AMPLE POTATO STOCKS

Sun (Auckland), Volume II, Issue 495, 26 October 1928, Page 14

AMPLE POTATO STOCKS

TRADE OVER THE WEEK MARKETS STEADY October 2(5, 9 a.m. Trade in grain, seed, and produce circles over the week has been quiet, with onions attracting perhaps the greatest attention. The season for old potatoes as far as Auckland is concerned, is practically over. A fair quantity of old potatoes is held on the spot, but the quality is not ' the best, and the tubers are not meeting with a very free sale. Quite a number are finding an outlet through the marts on a commission basis, and appearances are that more will go into consumption this way before stocks are finally cleaned up. Through store quotations for best quality tables range around 12s (id a cwt, with lower grade tubers selling from about 10s 6d upwards. The market is irregular, with a fairly wide range of prices. New potatoes are coming in slowly, and the market has receded slightly over the week, to see Pukekohe f.o.r. I quotations yesterday at 24s a cwt, and the tubers selling in the marts at 265. ; Indications are, however, that there will not be any great drop in' .price for some weeks yet. Onions Still Short Stocks of onions continue short on the spot, and a considerable amount ■of trading between merchants has been transacted during the past day or so. A small consignment arrived in Wellington this week, and a few' were sold to Northern buyex*s at a price below the Auckland parity, only for the most | part to be bought back when it was i discovered that Wellington’s requirements had not been met. I A few Melbourne onions came on the Auckland market this week, but not in sufficient quantities to affect prices. The Aorangi’s cargo, which was looked to to bring relief and carry the market over until the arrival of Melbourne onions in larger quantities early in December, is now reported to have been cut down to one-third of the original booking. This puts the prospect of cheaper onions further away than ever. At the moment there is a fairly wide variation in merchants’ through-store quotations. Yesterday good American onions were selling in the marts at 35s a case, while some merchants were asking as high as 40s. Certainly at the prices some merchants have paid during the last day or so they cannot make a profit at much under 37s 6d through store. Maize Rather Dull of Sale The position in regard to maize has undergone a slight change during che week, and the wholesale market is rather dull at the moment. One or two rather large , shipments arrived from Gisborne early in the week, the greater proportion of which was sold ex the whai*f. Merchants are mostly fairly well stocked for immediate requirements as a result, although not by any stretch of imagination could it be justifiably said that heavy supplies are held in store in Auckland. This is not the case, as, with the Bay of Plenty feeding all the southern part of the province, Auckland merchants have only been handling stocks sufficient to meet their immediate requirements, waiting till Whakatane sellers are finished before making many forward commitments. Position Appears Sound The position appears quite sound at the moment, as there is a steady if somewhat quiet demand for the grain from poultry feeders. Auckland merchants are not getting any into South Auckland stores just yet, as there still appears to be a fair quantity in small parcels finding its way through from Whakatane. Gisborne merchants appear to have overstepped the mark in their forecast of a sudden rise, but then, again, some brokers from that quarter tend to go to the other extreme, forecasting lower prices, claiming that Auckland stores are full. As far as Auckland merchants are concerned, it seems th&t as long as they are covered for immediate requirements they are not bothering, but are merely waiting to see how things go in the Bay of Plenty, knowing that their turn must come, and, even if it does not, there will be a steady market for the Gisborne grain here over the next six months, with none coming in from overseas to bear ma.rket further. Nominally the market is unchanged at 5s 3d Gisborne. ’ Oats are not causing much concern l on the spot. Ample supplies are held ■ with through-store quotations for B Gartons ranging- around 4s Bd, and 3d dearer. Wheat is selling through store at up to 7s 9d a bushel, against the through-store price for maize of bs 6d. Chaff is meeting with a fairly readysale up to £ 9 5s a ton.