TRADE OF THE WEEK

New Zealand Herald, Volume LXXI, Issue 21911, 21 September 1934, Page 7

TRADE OF THE WEEK

RETAIL AND WHOLESALE INCREASING ACTIVITY PRODUCE MARKET REVIEW Orders on October account aro now at their height in the grocery distributing trade, and all leacTTng houses report an improved volume of trade. The approach of warmer weather has stimulated inquiry for suitable lines, and there is a noticeable increase in the movement of dried fruits and all lines of canned fish. Retailers aro also making forward bookings of essentially Christmas goods, the extent of which indicates a more optimistic view of the future. The weight of supplies has kept the potato market weak. New season's are appearing in greater quantity from Pukekohe, but reports from the district are to the effect that rain is rather urgently required to finish off the crop. Very few notable movements have occurred in other markets. LENTILS Quotations for Indian lentils for Npvem-ber-December direct steamer are higher than they have been for some time, but as the demand foi this line is inclined to fall off during the summer months, buyors are prepared to postpone ordering until more favourable quotations are available. HERRINGS IN SAUCE Supplies of canned fish are reported to be moving more freely. Quotations for herrings in tomato sauce have now been named for some time. These have been standardised by all the English packers operating on this market. Prices are slightly lower than last season, and a certain amount of business has been done. TOBACCO Ae all stocks of cigarette tobacco containing cigarette papers in wholesale hands have been cleared, these lines have disappeared from tho market. New lines of fine cut cigarette tobacco, which have been brought out as a result of the reduction in duty upon this form of tobacco, are selling well. ALMONDS A very strong rise in quotations for Jordan almonds has been indicated and shippers are now asking an advance of over Id per lb. on the prices named a month ago. Most of the Christmas business requirements have already been coyered. and buyers are therefore not keenly interested at today's high rates. The market for Sicily almonds also is firm, and current prices are considerably higher than those at which most of the new season's Christmas business was booked. OLIVE OIL Prices for present crop olive oil remain firm and variations are based practically entirely upon fluctuations in the value of the franc in terms of sterling. The new crop harvest is reported to be quite satisfactory, and the prices named for January shipment are considerably less than those for shipment immediately and for the remainder of the season. TEA The quantity of tea offered at this week's auction at Colombo amounted to 2,310.0001b. Owing to the large supplies the market declined by id to id Per lb. Next week's auction will comprise approximately 1,730,0001b. Exchange was unaltered. At Calcutta prices declined by id to id per lb. PINEAPPLES Stocks of canned pineapples were replenished by a shipment landed by the Narbada direct from Singapore. The demand for this fruit is showing an increase with the approach of warmer weather, and the scarcity of fresh fruit. It is generally considered that supplies will not be sufficient to cater for the demand until the arrival of the next direct shipment in January, a.nd some houses have preferred to pay the extra freight involved in shipment via Australia to ensure sufficient stocks. The market has_ remained fnirly steady at comparatively hieh prices for the last two months, and there is no indication at the moment of any casing. POTATOES The potato market is still well supplied, and the position both on spot and in the South is rather weak. Values through store remain around £5 5a to £5 10s a; ton. New crop potatoes from Pukekohe are coming in more freely, but rain is needed. Sefed potatoes ore in good demand. Ample stocks are available and these will be supplemented by South Island seed. ONIONS A steady demand continues for local supplies of onions, which are sufficient to meet requirements of the trade. Quality is entirely satisfactory, and they are worth around lis per cwt. through store. WHEAT Tho market for wheat remains steady at late rates. Spot prices are firm at 5s to 5s 3d a bushel through etore. Good lines of undergrade are available at 2d a bushel less. MAIZE The market is steady and good business is being done at around 4s 6d a bushel through store. OATS AND CHAFF The market for oats is inclined to weaken a little on the reoent rise. On spot, prices through store are steady at around 3s 5d a bushel, for feed lines. Chaff is steady with a quiet demand. It is worth around £7 15s a ton throiigh store. BARLEY Merchants are working on stored utc.cks of Australian barley. The price in Australia is not favourable for the importation of further parcels. Through store it is worth 4s 2d a bushel recleaned. BRAN AND POLLARD The Australian market for pollard remains firm, and no change has taken place in the spot market. Australian is worth around £7 a ton through store, and New Zealand £6 15s on the same basis. The bran market is quiet with a steady demand at £6 a ton through store. GOLD AND SILVER QUOTATIONS IN LONDON (Received September 20, 7.35 p.m.) LONDON. Sept. 19 Fine gold is quoted to-day at £7 0s 8d an oz., compared with £7 0s Od yesterday. Silver is quoted at 21 13-16 d an oz. spot and 21 Jd forward, compared with 21Jd and 21 13-16 d yesterday. The quotation for silver at per fine oz. is 23 9-16 d, compared with 23£ d yesterday. BUTTER-FAT PAYMENTS NORTH AUCKLAND COMPANIES [from our own correspondent] WARKWORTH, Thursday The Rodney Co-operative Dairy Company, Limited, is making advance payments for butter-fat supplied during August of 7jd and 7d per lb. for finest and first grade respectively. The advance for finest for the same month last year was ? 10d per lb. The Matakana Co-operative Dairy Company, Limited, is advancing to suppliers Bcl and 7}d per lb. for finest and first-grado butter-fat respectively supplied during August. TE AROHA-THAMES VALLEY [from our own correspondent] TE AROHA, Thursday The To Arolia-Thames Valley Dairy Company, Limited, is making an advance payment this week to suppliers at the rate of 9d per lb. butter-fat, as at farm gate, in respect of the August cream supply. AUSTRALIAN PRODUCE (Received September 20, 7.45 p.m.) SYDNEY. Sept. 20 Following are to-day's quotations on the Sydney produce market: —Wheat: At country sidings, 2s 3id to 2s 3d, equal to about 2s 10Jd to 2s lid, ex trucks, Sydney. Flour, £8 10s. Bran, £5. Pollard, £5 ss. Potatoes—Tasmanian, £9 10s; Victorian, £8 10s. Onions —Victorian, Brown Spanish, to £1) 10s. Maize—Yellow, 3s 2d; white, 3s 3d. Adelaide prices are—Wheat—Growers' lots, 3s. Flour —Bakers' lots, £9. Bran and pollard, £5 ss. Algerian oats, 2s 3d. Navel oranges, 4s 6d to 6s. Lemons. 3s to 6s. •.»