TRADE OF THE WEEK

New Zealand Herald, Volume LXXII, Issue 22243, 18 October 1935, Page 7

TRADE OF THE WEEK

GOOD BUSINESS REPORTED OVERSEAS MARKETS FIRM EFFECTS OF TIN PRICES Particularly heavy business for this time of the month is reported by sale houses, and merchants seem unable to supply any definite reason. The volume of business cannot be altogether attributed to retailers desiring to lay in stocks in view of possible price rises, for most are asking for immediate delivery. If accumulation and not replacement of stocks were their object, orders could be placed now at current prices, but delivery and payment postponed until next month's accounts are opened next week. As many of the orders are coming from the country it is probable that the high prices being realised for butter are having a stimulating effect on business. Deliveries on November account will bo commenced to the country on Monday and Tuesday, and to the city on Thursday. Orders for the Dioinede, which has been ordered abroad on special service, were welcomed by city merchants yesterday, and a fair amount of business was done in dried and canned goods. Overseas markets generally remain very firm, although sago and tapioca, which rose very sharply last week, have weakened to some extent. The price of tin, which is the highest for seven years, is bound to be reflected in tinplate. This will affect all canned goods, and these are considered good buying at present rates. The increase will be most noticeable in those lines in which the cost of the container is high in relation to the value of the contents, such as sardines, pineapples, salmon and asparagus. TURPENTINE The market for pine tree turpentine is firm and advancing, while resin also is very firm. ALMONDS An advance of £8 a ton has occurred in the price of Valencia almonds. Cabled advices state that the market is firm, with further increases possible. Cablegrams from London advise an increase of £5 a ton in values for ground almonds. < KAPOK The kapok market in Java is very firm, according to recent cablegrams. This commodity is now subject to Government control and it is expected that the controlling body will be able to keep prices at their present level, and later to work toward lifting export values. CHERRIES As most of the supplies for crystallised and drained cherries processed in England and New Zealand come from Italy, keen interest has been shown in forward deliveries. Without a guarantee of supplies arriving, sellers are reluctant to operate forward and crystallised and drained cherries are showing a much stronger tendency. NUTS

Supplies of new season's nuts are expected shortly and will go into immediate consumption for the Christmas trade. No shortage is anticipated, but with the disturbed state of the Mediterranean areas it is difficult to forsee to what extent deliveries will be affected. Prises for all types of nuts are firm and advancing. TEA The catalogue at this week's Colombo Tea auction comprised 1,650,0001b. There was an active demand at dearer rates for all grades except high-grown teas, which fell off in quality. Common and medium sorts advanced Jd per lb., but pood kinds dropped id. Next week's auction will comprise 1,750,0001b. At the Calcutta auction common and medium kinds advanced !d, and good sorts were firm, CREAM OP TARTAR The price of both English and Australian cream of tartar has been increased by £4 a ton. EASTERN MARKETS Following the sharp advances last week, values nre easier for sago and tapioca. Pennng seed and medium pearl tapioca dropped by Is 7jd per cwt., while Singapore sago is 9d per cwt. cheaper. Pineapples are still firmer. Pepper eased slightly, while nutmeg, after finning at the beginning of the week, has since eased slightly. Certain buying of eastern goods for shipment by the November-December direct Bteamer has been done, but most orders have yet to be placed. ,