JUMP IN POTATO PRICES

Taranaki Daily News, 10 July 1929, Page 9

JUMP IN POTATO PRICES

CHRISTCHURCH MARKET ACTIVE. By Telegraph.—Press Association. Christchurch, Last Night. The potato market has jumped since the week-end. Reports then showed that £5 15s a ton was being paid for “prompt” potatoes, an improvement of 7s 6d on the week before. To-day prompt delivery was sold at £G 2 s 6d to £G ss, approximately an advance of 15s a ton in the space of a week. July delivery is now quoted at £G 12s Gd to £6 15s. Some sales have taken place at this price for July-September, but there is a general stand-off policy. In regard to later months all deliveries have advanced in price by 15s to 20s a ton during the week. The main factor is the increased volume of inquiries from Auckland. Forward operations and consignments have kept the marxet supplied there without any need for merchants to concern themselves, but apparently this source of supply has ceased and the northerners are compelled to come on the market with something of a rush. This afternoon £5 5s was being offered for whites on trucks. This price being exceeded in the ease of nearby stations. The Waipiata took 3800 sacks from Lyttelton on Saturday in addition to 3700 from Timaru. The Wingatui is due to leave on Monday.

A factor in the confident position the grower nas taxen up is that in some districts blighted potatoes are heavy and a fair amount of rejection has taken place. The market Is dull both for milling and fowl wheat and the big return re° corded is not likely to improve matters. The gross yield according to the interim returns is 8,818,000 bushels. From 5s 8d to 5s 9d a bushel on trucks is quoted for milling and as 7d to 5s 7%d f.o.b. for fowl wheat.