TRADE REVIEW

Otago Witness, Issue 3594, 30 January 1923, Page 16

TRADE REVIEW

APPLE MARKET OVER SUPPLIED. LONDON, January 20. The prospects for the Australian and New Zealand aople trade anpear to be far from favourable. The market is now receiving larger quantities of Nova Scotian and American anples, which are selling at cheap rates. Oregon Newtowns are making only 10s tie r case. The supplies of these apples are expected to continue till April; consequently traders here are disinclined to adva-iice anything like the amount* that shippers ask on Australian and New Zealand apples. It is understood that the. general opinion is tbSt advances should not exceed 2s 6d per case in addition to freight. Traders have large sums outstanding for credits in Egypt on onions, and in America on apples, and there is considerable difficulty in establishing credits for Australia owing to the exchange. Very little progress ha« been made in chartering tonnage for Australian wheat, although the rates continue to decline. A few steamers have heen fixed from W estern Australia at 435. The charterers are now inviting offers at 40s for February loading. The sailing ship rate from South Australia for March has been fixed at 38s 9d. The freight market generally is very dull, and tonnage everywhere seems to bo in superabundance. Little homeward business from the Argentine and the United States is offering, so it is appears probable that plenty of tonnage will be available for the Australian and Eastern markets.