TRADE OF THE WEEK

New Zealand Herald, Volume LXIX, Issue 21289, 16 September 1932, Page 7

TRADE OF THE WEEK

RETAIL And wholesale STEADY CONDITIONS PREVAIL POTATO MARKET FIRMER Steady conditions have prevailed in city trade dui'ing the week. A slight lull has been experienced in the distributing trade, a usual occurrence prior to the commence- | ment of orders on tho next month's ac- j count. Some for delivery on the 25th have already come to hand. In overseas markets there is a decided tendency toward higher prices for Continental lines, although on the other hand English goods are being quoted on more favourable levels. Firmer conditions exist in the potato market and prices have again increased on a short-supplied market. Pending arrivals appear to be barely sufficient for requirements. Similar conditions exist in the onion market. . CHEESE' Following the rise ill the London'market wholesale cheeso prices were advanced id a lb this week. Good lull-cream cheese lwa been selling at very low prices for some months. / EASTERN MARKET The market for Eastern goods is firmer this week. Trices have registered a general advance, with the exception of those for pineapples, which are unchanged. Ihe rates now being named are for November-Decem-ber direct shipment. SILD Quotations for si Id which have recently been nominatecLare very low and lnleiest is being shown m the Knglish brands, the quality of which has recently shown considerable improvement. With the lower rate of duty iti comparison with the. foreign article the English puck is becoming much more attractive to buyers. ACIDS Quotations for acids at present are very favourable to buyers and are, in fact, lower than they have been for some time. Citric is especially low in price. A reversal has occurred in the position of tartaric and citrio recently, the former now being slightly dearer than the latter. In consequence there is a greater demand for citric, which has in some cases in the past been substituted for tartaric owing to the lower cost. ALMONDS Following the reductions in the price of n°w season's Jordan almonds notified last week, cables from London shippers advise that the market has now firmed and quotations luivo advanced to tho former levels. New season's Sicily almonds are also tinning, 0115 shipper having been advised of an advance of I") a ton for September shipment from Sicily. DRIED FRUITS After being quoted at very low rates for some months, prices for new season s I hotr.pson's seedless raisins have advanced Ski per cwt, with higher rates expected. 1 resent prices are still favourable and must represent a loss to tho growers in California. prunes The opening prices for new season s prunes are 2s to 3s per cwt higher than the ruling rates for present crop supplies, but little business is passing at the moment, as buyers are waiting for the market to settle before operating. tea Owing to the tea traders' holiday last week, and the fact that there was no auction the quantity offered at Tuesday s auction at Colombo totalled 3,250.0001b. Quality showed a general falling off, particularly second invoices. Commonest, common and low mediums were steady. Medium and good soi . owing to the decline in quality, declined ?d to Id a lb. Exchange is quoted at 19 0 9-32 d to the rupee, 00 days' usance. At the Calcutta sale commons declined Id to Jd a lb and mediums Jd a lb. Others \v°re irregular and easier. The report of Shome and Sons, Calcutta, received by mail, states that the official crop figure for July shows a decrease °J. 1,000,0001b, making a total decrease of 4,500,0001b to the end of the month, as compared with last year. Total exports from Anril 1 to August 9 to Ivew Zealand weie against 232.9101b for the corresponding period in 1931. • POTATOES The spot market for potatoes has been short-supplied throughout the week, while the firmer tendency which has appeared in the South Island market has tained. Somo reports indicate there not sufficient potatoes in parts of the- South Island to meet domestic requirements. A shipment duo by the Port Waikato to-mor. row will comprise only about 1500 sacks and these are keenly wanted, while the Waipiata's shipment early next week will be light and should go into immediate consumption. As a result the market expected to continue its firmer trend Pi ices to-day show a further rise of about 10s a cwt.. around £9 10s a ton being quoted through store and £9 5s a ton ex ships as they arrive. A small shipment of Japanese onions transhipped in Sydney was landed this week from the Zealandia in very good condition. These were done through store at around 30s a case. The long-delayed direct shipment by the Melbourne Maru is due to-day. Considerable business has. been done to arrive and high prices are likely to continue until early October, when the first larKo shipment from Canada will provide the only real relief to the market for somo tune. FOWLWHEAT Very little inquiry is being received for the Government importation of fowlwheat due early in October. Thero are indications that a certain quantity of cheaper grade wheat will be available, within a few weeks and owing to the inquiry for cheaper fowlwheat as a result of the low prices °f eggs, this should meet a ready demand. At piesent. graded ia worth from 0s to 6s 4d a bushel through storq and undergrade around 58 H ' MAIZE Quantities of maize coming forward from tho Bay of Plenty are not as large as \vas expected for this time of the year. Prices are being maintained at their former level, there being no .sign of the reduotion hoped for as a result of. the importation of Ausraliari fowlwheat. Business is being done on the basis oMs Gd a bushel on va.l Bay of Plenty stations, and _ss 3d a bushel through store Some bus.ness is still passing in South African at aiound js Jet. *OATS AND CHAFF The market for oats and chaff remains steady at hit* rales. The demand foi bat" | lines is quiet. Feed oats are worth 4s 4d a bushel through store and chaff from £8 10s to i'B 15s a ton. BARLEY No. change has occurred in Austrnbnii feed barley. Prices are steady at 4s 3d to 4s 0d a busli-1 for clipped and 3s 9d to 3s lOd a bushel for undressed. BRAN AND POLLARD Brim and pollard continue in short supply and merchants are nnnble to secure sufficient supolies to fulfil orders completely. Prices in the meantime are unaltered. Bran is worth i's 10s a ton from the mills and £0 a ton through store. I'or po'lard the mills are charging JCfi 10s a ton Merchants oro asking X 7 a ton through store and £7 10s a ton for Australian. MANUFACTURE OF RENNET ELTHAM COMPANY'S REQUEST [BY TELEGRAPH —PRESS ASSOCIATION] ELTHAM, Thursday The Minister of Agriculture, tho Hon. C. E. Macmillan, visited Eltham to-day and inspected tho promises of tho New Zealand Co-operative Rennet Company. He was much interested in what was described ns a 100 per cent New Zealand industry and an outstanding example of successful co-operation. Mr. C. A. Wilkinson, M.P., and the company's manager, Mr. G. H. P. Fitzgerald, stressed the fact that rennet was a key to the Dominion's cheese industry , and urged that an embargo be placed on the exportation of veils from New Zealand to Europe. The company had saved the dairy industry many thousands of pounds and veils provided its raw material. In a sympathetic reply the Minister ) sa 'd tho matter was at present under consideration between the Government de- ' purtment and the others interested. ) ) P. AND O. DEFERRED STOCK LONDON. Sept. M P. and O. deferred stock is quoted 1 to-day at 21s ijd, compared with 21s 3d ' yesterday.