TRADE REVIEW

Otago Daily Times, Issue 18850, 1 May 1923, Page 7

TRADE REVIEW

POOR QUALITY OF AUSTRALIAN APPLES.

** THE SUGAR SHORTAGE.

Fhm Asieciation—By Telegraph— Copyright LONDON, April 28. Importers are complaining bitterly of the poor quality of the Tasmanian apples. Many are immature, and have rotted, comparing most unfavourably with the Oregon and Washington apples, considerable quantities of which are still arriving. Some are rather wasty, but good Jots are selling readily at 8s 3d to 13a per case. One Liverpool importer reports that in his opinion Tasmanian shipments commenced much too early, and urges the Government to prevent such _ early shipping in future. _lf the supplies of American apples continue so late in the season many early Tasmanian varieties ought not to be shipped, for obviously while good Americans are available there will be little chance for immature Tasmanians. Hibstones and Alexanders are fetching remunerative prices. Although, the wholesale prices are so unsatisfactory, some shopkeepers are asking exorbitant prices. One large West End store in its weekly price list offers Australian Jonathans by the case at 27s 6d and 28s 6d. Importer's regard this price as outrageous, and some of them are protesting to the managers of the stores. SUGAR SHORTAGE. '

Following a reduction in the estimates of the Cuban sugar crop to 3,670,000 tons, compared with a turnout of 4,102,000 tons last season, there has been wild purchasing of Cuban sugar, .and prices have risen greatly. The advance is ' likely to continue. The supplies during the next few months are expected to be below requirements, and the position is unlikely to oe relieved until late in the autumn, when the European beet crop cornea along. The advance has been serious for many retailers, who refrained from buying some time before the introduction of the Budget, in the hope that the Chancellor of the Exchequer would reduce the duty. The reduction failed to materialise, and, since the Budget ■yas announced the refiners have raised prices by 2s 9d per cwt. The result is that the small rehave been compelled to sell below cost to meet the competition of the multiple shops. Now prices have been raised all round. Loaf sugar is quoted at BAd, and granulated at Jam manufac turers are also likely to advance prices. STOCK MARKET ACTIVE.

The Stock Exchange has reaped the benefit of the satisfactory Budget. Both tho gilt-edged and industrial groups have been active. British funds have improved all round, especially the conversion loan, which shows an advance of 6i since the beginning of the year. The improvement in gilt-edged stock generally may be attributed _ largely to Mr Baldwin’s generous provision for debt redemption, while industrialists have benefited / by the reductions of the income tax and the corporations profit tax. Another contributing factor to the cheerfulness of the stock market is that a more optimistic view is being taken of the European political situation.—A. and N.Z. Cable.