TRADE OF THE WEEK

New Zealand Herald, Volume LXX, Issue 21449, 24 March 1933, Page 5

TRADE OF THE WEEK

RETAIL AND WHOLESALE

BUSINESS REMAINS QUIET

POLLARD PRICES REDUCED

No improvement lias been registered in trade conditions in during the week. Buying continues on an extremely limited scale and merchants are not placing replacement orders except in absolute necessities. One of the chief difficulties being experienced at the present time is that of gauging tho consuming demand as a result of diminished purchasing power and higher prices. These conditions are the most dominant in the distributing trade at the present time, but there is also the further influence of tho heavy purchases mado by retailers prior to the operation of the sales tax. In some cases these are not yet worked off owing to a curtailed consuming demand.

A reduction of 10s a ton in the price of pollard is the most important development in the grain and produce trade. This has followed a recent easing in the Sydney market, but tho price of Australian pollard on tho spot has also been reduced in sympathy with the local mills' reduction. Only minor movements have occurred in other produce lines. CREAM OF TARTAR Regular supplies of cream of tartar are being received from Australia and to u lesser degree from England. There is no alteration in quotations for this line m either of these markets. CEREAL BREAKFAST FOODS An increase of approximately 7J per cent is announced by proprietary firms locally manufacturing cereal breakfast foods, which have secured a lares ealo in recent years. The reason for the is stated to be the additional costs of materials used in packing as a result of the increased exchange affecting the landed price. PRUNES Agents have been advised by cablegram from Australia to withdraw prices for Australian prunes in tho meantime. So far no explanation has been received. Good business was done while these were available, but when quotations were first made it was announced that tho export surplus was limited. COFFEE Indian coffee is being Quoted from origin at the most- attraijtive prices for t-onie years. Most traders have taken the opportunity of covering their requirements at tlieso favourable figures during the past week. SICfLY ALMONDS Although short stocks of Sicily almonds in London nro keeping old season's prices at recent levels, new crop almonds are now receiving attention. Quotations for the new crop, for September-October shipment are reported to have declined a further t'2 10s a ton. Offers are, however, purely speculative. as no indication can yet be given of the prospects of the new crop. ,It is impossible at this stage to indicate whether or not the present quotations will go lower. Tho general trend of merchant opinion is to the effect that thev would sooner await developments than speculate, even on the low current pfices.

BRAZIL NUTS Latest information regarding new season's Brazil nuts, both in shell and shelled, is to the effect that these are very firm. One well-known shipper already advises an advance of id a lb in kernels. The demand at present is not heavy and most bookings are being mnde for July-August shipment from Liverpool. EASTERN MARKETS A report from Singapore advises that sago and tapioca have registered a slight easing again this week. Fair quality pineapples remain unchanged and a slight reduction has taken place in most grades of first quality. Crushed are unaltered. DESICCATED COCONUT Offerings of Papuan desiccated coconut in bulk and in one and half-pound packets are again being made at attractive rates. For some time past Quotations on this market have not been available. Priceß for Ceylon desiccated coconut remain unchanged and are slightly higher than those for the Papuan article. TEA The Quantity offered at the Colombo tea auction this week comprised 3.250.0001b. There was a good demand, especially for common grades, which were sjightly dearer. Medium «nd good kinds were easier, lixchange is quoted at Is 6 7-32 d to the rupee. The next auction will not be held until Friday, March .11. owing to the adoption of restriction which operates from April .1. The quantity to be oTered will comprise approximately 3,250,0001b. POTATOES No alteration has occurred in the potato market. Offers are very free and they are still selling at around £1 a ton through Bt ° re - ONIONS • Similar conditions as those affecting potatoes exist in the onion market. Values rule at £6 a ton through store.

fowlavheat

The market for fowlwlieat is weak. Heavy offerings are available from the south. T.hc price, through store, ia around -Is Gd a buahel ' BARLEY The market for barley is a little quieter owincr to the lower price of fowhvheat. Itnportationa from Australia are being restricted for the time being. Clipped is worth around 4s to -la 2d a bushel. MAIZE A quiet demand exists for maize. Supplies are firmly held and values remain steady at 5a 2d a bushel through store. OATS AND CHAFF . There is very quiet demand for oats, which are worth 2s 7d a bushel through store. Chaff also remains dull of sale arid is worth about £6 5s a ton through store. BRAN AND POLLARD A reduction of 10s a ton has been made in local pollard, which is now being offered through merchants' stores at around Au a ton. Australian pollard has also been reduced in sympathy and for this merchants are seeking £0 10s. to 15s a lon through etore. Bran remains unaltered at Aft ids to £G a ton through store. LONDON BUTTER MARKET NO CHANGE IN VALUES The London butter market is quiet, with New Zealand unchanged at up to 76s a cwt. A trade report states that a reaction has set in, following the activity associated with the restriction proposals. Merchants have received the following cablegrams from their London principals, dated March 22: New Zealand Loan and Mercantile Agency Company, Ltd.—Butter: Finest, 74s to 76s 6d. The market is extremely quiet and quotations are irregular. Delay in deciding on a restriction of exports has caused a reaction. Cheese: White, 425; coloured, 48s to 495. The market is irregular, with a slow demand. A. H. Turnbull and Company, Ltd., from W. Wed dell and Company, Ltd. — Butter: Danish, 96s to 98s. New Zealand, salted, 73s to 765. Australian, 73s to 755. Cheese: White, 425; coloured, 48s to 495. Botli markets are quiet.

Joseph Nathan and Company, Ltd., from Trengrouse and Nathan, Ltd. — Butter: 745. Cheese: White, 41s; coloured, 48a. Both markets aro weak. . AUSTRALIAN PRODUCE (Received March 23 , 7.25 p.m.) SYDNEY. March 23 Wheat.—Bagged, nominal, at 2s 10|d; bulk, 2s lOd; country rates, 2s 2d and 2s respectively. Flour, £9 ss. Bran and pollard, £4 ss. Potatoes, Tasmanian, £6 10s; Victorian, £5 10s. Onions, Victorian, Brown Spanish, £5 10s;' Globes/ £4. Oaten hay, £6. Maize, yellow, £3 10s. Adelaide prices are: Wheat-growers' lots, 2s 6d to 2s 6Ad. Flour-bakers' lots, £7 10s. Bran, £4 17s 6d. Pollard, £5 2s 6d. Oats, Is 5d to Is 6d.