TRADE OF THE WEEK.

New Zealand Herald, Volume LXVI, Issue 20263, 24 May 1929, Page 9

TRADE OF THE WEEK.

WHOLESALE AND RETAIL.

RUSH OF FORWARD ORDERS. PRODUCE MARKETS REVIEW. Ideal weather conditions have been a very important factor in assisting retail trade this week, all the main shopping areas being well filled with buyers. As the schools resume next week a good deal of buying on behalf of the children has taken place during the last day or two, and this is expected to be still more pronounced to-day. Many retailers are specially catering for this trade, and are offering an attractive display of requisites. Drapery houses have received a good call for all the special winter goods. The wholesale houses are now in the middle (5l a rush of forward deliveries on June account, and they report that this is all the more noticeable after the fairly quiet period previously experienced. Country business has been very good, coming quite up to the high yoluino expected to result from the good dairying season. City, trade is only normal, most buyers preferring to take small quantities from week to week, rather than to lay in large stocks when forward booking commences. IRON AND STEEL. Prices are held firm by the improved position of British makers. With the almost complete cessation of competition from the Continent the British makers are able to obtain higher prices for pigiron. The demand for better-class iron has lately exceeded the supply, and stocks have been rapidly reduced. This does not apply to the lower grades of iron, in which Continental supplies are still competing. It is stated that manufacturers are putting through a larger volume of trade in steel, but prices have not been remunerative and they are expected to harden when present contracts are completed Manufacturers of soft steel billots have full order-bopks, and there is also a better general demand for structural steel, with a tendency for the price to advance. Auckland importers are still indenting heavily from British manufacturers, in preference to Continental or American, as the costs compare very favourably. LEAD. The price is being largely held up by American buying, but Russia also has beeu operating more freely. There has been some anxiety that prices would not hold, for there is reason to anticipate a reduction in supplies, especially in Australia. Canada and Mexico, but so far the market remains very firm. EASTERN GOODS. Importers are now only a few days from having their anxiety relieved in regard to their consignments on the xlirect steamer Sussex, for the vessel should be discharging next week. Fortunately any Singapore pineapples destroyed can be replaced ot a favourable cost, for the market has gone down a little, and this is expected to result in very heavy orders for the nex* direct steamer, _ to arrive when the demand will be heavier. Sago and tapioca are known to have been lost and replace orders for these also will cost no more. The position in pepper is quite different, as it is known that a large quantity was destroyed and the market has fince advanced. Nutmegs are a little easier and could be readily replaced. The most difficult position will be in_ regard to Rangoon rice, as the winter shipment j 3 the most popular one for New Zealand, on account of the weevil risk being then almost negligible. Those who find that their consignments are among the destroyed will be reluctant to order much for the next steamer, as the warm weather will be hero before it could all be sold. TEA. At the sale in Colombo last Tuesday the catalogues comprised 3,500,0001b. and there was a good general demand. Common teas were in most instances firm to dearer the lowest, grades showing. an easier tendency In medium teas the market was steady, the belter grades being' slightly - lower, _ Next week nearly an equal quantity will be offered. It is announced that the new season's sales will commence in Calcutta on June 4. Very satisfactory reports on the crops have been received, and it is ex- . pec ted that there will be-a-satisfactory output of good quality. CALIFORNIAN DRIED FRUITS. Advices by the Niagara this week give the final corrected returns of the 1928 cron comprising the actual receipts from growers by members of the Dried Fruit Associati >n of California. Raisins come first with 257,900 tons, closely followed by prunes with 220,000 tons and then come peaches 25.200 tons, apples 22,100 tons, figs S3OO tons, and pears SGOO tons. Prices continue to firm alittle in prunes and seedless raisins Ho ever, it is expected that good quantities of the latter will again be imported when the new season's are available, for Smyrna sultanas are not offering at an attractive rate this season. " DATES. These are retailing in Auckland at exceptionally low prices, and good sales ho,ve resulted. This should continue, as further low quotations have recently been received and the quality is keeping up well. A noticeable feature is the increasing preference for cartons, and loese will also be obtainable for the rest of the year at r low figure. FIGS. Also selliug at such low rates as to induce a heavy demand. Smyrna fruit is very low, but Californian' has recently obtained a good share of the trade, apparently duo partly to the attractive packing. POTATOES. The delay in the arrival of the Waipiata has enabled all stocks and consignments to be cleaned right up, and t,he grojvers round Pukekohe have also taken the opportunity to get rid of their small balances However, there will be no shortage, for two vessels are clue to-day. bringing fairly large shipments, and the price for these will probably remain on a parity with southern values. Merchants are now quoting £8 10s ex store, or £8 for direct delivery from the wharf. It is understood that local potatoes are now exhausted, so the business will continue in southern. The market south keeps firm apparently influenced by some crops bing affected by blight. ONIONS. The market is very weak and as (his has taken place after thousands of sacks have been sent to Sydney it confirms the earlier advices that, the Canterbury crop was an exceptionally large one. It was helped by the samo favourable weather conditions as in this district, and the export demand has apparently taken only part of the consequent glut in supplies. Merchants are asking only £8 10s cx store, and in view of this low level local growers are inclined to hold until the Canterbury crop is sold out. oats Price is a shade firmer in the south, but local merchants are still able to quote Is 5d ex store to a poor demand. CHAFF. The price is up a little in the south for .Tune shipment, and it is expected that merchants will have to ask ;C9 15s from next arrivals. Meantime the price is £9 10s, but there is only a moderate demand, the contracting work that was taking up a fair quantity last month having now been completed. WHEAT. Fowl wheat is in good demand at- 7s Bd, but in the south the market shows a weakening tendency, with offers at a halfpenny less. It is known that a good many holders are. anxious to reduce their stocks, in spite of the strong position of this grain in New Zealand, and thia may be onlv a temporary move. ' BRAN AND POLLARD. The South Island is able to make up any deficiency in the local supply of bran but pollard is scarci and has to be imported from Australia. Merchants are waiting for the delayed Kaponga from Adelaide and Melbourne, due early in June, from which they are quoting £lO 10s to £lO 15s. There has been a substantial advance on the other side and it is doubtful if any more will be obtained MAIZE. Old grain is'very firm, and thero are no sellers here under 7s 3d ex store as Gisborne costs have risen considerably It is possible, however, that this is merely a temporary advance for during the week there have been offers of new grain from the Bay of Plenty at much lower prices. Merchants will exorcise extreme tare in buyini this, for, after all the rain during the latter part of the growing sevson it was expected that the new mair.e would lie later than usual this season, and ihat it would hav. to be stored longer in the cribs to be perfectly dry LONDON TALLOW MARKET, Dulgety and Company, Limited, report having received (lie following cablegram from their London house, dated Mnv 22: The tallow market is steady, but firm. Prices .'vro nominally unchanged.