TRADE OF THE WEEK

New Zealand Herald, Volume LXXI, Issue 21983, 14 December 1934, Page 9

TRADE OF THE WEEK

RETAIL AND WHOLESALE HEAVY CHRISTMAS BUYING BUSY CONDITIONS IN CITY Distributing business in the city has now reached its height, and practically all wholesale houses are working overtime to eopo with the trade offering. Particularly heavy orders for all seasonal lines have been placed, and delivery on January account will be commenced to the country to-day. City deliveries will be made on Monday.

All varieties of canned fruit are short and it appears probable that stocks throughout the Dominion will be cleared before the new pack arrives on the market about March. No word has been received regarding the Narbada, which is delayed at Calcutta by a stevedores' strike.

Betail business, too, is very heavy and grocers have noted an improved demand for better quality lines of a seasonal nature. There is a steady inquiry for ham, which is expected to be short. CITRIC ACID Cablegrams from London shippers advise an increase of £ls a ton in tho price of citric acid. The market is very firm. EASTERN MARKETS Advices from Singapore state that tho market for sago is unchanged and no supplies of tapioca are available. Prices are advancing for all kinds of pineapples and for black and white pepper. DATES New season's dates are expected to arrive on Tuesday, and in tho meantimo stocks are very short. There have been heavy enlc-s "to arrive," and delivery of these orders will be made direct from the wharf. HAMS

A steady demand is being experienced for liams, and it is possible that a shortage will occur. In view of the large number of people expected in Auckland during the visit of the Duke of Gloucester it is anticipated that requirements will be large, as bam is a favourite reserve over holiday periods. WALNUT MEATS Although several small shipments of now season's Manchurian walnut meats have not yet come to hand, a shipment of over 600 cases arrived by tho Aorangi on Monday. It is a fine sample, and as tho market was almost cleared of last season's stocks, there is a strong demand for supplies for the retail trade. No further arrivals are expected until January. Tientsin shippers continue to advise a very firm market for all grades. It is stated that stocks of light amber and amber qualities are bccopvinc short. SALT Prices for most brands of English fine salt have been reduced 12s a ton for prompt shipment. English manufacturers have suffered by the high rate of exchange, 4 and they state that while their price is not. economic, the fierce competition from Australia, which is not penalised by exchange, has forced the English article down to tho present level. A reduction of 4s a ton also is notified for English coarse ealt, used in curing hides.

DRIED FRUITS Prices have been named by the Australian Dried Fruit Association for new season's pack of dried peaches, nectarines and pears. The rales are attractive and compare favourably with those ruling at the opening of the present season. Prices for apricots will be named later, as the surplus for export is not known at present. A new departure in the coming season will be the packing of nil varieties of Australian dried tree fruits in cellophane. Shipments of the new pack will not be available until about the end of February. The Kaimiro is due to-day from Melbourne, via New Plymouth, after having been delayed by bad weather, and will bring the last shipments of currants, sultanas and muscatels. Limited quantities of plain, onecrown and four-crown sultanas, also seeded lexias in packets, were re-offered by the Australian Dried Fruits Control Board and met with a good response from the wholesale trade. TEA The catalogue at this week's Colombo tea auction comprised 2,340,0001b. The duality, with the exception of the offerings from a few up-country estates, was poor. There was a good demand at rather easier rates. Common and medium grades declined id. but good kinds were strong. Exchange was quoted at Is 6 3-1 fid. 90 days' usance. Next week's offering will comprise 2,750.0001b. There will be no auction after December IS until January 8. The demand at Calcutta was good, at slightly easier rates. RUBBER The International Rubber Regulation Committee has fixed the basic quota for the export of rubber for the first quarter of 1935 at 75 per cent of the exports on July 1, when regulation came into effect. The figure for December was 70 per cent. The quota agreed upon represents a compromise between the view of those who held that the statistical position did not warrant a percentage higher than 70, and the view of the manufacturers, who were supported by the Dutch producers, that the percentage should be increased to 80. Anticipation of an agreement caused a sharp rally in the market for rubber, the price in London rising from 6 5-16 d to 65d per lb. This was accompanied by an appreciation in the value of rubber shares. COTTON The use of Indipn cotton in Lancashire mills is increasing, according to Mr. H. C. Short, the Lancashire Indian Cotton Committee's Commissioner for India. Both spinners and exporters of piecegoods were increasingly disposed to try Indian cotton, he said recently. Spinners were generally convinced that good auality yarns could be snnn from purely Indian cotton, and also that Indin-n cottons mixed, well with other growths. It was admitted that the wastage in Indian cotton was somewhat greater than in American, but this was fully counteibalanced by the difference in price. A report- on a new hybrid cotton under test in Fiji was made at a recent meeting of the Empire Cotton Growing Corporation in London. It had been found that it still lacked strength, and it was doubtful if it would find a market at a remunerative price.

PIGS FOR EXPORT

EFFECT OF RESTRICTIONS [from otjr own correspondent] HAMILTON. Thursday The announcement made by the Prime Minister, Mr. Forbes, regarding the export restrictions on pork for the first quarter in the now year, was commented upon by Mr. W. A. Phillips, chairman of directors of the N GW Zealand Co-operative Pig-Marketing Association, Limited. He said that while the quota of 75,000cwt. now fixed for pork to cover shipments from New Zealand during the period from November 15 of this year to the middle of February next, or corresponding arrivals in the United Kingdom from January to March next year, was substantially below the estimated quantities available for the period, in tho absence of definite knowledge as to tho British Government's intentions for the remaining nine months, viz., April to December, 1935, it was impossible to say to what extent the industry would be affected by this development for tho current year. It would, however, appear reasonable to suppose that the British Government, having arrived at tho present quota on the basis of New Zealand's average shipments, including baconors, for the period over the last three years, would, in all probability, adhere to the same method when fixing the allocation for the succeeding nine months, or any extension of that period, and this could not be construed as inimical to the present and future position of the industry. "I have good reason to believe that the proposed quota for baconers will, with an adequate response from producers, provide a means of a compensating adjustment reasonably to offset the probable loss of pork tonnage," said Mr. Phillips. "I thereforo hopo that should this prospect eventuate, dairy farmers will realise the importance of carrying as many of their pigs as possible to over bacoij weights, that is, over 1201b."