TRADE OF THE WEEK.

New Zealand Herald, Volume LXIX, Issue 21111, 19 February 1932, Page 5

TRADE OF THE WEEK.

RETAIL AND WHOLESALE.

ECONOMIC INFLUENCES FELT.

PRODUCE MARKET REVIEW.

Beyond the uncertainty with regard to overseas exchange, trade in the city during the week has been rather featureless and quiet. Conditions showed a little improvement toward the end of the week and all houses will be fully occupied next week with the month's deliveries. It is considered that- the exchange position is vholding up a substantial volume of business, which will remain in abeyance until something definite is known. EASTERN MARKETS. Slightly lower prices nre available this week for tapioca 3 for March-April . shipment. In regard to conditions in this market last month, McAlister's report, dated January 11, stated that Penang tapiocas were now cheap, and it was considered that purchases made around the current market should sooner or later turn out advantageously. Meantime, however, it wa.s thought quite likely that prices would decline further, principally on accotmt, of fear of trouble in India interfering with business. Shellac prices are about at the eame le - .'el as those ruling for the previous steamer. DATES. Although /he market for Khadrawi dates remains on a very firm level, London shippers are still prepared to book orders for both bulk and loose pack Sairs at favourable rates for epread shipment up to June next. Supplies of stoned dates are. however, getting short, and agents' prices have shown a considerable advance for'all forward shipments. BRAZIL NUTS. Reports from various sources regarding the new crop of Brazil nuts are somewhat conflicting. Some shippei'6 have withdrawn quotations for Para nuts, but ar© able to offer Manaos at rather favourable rates. On the othei; hand, other shippers can sell both Paras and »Manaos, but the market generally is stated to be very firm. Prices for Brazil kernels have already advanced and new crop supplies are being quoted at a higher level than the present crop. PINEAPPLES. Quotations for Filian pineapples have been reduced, and tho lower prices should stimulate tho demand for this fruit, which is now well established. Only slight fluctuations have occurred in Singapore prices, while business with Hawaii is precluded by the high costs of conversion exchange. A report, to hand by mail states that the interest displayed by buyers in the United Kingdom in Singapore pineapples had eased and in the middle of last month the market, was very quiet. As a result of the recent heavy demand. however, canners were carrying practically no stocks, and as a matter of fact were somewhat behindhand with their deliveries. As a result they were disinclined to reduce prices in the meantime. HARICOT BEANS. The latest reports from overseas shippers advise that the market for Rangoon haricot beans ha 3 advanced approximately 10s a ton for new crop for shipment by the March-April direct steamer from Calcutta. Owing to the unsettled state prevailing in the East practically all cheap foods of this class have advanced in price. AUSTRALIAN DRIED FRUITS. Tho Commonwealth Dried Fruits Board estimates that the Australian pack of dried fruits for tho 1332 season will bo 72,000 tons, and it is recommending to the State Boards that the following quotas should be sold in Australia: —Currants, 15 per cent.; sultanas, 10 per cent.; lexias, 25 per cent. Action i 3 being taken, following a decision p? the committee, for dried pi unes, peaches, apricots, nectarines and pears to be proclaimed dried fruit 3 in South -Australia and Victoria, and the Minister of Markets is to be asked to introduce control of inter-State trade in those varieties. In view of the fact that there was no carry-over of dried, fruits from last eeafon, either in Australia or overseas, the market prospects for this season's fruit are considered to be very encouraging. JAVA KAPOK. Recent cables indicate that the market for prime - Samarang kapok remains firm with a tendency, if anything, for slightly higher prices. The demand has been steady, and shippers are not to be tempted to quote belo*' current rates. As with all Java importations, kapok must be bought in Dutch currency, and with tho fall in the pound sterling, a considerable amount has to be added to the r.i.f. price to arrive approximately at landed cost, all of which has had its effects on forward buying. TEA. At f-'vs week's Colombo ten auction there was an offering of 2,0C0,000ib. Quality of up-country teas was fine and no medium grades showed brighter liquors. There was a strong general demand. London paving extreme lates for fine quality. For common grades the market advanced 3d a lb. and mediums were id to }d higher. Exchange is Is 6id to the rupee. 90 days' usance. A report received by mail from Colombo, dated January 16, advised that during December quality again showed a further decline, which was not unexpected in view or the excessively wet weather experienced throughout Ceylon during the whole of November and December. The demand throughout the month was fairly well sustained, Australian buyers being again a welcome feature. The financial position in South Africa showed no change, and importers were experiencing great difficulty in arranging finance to cover importations. So far as general conditions affecting the local tea trade were concerned, the new year had opened none too propitiously. As the result of the financial position in NewZealand and South Africa, orders from these two countries had been considerably curtailed.'while the Australian demand had been principally for mediums and low grade qualities. A considerable of tea, had been withdrawn from local auction and shipped to London. A welcome change of weather had been experienced about ten days previously, and at that time there was already evidence that colder nights and drier weather conditions had resulted _in teas of considerably improved quality being manufactured. Smaller auctions and impioved quality generally were likely to be the result. POTATOES. The potato market is normal. There are ample supplies and there has been no alteration in prices. The only development is that supplies are now being offered from the Rangitikei distiict, much earlier than is usual. Supplies from that quarter are not generally looked for until about the end of March. Canterbury producers are concerned regarding the ultimate yield of the forthcoming crop owing to the continuance of diy weather there. Forward sellers are asking very high prices, but little business is being done from this end. ONIONS. Definito overseas business ' has been booked in onions. This has had the effect of creating a very firm market. At present they are worth 9s 6d a. cwt. through store. Inquiries are comins from Sydney. Vancouver and San Francisco, and further orders from any ,of these sources may see an advance in present-day rates. WHEAT. The wheat market is steady at late rates. Through store grade is worth 6s 4d a bushel and sample 6s 2d. OATS. Spot, stocks of oats are extremely light. The first of tho new season's is ottering for immediate shipment and prices are very firm. At present feed oafs are wbrth 4s Id a bushel through store and A Gartons 4s 3d. CHAFF. Chaff is in very light, demand and ample stocks are available. It is worth £S 10s a ton through etore. " MAIZE. The maize market is firm and business is being done at 6s a bushel through store. South .African whole is selling at 6s 3d and crushed at 5s 3d a bushel. Very limited ouantities are available by direct rail from Bay of Plenty. AUSTRALIAN BARLEY. There has been no movement of note in tho market for Australian barley. At present, importers are carefully watching the exchange position. BRAN AND POLLARD. The markets for bran and pollard nre unchanged. Bra.n is worth £5 ISs a. ton through etore. and Australian pollard is being done at 6s 6d a cwt. ' PROPERTY SALE. C F. Bennett, Ltd.. will offer at auction, nt their rooms, corner Queen and Shorthand Streets, at noon to-day, seven-roomed house on freehold section at 73. St. Stephen's Avenue, p.irnell; also six-roomed house nnd section, and adjoining section, with stablo, at a. Queen Mary Avenue, Epsom.