THE BREADSTUFFS AND PRODUCE MARKETS.

Otago Witness, Issue 3196, 16 June 1915, Page 20

THE BREADSTUFFS AND PRODUCE MARKETS.

Friday evening. The latest London cablegrams state that the wheat market is less depressed, but prices show no change. Cabled statistics as to the quantities of wheat and flour afloat for the United Kingdom and tho rest of Europe have lost a considerable amount of their interest (says the Argus) since it is known that the British operators control so largo a proportion of the visible supplies of wheat in tho exporting countries of tho world today. There is little exportable wheat in tho United States or Canada which has not yet been purchased by private Euro- : pcan importers, while the British Government commands tho surplus of Argentine j and Indian crops. The fact, therefore, that ; Ax’.gentina is shipping more or less per week, I or that Indian exports tend to increase, loses its significance when it is known that the shipments are being merely regulated to suit the requirements of the buj-ers. The vagtness of the trado being done in the United States with tno warring nations of Europe has led to some remarkable changes in tho character of tho exports of that country, and authorities in New York arc not at all pleased -with the marked increase which is shown in other classes of merchandise. A leading- article in the Now York Journal of Commerce refers to the changes as being surprising, and not altogether satisfactory, notwith-

standing the rosy statements emanating from Washington. The failing-off in exports pertaining to peaceful pursuits include the following items, spread over the eight months ended February 23Agricultural implements, 16, 21)U, OOOdol; copper and manufactures thereof, Sj^CKkULiOdol; cotton 240,OUG,OOOdol; machinery, 24,300,OOOdol; iron and steel, 50,300,00dol; mineral oils, 14,800, OOOdol; tobacco, 10,300,000d'ol; wood and manufactures therefore, 35,3Q0,000d01. On the other side, there are .to be found enormous increases in a selected list of •articles, required directly or indirectly abroad, as a result of the. war. Breadstuffs, including all cereals, have expanded by 246,409,503d0i; explosives by 8,227,236d01; firearms, 4,027,011dol; harness and saddles, canned ' beef, 6,787,556d01; condensed milk, 1,145,835d01; refined sugar, 18,342,150d01; wool manufactures, 14,d/0,922d01; horses, 30,/89,643d01; automobile trucks, 13,214,202d01; and men’s boots and shoes, 1,425,084d01. The exports, in the aggregate, show a falling-off of 74,000,000d01, and imports have declined by no Jess than 160,C00,000d01. The total trade of the United States with other countries is actually less by 221,000,000d0l in the eight months than it was during the corresponding period of the previous fiscal year.

The wheat market is keeping fairly steady at the advance recorded last week, with very little offering. Most of the thrashing mills have pulled in for the winter, owing to the soft nature of the ground in the south. Prime velvet is still hard to procure, and is saleable at 6s 1-jkl on trucks at country sidings. Red lines and Tuscans aro worth about 3d to 4d a bushel less, but there is very little business passing, as millers are not anxious to speculate nor farmers to sell. The tariff of tho New Zealand Flour and Produce Agency Company is as follows: Sacks, £l7 10s; 1001 b bags, £18; 501 b bags, £l3 ss; 251 b bags, £lB 10s. Pollard, £9. Bran, £8 ss. Oatmeal is quoted at £2l a ton for 25’a. Pearl barley, £2l 10s. The market for oats is quiet, and prices have eased to the extent of perhaps or Id per bushel. The general feeling is that this decline is only temporary, as there are very few lots offering from tho country, and farmers are firm holders. The North Island merchants have not bought ahead to any extent, and will bo regular buyers from now on. The recent big military orders have kept stocks down to pretty low compass. If the _ Government continues to place these military orders throughout tho season it must have a firming effect on prices. The coastal demand at present is on the quiet side. A Gartens aro worth to-day 4s 6d f.0.b., s.i., and B Garton Id less. PRODUCE REPORT. Prime oaten sheaf chaff is in good demand, and the price has advanced. The demand from Auckland accounts for the Thero is also strong inquiry from Auckland for potatoes, and tho local market shows an advance of from 10s to 15s a ton. Oaten straw remains at £3 10s a ton, which is an advance of £1 on the rates ruling a year ago. Present quotations are not likely to decline. Eggs ere somewhat easier this week, but will probably firm shortly.

There is good inquiry for dairy butter. Current wholesale prices arc as follow: Chaff.—Prime oaten sheaf, £6 17s 6d to £7; medium to good, £5 10- to £6 (sacks extra). Potatoes. —Prime Oamarus, £6 (bags in); Taieri-grown. £6; medium to good. £4 10s to £5. Hay, £5 10s. Straw. —Oat* ti, £3 10s; wheaton. £2 10s to £2 15s. Eggs.—Fresh, Is 6d to Is 7d ; preserved. Is 4d.

Butter.—Dairy, Is 4d per lb; milled, to Is 4d per lb; separator, in 11b packets, to Is 4d.

Pigs.—Baconers, sg d per lb: porkers, s£d per lb. Bacon.—Rolls (in quantities), lOf>d! sides, lOd; hams, lOd per lb; boneless hams, lOid per lb. FRUIT REPORT.

The fruit market has been rather quiet since Show Week. Supplies of apples and pears have fallen off considerably, the consequence being that prices have firmed greatly, but the demand is not at all brisik. A small shipment of oranges was landed on Thursday from Rarotonga, comprising about 1000 cases. The whole of those were readily placed on arrival, sales being made at 7s 6d per case on the wharf, and at from 8s to 9s in store. As the market is not well sqpplied, prices are likely to firm next week.

Bananas are in very .short supply, only about 60 oases landing this week. A further consignment is expected from Suva on Monday next, and prices will probably rule high. Mandarins, pine-apples, and passion fruit are now landing by each Sydney boat, and meet with fairly good demand. The following are the current wholesale prices;— Apples are in only fair supply. Desserts, 5s 6d to 8s 6d per case, the latter price for Jonathan; specially choice, up to 3d per lb; cookers, 5s to 7s per bushel, the latter price being for Lord Wolseleys; Greenings, choice, 2d per lb. Other sorts range from 3s to 4s.

Lemons.- —In case of 165 fruits; Italian, 16s.

Oranges.—Rarotbngan repacks, 8s to 9s. Tomatoes.—Local hothouse, 9d to 10|d; Canterburys—outside, rough, Id to l£d; medium and choice, 2d to 3d, just about finished.

Cucumbers. —Local hothouse, 2s to 5s per dozen (small). Mandarins, 8s to 10s 9d per gin. Passions, 5s to 7s fid. Pineapples, 9s to 11s. Pie Melons. —Market bare; 7s to 9s per owt.

Grapes.—Local hothouse, up to 2s 3d per lb; others, 8d to Is 6d. Vegetables have better sale. Cabbage, 6d to 2s per dozen; sacks, Is to 2s 6d. Lettuce, 4d to 6d per dozen. Cauliflowers, Is 6d to 7s 6d per dozen; sacks, to 7s fid. Table carrots, 4d to fid per dozen bunches; 2s fid to 3s 9d per cental. Green peas, 2d to 3d pe: lb; good demand. Brussels sprouts, Is to Is fid per box. Celery, 4d to fid per bundle. Winter rhubarb, 2s to 3s fid per dozen bunches. MERCHANDISE MARKET. Oatmeai is very difficult to procure from millers owing to the shortage of oats. A further advance was recorded during the week in sago and tapioca, the former now costing 21s and the latter 22s per cwt. Owing to the shortage of wax the local manufacturers are unable to supply paraffin candles, unless in small quantities. Latest advices from Franco are to the effect that brandy is very difficult to obtain, and prices have increased considerably in consequence. A number of the distilleries have been taken over by the French Government, which has been unable to procure crude alcohol for the manufacture of explosives, and the products of these distilleries which have been ■ taken over are now being used for the purpose. The new season’s salmon promises to be very dear. The position remains unchanged with regard to sugar. The quantities reaching Dunedin are altogether inadequate to meet the demand, even in a normal time, and no relief can bo expected from the present position until the end of this month at the earliest.

Cream of tartar has been bounding up in Erice. The laid-down cost to-day would e in the vicinity of 2s per lb. The Vacuum Oil Company advises that its shipment of oil to arrive per steamship Asama Maru has been disposed of. A cablegram was received on Thursday by merchants and the press, indicating that the British Government had taken possession of large quantities of spelter. The immediate response to this was a sharp rise in the price of all galvanised material in English markets, owing to the fact that spelter is a most necessary article in the manufacture of these lines. Local stocks have advanced to correspond with the Home prices.' Galvanised corrugated iron is now being quoted at £34- per ton for small quantities only, and galvanised piping at 30 per cent, off list rates. Galvanised nails, spikes, staples, and galvanised manufactured goods of every description are rapidly advancing in price.

With the exception of these sharp rises in galvanised ware the markets remain steady.