TRADE OF THE WEEK

New Zealand Herald, Volume LXX, Issue 21597, 15 September 1933, Page 7

TRADE OF THE WEEK

RETAIL AND WHOLESALE THE SALMON POSITION POTATO MARKET STRONGER The usual lull is being experienced in the distributing trade prior to the now month's business on October account, which will commence noxt week. Trade, however, remains on steady lines for current requirements, and with tho approach of warmer weather there is better inquiry for dried and evaporated and canned fruits, as well as canned fish. Few outstanding movements are advised in overseas markets. There seems to be a hardening tendency in the salmon markets, and the prospects for the new season's total pack are still uncertain. Most produce lines are dull, but there is an improving market for potatoes. Low prices greatly stimulated consumption, and with the stock position now more normal prices are showing a firmer trend. CLOTHES PEGS ' A keen market exists for clothes pegs. Prices of the locally-manufactured article have just been reduced, apparently to meet tho competition of recent landings of Canadian. DATES Supplies of stoned dates are now very short on the local market, and in consequence a greater demand is being thrown on bulk grades. As supplies of new season's will not arrive until early in December, stockß of all packings of the last crop are •xpected to become very short, before then. OLIVE OIL Cablegrams from France advise advanced prices for olive oils owing to the better demand from Europe and the higher cost of francs in terms of sterling. LEMON AND ORANGE OILS "With the firm tone ruling in the markets for lemon and orange oils, most buyers are covering their requirements at what are still considered very favourable prices in comparison with those ruling a year or more ago. ALMONDS Higher prices are being asked for both Sicilian and Spanish almonds. Most buyers, however, covered their requirements at lower prices earlier in the year, and very little interest is being shown in the current quotations. Spot stocks are not very heavy, and indications point to a good clearance before the new season b almonds reach New Zealand; PEPPER AND SPICES Heavy landings of pepper and spices from the Narbada' have replenished local stocks. Advices received from the East report the markets as dull but firm for any business offering at recent rates. PINEAPPLES A firm market exists for Singapore pineapples. .Although the Narbada discharged a large number of cases for various houses, the retail demand is strong at present, and in all probability, the line will become short before the next direct steamer, which is soheduled to arrive about the second week -in January. SAGO AND TAPIOCA Although the Narbada landed fairly l substantial shipments of sago and tapioca from tho East, 'these replenishments came to bare market, which developed following the light arrivals by the previous steamer. As a result a very keen Remand ejcists, and even at this early stage brokers _ are looking for stocks. A similar condition exists in peanut kernels, which also became exceedingly short. TEA Owing to. the fact that there was no sale last week, the quantity of tea offered at this week's Colombo auction amounted to 3,000,0001b. Quality showed a falling off. The market was generally easier. Common and mediums . declined id per lb. Other grades, owing to inferior quality, dropped id per lb. Weather conditions are now unfavourable for flushing, and small supplies ■ are expected. .* r.r..''' ; Advice from Calcutta reports ft good general demand, the market advancing id per lb. PILCHARDS Reports from Canada emphasise the failure of the pilchard run this season. In a bulletin dated August 17, a leading Canadian house advisee that none had been packed up to that date. That wds a month overdue, iind packers were doubtful whether any pilchards would appear at all. The seriousness of the position was stressed by the fact that the Government had a seaplane and patrol boats scouring the coast waters for some milca out to sea. In view of this news the position of local contracts is uncertain. The shortage of the fish may have the effect of turning trade toward English herrings. SALMON - A Canadian trade report received by the last mail advised that the sale of salmon had been heavy. England had already bought approximately 60 per cent of the cockeye pack, and the balance would not be more than sufficient to meet the requirements of Australia and Canada. It was the general opinion that the pink pack would be short, and the season was commencing with, an absolutely bare market. There was still time for cohoes to be packed in volume if the fish came in, but indications were none too bright for a large pack. The pack would depend upon whether canners could buy raw fish at a price which would show a profit, and that was . still uncertain. If not, the pack would be curtailed. The American market was, very firm, with pinks at 4.40 dollars a case. The packers considered their domestio market would readily absorb their entire production, and that under the Government scheme commodity prices would advance, including salmon. There would be some export of Alaskan salmon to Great Britain. AUSTRALIAN DRIED ERUITS The Commonwealth Dried Fruits Board reports that shipments of dried fruits to G rep t Britain up to August 31 totalled 31,240 tons of sultanas, 9512 tons of currnnts and 3521 tons of lexias. Sales of the 1933 harvest in Great Britain to date are 12,047 tons of sultanas, 8300 tons of currants and 1855 tons of lexias. The heavier clearances being effected follow urton the reports of reduced, tonnage in the Mediterranean and various _ Asiatio countries, coupled with the belief that Californian prices may rise under the influence of the American reconstruction plan. RAW JUTE Based on a crop area of 2,479,800 acres, the final official estimate of the Indian jute crop for tho current season is 7,933,200 bales of raw jute. The crop represents a yield of three and one-fifth bales to the acre, compared with more than four bales to the acre last year, when there were 1,903,000 acres under crop. Early in the season it was expected that a normal yield—about three and a-half Ijoles to the acre—would be harvested. Adverse weather conditions have caused the revision of the estimates. The official estimate was evidently in accord with the market estimates, for the announcement caused no reaction in the Calcutta market. POTATOES Spot stocks of potatoes are light at the moment a3 tho result of good clearances accompanying the recent sharp decline in prices. With only a normal shipment due next week, it is expected the market willremain firm at current values. Present prices are an improvement on last week's rates, and rule around £5 to £5 10s a ton, through store. The demand is being well maintained for seed potatoes, with prices generally at a low level. ONIONS The bulk of tho business in onions is still being done in Pukekohe lines. As these are growing, picking oVet is necessary. Values are dependent upon quality and range from 9s 6d per cwt. upward. FOWLWHEAT The fowlwheat market is steady, and the grain is commanding a good sale at around 4s lOd a bushel, through store. Undergrade is offering freely at around 6d a bushel less. MAIZE Steady conditions exist in the maize market, with no alteration in current rates of around 4s 3d a bushel, through store. OATS AND CHAFF The market for both oats and chaff is lifeless. Prices are nominally 2s 9d a bushel for feed oats and £6 5s to £6 10s a ton, through store, for chaff. BARLEY There is a very small demand for barley and only light stocks are held. Clipped is worth from 4s to 4s 3d a bushel. BRAN AND POLLARD The market for bran is unchanged at £5 15s a ton through store. A firm position exists in Australian pollard, and importations are limited. The price through store is £6 15s to £7 a ton. New Zealand is worth £6 10s a ton through store.