FINANCE AND COMMERCE

Taranaki Daily News, 16 July 1930, Page 16

FINANCE AND COMMERCE

POTATO MARKET WEAKER

SMALL SEEDS EXTREMELY DULL.

By Telegraph.—Press. Association. Christchurch,Last Night-.

The potato market has weakened and to-day quotations have . eased from 2s 6d to 5s a ton for prompt and forward positions. A few orders are coming to hand, however, from Auckland and other ports are also showing-more activity The next boat, the Waimarino, does not leave until Thursday or Friday. Growers are not inclined to sell; they aie stron" holders. The quotation to farmers on trucks is £4 to £4 2s 6d, but recently there have been offers from certain quarters of £4 5s and £4 10s. There are some who believe there are not as many potatoes’ -available this year as in past years and that there will be .a shortage. ■- The oats market is fairly firm with values unchanged. Local B Gartons aie worth 4s f.o.b. sacks in, and local A Gartons about 4s Id f.o.b. sacks in. Southern quotations are -3s lid for prompt A Gartons and as 91d foi, B s for spread delivery. A's. are worth 3s lid to 4s and B’s 3s 10d. ■ The chaff market is steady with few orders coming to hand. It has been sold for prompt delivery at £6 17s 6d to £7 a ton f.o.b. sacks in, which is equivalent to £5 7s Gd to £5 10s a ton on trucks. Chaff for latei delivery is not offering in. much quantity, 'blit there is not a great deal of inquiry

for it. The market for onions is very dull. They are worth from £2 10s to £3 10s on trucks according to quality. It is many years since business in small seeds has been as dull as it is at present. The volume of business has fallen off and orders have decreased by a big percentage. DAIRY PRODUCE TRADE. RECORD EXPORTS TO CANADA. Exports of dairy produce from the Dominion for the eleven months of the current season ended June 30 totalled 166,619 tons as against 152,023 tons for the corresponding period of last season an increase of approximately 14,000 tons. Of the increase, butter accounted for 13,188 tons, the shipments totalling" 88,509 tons as against 75,321 tons. Cheese showed an increase of only 808 tons, shipments being <B,ll'o tons, compared with 77.302 tons. . Exports of butter last month were more than double those in June, 1929, being 6353 tons as against 2871 tons, an increase of 3482 tons. Much of the increase was accounted for by a shipment of 2656 tons to Halifax, whiltj the shipments to the United Kingdom were 3284 tons as 'against 2695 tons in June, 1929. Of the butter shipped last month to/’ie United Kingdom the position at time of shipment was that 78 per cent, was consigned, and 22 per cent, sold, f.o.b. Exports of cheese last .month were 5702. tons, or three tons less than Li June, 1929. Of the cheese shipped last month to the United Kingdom the position at time of shipment was that 72 per cent, was consigned and 28 per cent, sold f.o.b. (71 per'cent, was, white and 29 per cent, coloured),. For the season to June 30, i 960, 6S'per cent, was white and 32 per' cent, coloured. . The following tables show the exports and destinations of the-Vdairy produce shipped for- the eleven' months of the 192'9-30 and 1928-29 seasons:—

The butler table shows clearly the value of the Canadian market to New Zealand. It will be seen that the ship? ments to Vancouver and Halifax this season total 23,068 tons ,as against 11,984 tons for the eleven,months of last season, an increase of nearly 100 per cent. While Vancouver;! took 484 tons more this season than: last, shipments to Eastern Canada via Halifax were 10,600 tons greater —18,255 tons as against 7655 tons. Shipments of butter to Britain this season have been 63,954 tons, as against 61,73!) tons last season, an increase of 2215 tons. In view of the depressed state of the English market this year, it will be seen what a tiemendous relief has been afforded by

Canada taking over 11,000 tons more but- : ter from the Dominion this season than last year. The cheese figures call for no comment other than that Great Britain is practically New Zealand’s only customer for this commodity. ENGLISH MARKETS. HIGH COMMISSIONER’S REPORT. Th- Department of Agriculture has received the following cablegram, dated

July 12,' from the High Commissioner for New Zealand, London:— Tallow.—Fair demand at auction tins v-eek Nine hundred and thirty packages were offered and 630 sold. Present quotations are:-Beef: Sweet and/or mixed 27s Gd to 355; fair to good, 24s 6d to •'’7s Gd. Mixed: Fair to good, 24s to 2iS, dark to dull, 23s to 23s Gd. Others unchanged. Forward shipments quiet. Fruit.-Markct slow, soft fruit, me abundant and heavy of manian apples are realising lon puces. For New Zealand apples present .quota tions are:—Stunners, Gs to 10s per case; Doujherty, 8s Gd to Us Others about unchanged. The lower figures iefu large fruit, which is difficult to s<* u - Hemp—Manila market advanced eai y this week, but easier since. Closing value, for K grade July-September shipment £23, J grade £24. K grade is now the standard grade here and 'Will be quo e iU sSI: Market quiet. Fair average qiuibity, July/September shipment sold £-1 lj New Zealand: Market dull and nominal values 0U 1 b renortHighfair, £24. No sale, repoit e< \v oo l —Sales continue well attended, with opening rates mamtained.

WOOL SALES IN LONDON. . London, July HAt the wool sales 9260 bales ''' cre ottered, including 110-L from New uealaud About 8060 were sold. There was a large selection of super good style spinners’ sorts of «wta met with brisk support. _ Other so ts were in small supply. Prices m ? ' changed.- Yorkshire bought noLhr a - Bradford prices are unchanged bu J J-hc trade depression is !U ’ ntol ' * OMATA DRILLING REPORT. Coal Oil (N.Z.)7 WL. reports for the week ended July 12 tnat the well at Omata was drilled to 1563 feet in mudstone with concretionary layers of cal carious sandstone. The well was cored 20 feet to 1513 feet.

BUTTER. l/S/29 1/8/28. to to 30/6/30. 2-0/6/29. Tons. Tons. London . 58,711 58,10!) ' West Coast, U.K . . 5,243 3,630 Vancouver ....... . 4,513 .4,329 Halifax . ] 8,255 7,655 Honolulu ’ . ' 477 499 Other countries .. 741 763 Panama 266 168 . Xe.v York • — 163 88,501) 75,321 CH ELSE. London . 68,651 65,220 West Coast, U.K. . 9,215 11,456 Australia . 15 6 Vancouver 146 126 Other countries .. 83 26 New York. — 468 ■ 78,110 77,302