TRADE IN AUCKLAND

New Zealand Herald, Volume LXXII, Issue 21999, 4 January 1935, Page 5

TRADE IN AUCKLAND

SHORTAGE IN SOME LINES-

EFFECT OF FINE WEATHER

FIRM OVERSEAS MARKETS

In the grocery trade the year 1935 has opened with shortages in many lines and firm markets generally. Only a-few cablegrams have so far been received from overseas shippers, and indenting business is not yet fully established for tho year. All advices to date point to rising markets. The strength of this upward movement has nob been revealed.

There is a shortage of canned fruits in Auckland at present, such lines as pears, sliced peaches and pineapples being practically unprocurable. This is duo to the increased sales following the . succession of fine week-ends and to the warm holiday weather. Peoplo have been encouraged out-of-doors, and irtj. addition to canned fruits they have bought freel3 T such "picnic" lines as tinned salmon and sardines and canned meats like sheep-tongues.

At present the distributing trade is more concerned in filling retailers' orders than in looking to their own future requirements. The volume of orders they are expected to fill is considerably higher than last year, and even at this early date in the year overtime work may be necessary. As well as seasonal goods, all general lines of grocery are moving out satisfactorily. There is a good demand for lines such as rice, tapioca, Eago and cornflour. PINEAPPLES , The market for canned pineapples remains very firm, and no change in this position is indicated. The arrival of the Narbada, which is expected in about ten days, will relieve the present shortage in the local market. A rapid absorption of supplies is expected. PEPPER There is a shortage of pepper, and merchants are anxiously awaiting the arrival of the Eastern steamer. Owing to the high prices ruling, purchases have been somewhat limited, and after these supplies are landed interest will qxiickly be taken in the next direct shipment. OLIVE OIL Cabled reports from Marseilles indicate o very firm market for olive oil. Prices have advanced by 3d a gallon during the past few weeks. PRESERVED GINGER Merchants are carefully watching stocks of preserved ginger, as the demand for this line is very heavy during the next few months when jam-making is in progress. The raw ginger market has an upward tendency, and the market for the locally preserved product is firm. .» COFFEE The litest report from Southern India states that the market for coifee has shown little change, and prices are practically the same as the opening rates. Business so far has been speculative, and the future position is 'uncertain. TEA Owing to the holidays, there was no tea auction at Colombo this week, and trade i» quiet. The next auction will be held on Tuesday. * jute . ; A retort from Calcutta, under date* December 1, states that local speculators have continued to buy very large lines of jute manufactures for delivery up to December, 1935. The demand from the consuming markets is improving, but overseas purchases continue to be much smaller than sales to local operators. PRODUCE PRICES RATES AT PUKEKOHE SMALLER ONION YIELDS [FROM OTTfi. owx CORRESPONDENT] PUKEKOHE. Thursday New year business in locally-grown potatoes and onions has opened with prices at pre-holiday quotations. Potatoes are seHing at £5 15s to £6 5$ a ton and onions at £8 15s to £9 55.. These rates are f.o.r. Pukekohe. The demand for potatoes to-day was fairly brisk, a large quantity being ordered to fill shipping requirement*. Crops are now digging light, as the result of the dry weather, but supplies are still free.

The yield of onions this year will probably not now be half that of last year. The acreage is smaller, and with . the dry conditions that have obtained through the late spring and early summer the bulbs have ripened small. Harvesting is now well in hand. It wvdals yields of seven to eight tons an acre, whereas in a normal season 14 to 20 tons is usual. One grower, who last year obtained 22 tons to tho acre, now has this year's crop lifted and finds it is 10 tons an acre. Picklers form a big proportion of the yield. The indications ar.e that, with supplies plentiful just now, prices will ease until February, when hardening may be expected. This will, of course, depend largely on the size of yields in other parts of the Dominion and the prospects of export business.

GOLD AND SILVER QUOTATIONS IN LONDON (Received January 3. 'r.35 p.m.) LONDON, Jan. a Fine gold is quoted to-day at £7 0s 10Jd an ounce, compared with £7 Is on December 3}. .. ■ Silver is quoted at 24fd an ounce spot and 24i{d forward, compared with 24 9-16 d and 24 11-16 d on December 29. The quotation for silver at per fine ouiicG is 26 9-16 d, sahiG &s ycstcrdsy. BLUE STAR LINE LOSS OF £31,714 IN 1933 The accounts of the Blue Star Line, Limited, for the year ended December 31, 1933, show a loss of £31,714, against a profit of £39,294 in the previous year. The amount brought forward was £147,109, and, after providing debenture interest, tho surplus is £115,39 a, No dividend is being paid, the surplus being again carried forward. Tho whole of the capital of£ooo,ooo is held by the. Union Cold Storage Company, Limited, and. debentures at £2,289,900 are guaranteed by the British Government and the Union Cold Storage Company.