POLLARD. Both are in quiet demand, with amplo stocks obtainable. MAIZE. Selling steadily at Gs Gd ex store, but a reduced demand is expected as the spring advances. However, the Bay ot Plenty growers are well situated, with moat of their harvest aold, and for tho remainder they can readily obtain 5s 3d on trucks. GRASS SEEDS. The usual spring demand has been coming in for grass and clover needs, but only in small quantities. A report of tho British Ministry of Agriculture 6tatea British seed crops were harvested in exceptionally good condition, owing to tho hot and dry weather in 'Tilly, whoroaa last year wet weather damaged many of the crops. •However, cabled quotations show tho yield was not heavy, apparently for lack of warm growing weather during tho spring, so imported seeds will probably bo dear again.

DAIRY PRODUCE IN LONDON. The Now Zealand Loan and Mercantile Agency Company, Limited, has received the following advico by cablegram from London under date October 17:—New Zealand dairy produce: Butter, choicest salted, 178s to 182s per cwt; cheese, white, 108s to 110s. The markets are slow.