TRADE OF THE WEEK

New Zealand Herald, Volume LXX, Issue 21663, 1 December 1933, Page 7

TRADE OF THE WEEK

BETTER CHRISTMAS BUYING DUTY ON DRIED FRUITS PRODUCE MARKETS QUIET Distributing business for Christmas has registered a definite improvement over that of last year. Wholesale houses have been exceptionally busy during recent weeks. To cope with the extra turnover lately, a number ot bouses have strengthened staffs.' A revival in the grocery trade Ins been a feature of generally improved conditions, while another favourable factor is a marked increase in fancy goods business in. comparison with last year. The results of the recent wool saio have had a further heartening effect, although it is too early for its effects to be reflected in turnover.

As a result of the heavy clearances in all Christmas lines, shortages are developing, and in practically every seasonal lino the demand has- proved tbat most houses underbought. Largo consignments of California!! dried fruits are due to-day, and as the Australian trade treaty came into effect at midnight, these will carry a duty of about lid per lb., which will increase the cost to the consumer. A move, however, has been made to have the duty waived on this shipment on the grounds that competitive Australian fruits will not be offering again until April next. ■ . t Fairly quiet conditions exist in the grain and produce trade, which is experiencing the usual lull of between seasons. The potato market is finning and high prices continue to rule for oniono.

EASTERN MARKETS This week's quotations for baeo arc firmer, and those for tapioca Pepper prices are unaltered. With the sailing of the direct steamer early this month there will possibly be omy one mocf opportunity for shipment. ALMONDS The market for Sicily almonds remains slightly easier, and a fair amount of business lias been done in small parcels, lhe spot market is not well supplied and is likely to be very short before Christmas. Quotations for new 6eason's Jordan almonds for prompt shipment are now over i.20 a ton above the opening rates for the shipments which have just been landed here. Prices are still much lower than in former years, and with the Christmas demand local stocks are being rapidly depleted. The. demand, however, usually falls away once the Christmas triune is over. , , On ruling prices Valencia almonds pare very attractively with other grades, l.ut not being bo well known in the New i Zealand market, no great interest is being shown. DATES Quotations arc now available for dates for shipment from London from now until June. Advice from London is to the effect that prices may ba expected to advance very strongly owing to a shortage of sound fruit.. As is to be expected, prices for forward shipment vary in accordance with the period for which the datet, have to bo etored in London. Buyers ore mainly interested in shipment from London owing to the fact that this line is never improved by storage at Busra, and on. certain occasions very poor quality fruit has beeD received from the latter source. PINEAPPLES The market for pineapples shows a tendency to advance, and some shippers announce rises of Id a dozen. Other messages indicate that further advances are to be expected. Fortunately moßt buyers have aheady covered for. shipment by the December direct steamer, but tnose who have not done so will, no doubt, have to pay higher prices than those ruling during last month. With the direct steamer due to sail shortly, only limited space is now a\ailable. WALNUT MEAT

Although several email shipments of new oop Manchurian walnut meat have already landed, the local market is short. Further shipments will be arriving .during tho month, but some of these will not reach port until a few days before Christmas. Prices for forward shipments are now most favourable, and, as one agent advises advanccd. prices nnd & firming of the market j in Tientsin, considerable business has beeD cabled during the past week. DRIED FRUITS The advice that the new duty on foreign raisins of Id per lb. plus 9-40ths surtax will come into operation lias had the effect of firming prices locally. Considerable quantities of raisins. muscatels, etc., are arriving by the Mariposa this morning. If these are subject to the new duty prices to the retail trade will nave to bo correspondingly increased. TEA The quantity of tea offered at this week's Colombo auction was 1.510,0001b. lhe quality of high-grown teas showed a slight improvement. There was a strong general demand. Commons remained very firm. Mediums and good advanced id to id per lb. Exchange is quoted at Is 6 l-16d to the rupee, 00 days' usance. Next week's auction will comprise approximately 1,750,0001b. ■Reports from Calcutta advise a good demand in all grades, with the market very firm. POTATOES Fairly substantial business is passing in now potatoes, and during the last two days there has been a noticeable firmness m the market without any marked change in values. These remain around 3s 6d to 46 a bag of 561b. through store. ONIONS • A good demand continues for Canadian onions and stocks generally are light, r*ew season's will be looked for soon Christmas. Values are firm at 22s 6d to 23s Cd a bag. through store. WHEAT The market for wheat is very steady, with prices around 5s a bushel through store. ' MAIZE An advance has taken place in the price of maize, principally due to the fact that most supplies have now reached stronger hands. ValueS rule around 4s 3d a bushel through store. AUSTRALIAN BARLEY Stocks of Australian barley are very Unlit, and are worth around 4s 2d a bimhel for clipped. A further shipment is duo about Christmas, and it will be followed by monthly shipments. OATS AND CHAFF Tho recent firming in the .price of oats bus been maintained, and forward quotations show an advance of 3d a bushel or. ruling rates. It is expected that oats will be higher in price during the coming season in comparison with last. Similar conditions exist in chaff, which has advanced during the Inst ten days. Forward quotations indicate a rise of about 15s a ton over last year's rates. BIUN AND POLLARD The hran market is steady at 5s a ton through store. There has been no alteration in pollard. Stocks of Australian «ro fairly heavy, and there is a figod demand at £& 5s a ton for New Zealand through store and £0 35s a ton for Australian on the same basis. SODIUM CHLORATE All available upaoe is now being coiciod for the shipment, of sodium chlorate to New Zealand up to the end of the year. A shortngo has existed ill tlilfl line, tllld till business now offering is greater than the space available. Tho Board of Trade regulations cover shipments of only ten tons at ft time, nnd it is impossible to secure more than this in a. single shipment unless bv special sanction of the Board of 7 r " f ! e ' The next vessel due with supplies is lhe Cambridge, followed by the Zealandic. Ine spot mnrket is practically bare, and the arrival o f these two steamers is anxiously awaited. Both vessels' cargoes are well booked. _____