TRADE OF THE WEEK

New Zealand Herald, Volume LXX, Issue 21525, 23 June 1933, Page 5

TRADE OF THE WEEK

RETAIL AND WHOLESALE . ADVANCE IN TEA PRICES i PRODUCE MARKET REVIEW A satisfactory movement of stocks 6 this week is reported by the distribute w ing trade. In some.quarters orders were 0 rather better than expected. Firm conditions continue to operate o in overseas markets. The outstanding Ii feature has been the further rise in ® tea prices at Colombo and Calcutta. „ Since restriction of output came into « operation on April 1 values at the tea t auctions have hardened by 2d to 2Jd j per lb. on a sterling basis. With the n high rate of exchange riding this means [ a proportionately larger increase to > New Zealand blenders. \ The grain and produco markets arc b steady. c JORDAN ALMONDS o The market for new season's Jordan almonds for September-October shipment , again is firmer. Latest cablegrams from { London shippers notify an advance of £lO a ton. v BRAZIL NUTS j, In' aympathy with the firmness of all E grades of nuts and almonds, prices for * Brazil nuts continue to advance, present £ rates being over' £8 a ton above the Quota- !j tions ruling some six to eight weeks ago. - Cablegrams just to hand advise that still higher rates can be expected shortly. In view of the very low levels which these rj nuts have reached, the sharp advance was fully expected. Shelled Brazil nuts also are f much firmer, the present prices being from ( Id to ljd per lb. above previous rates. r J LEXIAS C Australian lexias are meeting with a fair demand from the retail trade and a shortage has arisen, owing to the small quantity -j broufrtit forward by the last direct steamer j from Further supplies, however, to hand during the week by the j Vanftanella. as agents were able to cable j in tiiiip. for shipment by this vessel. 0 RANGOON RICE' I Business is now being done in Rangoon _ rice for the next direct steamer from that ' source at an attractive price; in fact, this -! commodity is almost at. its-lowest level for . some years. Present rates are about on a , par with the prices ruling for the last c direct .steamer, when fair supplies were j brought in. SINGAPORE MARKETS The firm conditions which developed in the Singapore market for eago and tapioca last week have not been maintained and this week's cablegrams report a sharp decline in both these commodities. Nutmegs and peppers are easier, while pineapples are mainly firmer, with one or two lines unaltered. KAPOK Cablegrams received last week from Sama- v rang show that the market for kapok re- I mains on a firm basis and that values are a likely to. go even higher, as it is under- ] stood stocks of prime Samarang kapok are f light and are in strong hands. The new J season's crop is two or three months away J yet and it is too early to* predict what i influence this is likely to have on prices. 1 JAVA PEANUTS 7 Business is being done in Java peanuts for the next direct steamer loading j in July-August at what are considered very j favourable prices, the rates being slightly i below those ruling for shipment by the last , direct steamer. The latest cablegrams, how- j ever, show that the market has hardened j slightly, an advance 'of 5s a ton being { named on further lots. The peanuts for the ' next direct steamer are. of course, new crop and this has renewed buyers' confidence somewhat, as a fair proportion of tlie_ last direct shipment was of inferior condition. • • COFFEE Pyces for Java Robusta coffee, fair ?tver- ( age quality, have been easing of late, and the price for new crop for forward shicment about the end of July is about £3 a ton below the ruling rate for prompt ship- , ment. Java coffee has been in rather short supply on the spot. * owing, to extent no doubt, to the cheap prices offering for forward shipment.' CORNFLOUR Owing to the delay in the arrival of a shipment of bulk cornflour from Canada there has been almost an acute shortage , of this commodity in the spot market. Supplies' wore expected about a month ago, but failed to come to hand, owing to the diversion of the Canadian Cruiser to Australia This vessel has now reached port simultaneously with the Canadian Challenger and as both these vessels have shipments of cornflour fox this market full supplies will be available in a day or two, TEA At the Colombo tea auction 2,500,0001b. was offered this week. Quality was unchanged and there was a' steady general demand, all grades showing a rise. Commons and mediums advanced id to }d per lb., while good teas were considerably dearer. Exchange is unaltered. Next week's auction will comprise approximately 2,000,0001b. , The report from Calcutta advises a strong general demand. Commons and mediums advanced id per lb.; others were strong to dearer. v A trade report for April received by mail from Colombo states that owing to the Easter recess intervening only two sales were held during that month, the total offering amounting to 7,000,0001b., as against 12,500,0001b. for the corresponding month of last year. A feature of the first sale of the month was the exceptional demand for teas for' price, commons and commonest kinds in some cnees showing an advance of Id per lb. Medium descriptions met with fair support at slightly under previous r.ntes, while high-grown teas, particularly where quality showed a falling off. met with little competition and sales were effected only at reductions on last prices. At the second and last sale of the month there was strong general inquiry for all low costing teas, prices for which ruled firm to dearer, but high-grown sorts again were weaker. Medium grades of all descriptions with the exception of Pekoes opened firm, but there was an easier tendency toward th« c!m(* of the sale for those with poor style or lights liquor. POTATOES Spot stocks of potatoes generally ar* light, but 'there are sufficient to_ meet the demand. A further shipment is due on Mon-, dav and the market remains firm, although it is still nossible to secure narcels on the spot at below f.o.H. parity. Quayty on the whole-is good. Values remain around £7 a ton through store. • ONIONS Limited quantities of Southern onions continue to. arrive. Quality is very fair and they are worth £7 10s a ton through store. Good quality local onions are commanding £8 a ton. WHEAT The recent advances in the wheat, market have scarcely been maintained. The pnsj ; tion in the South is a little easier. The valued here remain at about 5s a bushel through store. MAIZE The bulk of the demand for maize is centred in good quality new season's srmn. which is giving 'satisfaction and is' Worth about 4s n, bushel thrbugh store. Holders of bid season's are finding it necessary to reduce prices to meet the competition from the new season's grain BARLEY Australian barley is in slow demand. Ample stockc are held on the spot and it is worth about 4s a bushel clipped. OATS AND CHAFF The oat market is a little steadier, but the demand for feed oats is very disappointing. B Gartons are selling at around 2s lOd a bushel, while A s, which are in short supply, are firm up to 3s 6d a bushel. There is a little better demand for chaff, which is wholly Southern. Prices are firm at £6 10s to £6 15s a ton through store BRAN AND POLLARD There is no movement in the market for bran. The demand is steady and prices are unaltered. Inquiry is firm for Australian pollard and limited business is being placed in Australia at prices in advance of recent importations. Local pollard remains at. Ab 10s a ton through, stove, and Australian is worth £6 15s. - « AUSTRALIAN PRODUCE Received June 22, 6.55 p.m.) SYDNEY. June 22 Following are to-day's quotations on the Svdney produce market:—VVheat: On sidings, 2s Bid for bulk and 2s GJrl for bftcgou, equivalent to 3s *id flnu 3s ljcl ox trucks Sydney. Flour, £lO ss. Bran and Tasrnanian, £6 to £7; Victorian, £.> 10s. Onions: Victorian Spanish, £5 10s: Globes," £4 10s. Oaten hay, £7 10s. Maize: Yollowi and white, 4s 4cl. Adelaide prices are: —Wheat: Growers' lots, 2s Hid to 2s. 11 Jd. Flour: Bakers' lots, £8 12s 6d. Bran and Pollard, £5 2s 6d; Oats.-Algerian, Is lOd.