TRADE OF THE WEEK

New Zealand Herald, Volume LXIX, Issue 21253, 5 August 1932, Page 7

TRADE OF THE WEEK

RETAIL AND WHOLESALE BETTER TONE EVIDENT PRODUCE MARKET REVIEW A better tone has been evident in city trade conditions this week. Wholesale distributing houses have received satisfactory orders, and retail business also has gained some impetus. In groceries the demand is chiefly for cold-weather foodstuffs, particularly cereals. Dried fruits are also moving out well, while an increased demand for matches and candles has been a feature of the orders Upon some houses. Little change has taken place in overseas markets, but advices from shippers give evidence of a fairly general hardening. Some orders for Christmas and summer goods have been made during the week, but a large volume of business for September-October shipment is still in abeyance. Steady conditions exist in most grain and produce lines, but the potato market is again showing weakness. ALMONDS .\ )een received from overseas snippers that tho markets for both new i 1 and Sici,y alm °nds have legislered advances. TURPENTINE l uo tationg for American turpenieneralTy higher adVanC ° and re3iUS Bre EASTERN MARKET .A report from Singaporo advises an easng in the market for sago and tapioca. A rices for pineapples are unchanged. The JNarbada is due to leave Cnlcutta on Satur.'y. should clear Singapore nest week with the July-Augu&t loading for New Zealand. TEA Tho _ tea auction at Colombo this week comprised 2,000,0001b. All common grades were very strong, advancing l-8d a lb. Low medium grades also were in strong demand. Fine teas met with a good general demand. Nest week's auction will comprise 2,000,0001b. Exchange is quoted at'ls GJd, 90 days' usance. Advices from Calcutta reported a better general demand. Common grades and low mediums were slightly dearer. Medium grades advanced id to id a lb. All others were without material change. Local business has shown an improvement in the last few weeks. There has been a better demand for good packot teas, in preference to the. cheaper grades which had recently found greater favour. RAISINS Cables just to hand from San Francisco shippers of dried fruits advise an advance in tho rates for new season's golden bleached raisins. Present offers are approximately :Js Gd a cwt. above prices quoted last week. No changes have been notified in unbleached and other varieties, although it seems possible that these also may advance before long. AUSTRALIAN DRIED FRUITS Tho Commonwealth Dried Fruits Export Control Board advises that for the season to date shipments to Great Britain totalled 23,729 tons, of which 7886 tons had been sold for a total of £426,904. The quantity unsold or afloat was 15,843 tons. At the corresponding date last year sales were 7131 tons for £327,5U and the quantity unsold or afloat was 15,899 tons. The support accorded to tho industry by heavy sale 3 to Canada and New Zealand, which had taken to tho end of July 17,500 tons, was of tho utmost importance, and ha 3 markedly atfected tho internal finance of tho seasonal production, now estimated at not less than 53,000 tons, of which more than half had. been sold within five months of tho opening of the season. AUSTRALIAN ORANGES Approximately 10,000 cases of Washington Navel oranges from Victorian and South Australian orchards wero shipped to New Zealand in the latter part of lust month. ; The consignment was the third of any magnitude esported from Victoria this season. Previous shipments consis'ed of from 7000 to 9000 case 3. Exclusive of private consignments forwarded to tho Dominion from New South Wale 3, it was estimated that New Zealand markets had provided an outlet for rearly 30,000 cases of oranges this season. Apart from that, several consignments of lemons had been disposed of, at rates ranging np to 17s a case. Efforts are being made to improve the strain of the Washington Navel oranges in order to foster the with New Zealand. .! NEW SEASON'S APPAREL Displays.are already being made of new seascn's draperies, which are now coming to hand in larger volume. Mostly lightweight, very fine woollens in materials and made-up garments predominate in the spring styles. Woollen jumpers aro in marked evidence, whilo art. silks are apparently becoming increasingly popular, tho latest offerings combining tho attraction of economy with moro comprehensive designs. Tho predominant colours are primrose and blues. A report published in, tho Drapers' Record, London, last month stated that drapery exports to New Zealand had risen during the month, and a definite improvement over tho amount sent out afc tho samo time last year wns reported by a big wholesale shipping house. POTATOES What strength tho potato market possessed during tho last two weeks is being lost in view of tho arrival of a fairly substantial shipment next week. Store etocks are lient. but it is thought that next week's prico will bo about 10s a ton lower than ruling rates. Present values are around £8 a ton through store. ONIONS Store stocks of Japanese onions are now fairly light, and will _bo next week when a largo direct shipment is due to arrive from Japan. The prico of 19s a crate is being maintained through storo. Limited quantities of locals are still available at around 18s to 19s a cwt. The high prices ruling for onions have resulted in much larger areas being sown in Victoria for tho next season. Recent mailed reports advise that tho early Globes are making good growth and tho sowing of Brown Spanish is now being completed. Many growers experienced a profitable year. Large quantities were sold out of the paddocks at £l2 to A'lß :i ton, and those who held stocks recently received tho exceptionally high prico of £2l a ton. Yields were not up to the level of tho two previous years, which wero exceptionajly good, but the rdturns in general were highly satisfactory, and have given fresh impetus to the industry throughout tho growing districts. FOWL WHEAT The market, for fowl wheat is steady at around 6s 4d a bushel for best grade through store. MAIZE In anticipation of lower values ruling for new season's maize, buyers aro not operating except to fulfil immediate requirements. South African is still inquired for at 5s 9d a bushel through storo. Tho wholesale buying price of local grain remains at 4s ;id on trucks. Bay of Plenty. AUSTRALIAN BARLEY A good demand continues for Australian feed barley, without any alteration in price. OATS Tho demand for oats is very quiet, and tho market is generally weak. Feed oata aro worth around 4s 4d a bushel through store. CHAFF Rome improvement has been registered in business in chaff. Ample stocks are available. The prico is steady at £8 15s a ton through store. BRAN AND POLLARD Bran is selling well owing to the cold weather. No nlteration has occurred in values. A good demand continues for pollard. Through storo it is worth £G 10s a ton for New Zealand and £6 15s to £7 a ton for Australian. DAIRY PRODUCE PRICES LITTLE CHANGE IN VALUES Prices for New Zealand butter on tho London market aro practically unchanged, but the market is slower. Merchants have received the following cablegrams from their London houses, dated August 3: — A. H. Turnbull Jind Company, Limited, from W. Weddel and Company, Limited: —Butler: Danish, 108s to 109s; New Zealand, finest salted, 104s to 105s; Australian, salted, 99s to 102s. The market is weak. Cheese: New Zealand, white and coloured, 55s to 58s. Tho market is firm. New Zealand Loan and Mercantile Agency Company, Limited:—Butler, 105s to 106s. Tho markot is slow. Cheese: White, 57s to 58s; coloured, 565, The market is steady.