THE FLOUR MARKET.

Timaru Herald, Volume XIIIC, Issue 14216, 4 June 1910, Page 7

THE FLOUR MARKET.

AUSTRALIAN OFFERS. There appears to be every promise of a continued pressure of Australian Hour on the New Zealand market if the present. relative condition of the local and outside markets continues. The "Otago "Daily Times ' says that quotations have been received locally offering to supply flour to New Zealand on the basis of £7 ussier ton free on board at Melbourne. This leaves all freight and I insurance charges to be borne by the I purchaser, and. means that, with the import-duty - of- Hi -pt*i- tonp-an "extra £2 would be added to the cost of the flour as landed here. This would make the cost £0 os per ton, as against even the recently-reduced price of the New Zealand Flourmillers'Association of £9 los per ton. No doubt the special price oi £i us at Melbourne is a ''dumping price, as the association's price there is £S 10s, which, of course, does not apply to shipping to outside parts. It is therefore easily seen thac local millers and farmers will bare some serious competition to face in the near future. The latest cablegram from Home reetrrds the sale of Australian cargoes at down to 30s fid, 30s 7UI, and . 30s 3d, which is a drop of ]"os per quarter during the last three montiis. The peculiar feature of the market, as it concerns New Zealand is that owing to the damage inflicted by the rains "at harvest time there supposed to, be not more than enough good milling wheat ior local requirements. In consequence of this fanners have been securing good prices, ranging from 4s at the opening of the season to 3s 9d for best_ velvet recently. At these prices millers have laid in larger or smaller stocks, and, of course, when the Home market began to recede so (lec/iCtOclly a lew weeks ago both miller.-? and iarmers ceased operations pending an adjustment of the Home level. It ' is therefore seen that with New Zealand wheat high a favourable opeuintr is presented for cheap Australian flom\ and already it is known that over 1000 tons have gone to Auckland, and millers, with stocks of high wheat on their hands, will for a time evidentlv suffer by this comnetition. In regard' to the Australian flour, bakers state that it yields a better loaf than local wheat, owing to the climatic influences proclucing u harder «ui<l stronger yrtiin.