PRODUCE MARKETS

New Zealand Herald, Volume LXXI, Issue 21962, 20 November 1934, Page 5

PRODUCE MARKETS

TRADE IN AUCKLAND QUIET TONE GENERAL BUYING IN SMALL LOTS There is little of particular interest in the produce market in Auckland. The tone of the market generally is quiet and most of the buying now is in small lots. Stocks only are being cleared and there is some interchange as between merchants. Activity will not develop until the new year, when quotations for new season's crops become available. In the potato market a stage has been reached where Southern supplies have given place to the new season's local crop. New season's onions should be available for marketing within a few weeks. Requirements of agricultural .seeds have been filled for the year and there will bo little business in these until the new year. Similarly, merchants are experiencing a limited only in fertilisers. POTATOES The demand for Southern potatoes has eased considerably and the season is now practically over. The Wingatui is duo on Thursday with a further small shipment and it is doubtful whether any more supplies will be required. The vessel has been delayed a few days, but this fact has hardly affected the market. Agents for Southern firms are still holding stocks from last week's steamer and these are rather difficult to quit. Some supplies have been diverted to the auction rooms for disposal at the best price offering. The price through store is about £5 10s a ton. There is a firmer tone in the market for new potatoes; which are worth about 6s Gd a bag through store. The supply is not excessive and a good demand is being maintained. It is possiblo that the early crop may lie shorter this season owing to the cold winds and rain in the winter followed by the recent spell of dry weather. However, tho present rains may have a beneficial effect. It is too early .yet to obtain an indication of the main crop. ONIONS The market for onions remains firm, with prices ranging from 15s to 103 a bag. It is unlikely that there will be any further Canadian importations, due to the approach of the local season. Fewer Canadian onions were imported this year owing to the carry-over of local slocks in cool store. The recent dry weather may havo the effect of hastening the local season. If tho domestic onions are on the market in about three weeks' time, present stocks of imported onions will be sufficient to fill requirements until that time. FOWL WHEAT In the wheat market interest is centred on the prospects for the coming season's harvest. There is a slightly better tone in the fowlwheat market generally as the reports of the acreage and the carry-over indicate fairly firm values. The opening values for forward requirements were originally fixed at about 3s 3d a bushel but these have now advanced to 4s. Just at present small supplies are available from the South at reduced rates owing to space requirements in stoves for the current season's wool. There is a good spot demand in Auckland at prices about 5s a bushel through, store. MAIZE The maize market is dull, prices being unchanged at about 4s a bushel through store. Most merchants bought forward earlier in the season and only small lots are now coming from Crisborne. It is unlikely that there will bo any importations before the new crop nest June. Present landed prices for South African are well abovo local parity. OATS AND CHAFF Although a shipment of 15,000 sacks of oats was mado to tho United Kingdom from Bluff last week, this has had no effect on the local market. The demand is extremely quiet, with feed oats worth about 3s 4d a bushel. There is a steady demand for chnfT, which is worth about £7 15s a ton. The regular service from Picton this year has been of considerable assistance to the trade, which has been able fo maintain a steady supply to buyers. AUSTRALIAN BARLEY Slocks of imported clipped and dressed barley aro now just about exhausted. There is a fair demand but quotations make it fairly difficult to import. The present price is firm at, about 4s to 4s 3d a bushel. Reports indicate that values for new season's South Australian barley will show a firmer tendency. BRAN AND POLLARD There is at present a good demand for bran, brought about largely by the recent dry weather. However, if the rain continues, green feed will be plentiful and this will tend to limit the inquiry. Most supplies aro coming from local and Southern mills and stocks of Australian bran in store aro short. Quotations range about £G a ton through store. _ ... The demand for pollard is satisfactory and regular supplies afe being shipped from Melbourne and Sydney. It is reported that tho Australian Government is m_tho market for pollard nnd thi3 may affect prices, which will depend on the domestic and overseas demand. Present values through store are about £7 a ton. CORN SACKS AND SUGAR BAGS Corn sacks and sugar bags are in steady demand by produce growers. Prices for com sacks show a slight advance on last year, but sugar hags are selling at steady values. A new style of light bag from Calcutta appeared on the market thia year. NATIONAL INSURANCE ANNUAL MEETING HELD [BY TELEGRAPH —PRESS ASSOCIATION] DUNEDIN, Monday The 61st annual meeting of shareholders of the. National Insurance Company of New Zealand, Limited, was held this afternoon. The chairman of directors. Mr. John Moloney, presided, and there was a fair attendance oi shareholders. The report and balance-sheet were adopted. The retiring directors, Messrs. F. W. Mitchell and J. Sutherland Ross, were re-elected. Details of the accounts for tho year were published in the Herald on October 30. DAIRIf PRODUCE MARKET Joseph Nathan and Company, Limited, has received the following cablegram from its London principals, Trengrouse and Nathan, Limited, under date November 17:—Butter, finest. 74s to 755; first, 72s to 735. Cheese, 51s. Both markets aro weak.