POTATO MARKET

Taranaki Daily News, 20 July 1935, Page 7

POTATO MARKET

“VALUES ENTIRELY FICTITIOUS.”

OPINIONS OF SOME MERCHANTS.

By Telegraph—Press Association. Christchurch, Last Night.

Mainly because of a heavy shipment totalling 14,193 sacks taken to the North Island yesterday in the • Waipiata the potato market at Christchurch showed a Slight weakening for the day but this is the first check since the rise set in a fortnight ago. There has been some demand from the north but in the opinion of some merchants not nearly enough to justify the prices which are reported to have been offered farmers and paid to merchants among themselves. The values, they claim, are entirely fictitious, especially aS there are now only two months of the season left. The market is extremely difficult to judge because everybody interested in potatoes has a different idea of values and is able to quote instances of actual sales which range over £1 from the highest to the/lowest sales f.o.b. Dakotas have beeri sold at more than £9 and whites at £8 10s.

It is reported that the Waipiata lifted 1359 sacks from Bluff, 5844 from Timaru and 6900 from Lyttelton, a load that should keep the northern market quiet for some time. Another heavy shipment will be made next week but it is unlikely it will be as heavy as the Waipiata’s which was a record for the season and probably for last season, too.

In the meantime, while the trade is in an almost hysterical condition over the market, farmers continue to hold on to what they have. Only small lots can be nought, because the farmer, having seen potatos rise about £2 in the last two weeks, is afraid to sell now lest they go still higher. Quotations on trucks have varied. One merchant yesterday quoted £5 15s to £6 5s for whites and £7 for Dakotas, while another quoted £6 15s to £7 for whites .and £7 to £7 5s for Dakotas. August-September quotations for whites are up to £B* 10s for whites and £9 10s for Dakotas f.o.b.

The big shipment by the Waipiata' seems to indicate that there will be no shortage of potatoes in the South Island and there is little prospect noW with the Sydney market slipping of a shipment to Australia.

There has been a fair inquiry for oats during the week, Gartons being quoted at 3s 3d. Duns have also been asked for and are worth 3s to 3s 3d. Very little business is passing.

Th 6 chaff business seems at a standstill. The small seeds trade is undergoing the usual midwinter calm and practically no business is being done.