GRAIN AND PRODUCE

New Zealand Herald, Volume LXXIII, Issue 22612, 28 December 1936, Page 5

GRAIN AND PRODUCE

REVIEW OF PAST IYEAR

high quotations rule ACTIONS BY GOVERNMENT In reviewing tlio grain and produce , trade in Auckland for the past year the most striking feature has been the high prices which again ruled, and the various actions by the Government. Severe flooding in Canterbury during February and March destroyed a large proportion of the crops of wheat, oats and cliaif and had a marked effect generally on all grains. With an exceptionally good crop of potatoes from Pukekoho in January, prices slumped sharply to about £5 a ton, on trucks, while the rate of £lo a ton when the crop was first dug was considered to be the lowest level. Values fluctuated until September, when the effect of the export to South America was felt. This was the first time that this market has been exploited, but judging by the shipments which were made it will open up fresh fields for Dominion growers. Developments this year will be watched with the utmost interest. Onions and Wheat Onions were very dull until about two months ago, when values recovered. | This was brought about mainly by ex- [ port inquiry from Australia. In spite j of assurances by the Government that | the restriction of importations of onions ; would be considered, to assist local | growers, large quantities arrived from ; Japan, the United States and Canada. I An interesting development in fowl i wheat was the Government control of | the industry, which was instituted in | February. Following its intention of i importing wheat for gristing, instead I of flour, the Government landed fairly i heavy quantities from Canada for flour-. | milling. A decision was, made to i prohibit the importation of M'heat in ] order to encourage wheat growing in I the Dominion. Permission was later ! granted for the use of bread improvers | which, it was hoped, would displace j Canadian, Australian and United States i flour. Maize, Barley and Pollard I Importations of maize from South I Africa and .Java assisted the local posi- | tion. It appears obvious that with the j present acreage the Dominion cannot | cater for its needs and this is forcibly | pointed out by the present position, as I stocks are very limited. | In March an embargo was placed on the importation of feed barley, from Australia. The object was to afforci s the southern growers a means of disposing of their surplus supplies, as about 200,000 bushels usually absorbed by maltsters was thrown on to the feed market. The embargo was lifted in J line. Supplies of pollard during tlie year have been very irregular. Difficulty has been experienced in securing sufficient quantities from the local mills and from Australia. The market fluctuated fairly widely during the period' under review. Oats opened at reasonable prices, but later firmed considerably, while movements in chaff were similar. IMPROVED PAINT SALES EMPIRE BUSINESS EXPANDS The home trade of Lewis Berger ana Sons, Limited, created a fresh record, according to Lord Greenwood, chairman, at the annual meeting in London last month. The export trade showed a decided improvement. The improvement in home trade had Jjeen in all sections —paint, dry colour, varnish and cellulose. All the subsidiary companies in Australia, New Zealand and South Africa showed improvement, and all their business within the Empire was expanding. The profit for the year was £147,127 —an increase of £5735. The direct profit made by the parent company was £83,468 —an increase of £34oo—while dividends on shares in subsidiary companies amounted to £74.923 and were nearly equal to 11 per cent on the amount at which those shares stood in the company's balance-sheet. The directors proposed a final dividend of 10 per cent on the ordinary shares, making 16 per cent for the year.