SOUTHERN POTATO MARKET FIRMER

Sun (Auckland), Volume 1, Issue 92, 9 July 1927, Page 4

SOUTHERN POTATO MARKET FIRMER

FARMERS FIRM HOLDERS INQUIRY FROM THE NORTH (Special to TUB SUN.) CHRISTCHURCH, Friday. The past week has been a quiet one in the grain and produce business. Although there has been little change in the price of potatoes, late advices from the North Island suggest an improved tone, particularly in Auckland, from which point pessimistic telegrams had been received earlier in the week. Shipments by the next two steamers will probably be fairly light, which should improve the tone of the Auckland market still further. It may be borne in mind that the Wingatui and Kurow cleaned up all June contracts. There is now no anxiety among Christchurch merchants to take delivery of July potatoes, as they have the whole month before them. Merchants are receiving numerous telegrams from Auckland brokers asking for quotations for prompt and July delivery, but as farmers seem to be fairly firm holders, business men are unable to quote any quantity except at advanced prices. For July delivery Christchurch buyers yesterday were offering £ 5 7s f.o.b. s.i., as against £5 5s the day before. There may still be odd lots available at a lower price, but most merchants seem to be holding for higher money. Prompt price to farmers is £ 4 on trucks, equal to merchants’ selling price of £5 5s f.o.b. s.i.. August to September quotations range from £5 17s 6d to £6 2s 6d, according to the feeling of holders. A good deal of business was done by phone late j’esterday afternoon.