New Zealand Hemp.

Manawatu Herald, 5 March 1892, Page 2

New Zealand Hemp.

The New Zealand Loan and Merpantile Agency Company report, 'under date London, 23rd January : — During the past year the importations into London show a falling off from those of the previous twelve months of nearly BUOO tons. The quantity delivered overside and re shipped was on a very" large scale, being estimated at some 4000 tons, while direct shipments to 4 the United States are computed to be 1000 tons less than in 1890. The market has been characterised for the most part by extreme dullness and declining prices. Amongst other causes for depression existing may be mentioned — 1. The enormously increased production of Manila and sisal, together with the low and declining prices of these fibres. The former was quoted in January at £37 per ton c.i.f. for fair current to arrive, and the latter £28 per ton ex quay, Liverpool. Both descriptions continued to recede until November, when the quotations were respectively £26 10s per ton and £21 per ton, the former recover, ing £1 per ton before the close of the year. 2. The reorganisation of the National Cordage Company in America, which inasmuch as it brought about the absorption of the smaller buyers, interfered with free competition on the American Continent, and enabled the Company in question to purchase hemp almost on their own terms. In view of tne serious fall in price of Manila and sisal, it was satisfactory to note that the drop in the value of New" Zealand fibre did not exceed £3 10s per ton the highest price paid for fair medium being £23 per ton in January, the lowest £19 10s in November. The quality of the consignments disposed of on this market exhibits a marked improvement as compared with previous years, and to this cause may, we think, in a great measure, be attributed the comparative steadiness of the market for the New Zealand fibre. Deliveries during the year exceed the receipts by nearly 2000 tons, the position of the market as regards stocks being thus much more satisfactory than at the close of 1890.

Some figures of interest to people engaged in the flax industry in New Zealand are given in Messrs Sharman. Eedfern & Co.'s circular, a copy of which has just been received from London by the Colonial Secretary^. They show that the annual deliveries from the London warehouses during the past seven years were as follows : —1883, 660 tons ; 1880, 566 tons ; 1887,701 tons! 1888, 1959 tons; 1889, 6754 tons ; 1890, 9608 tons ; 1891, 5560 tons. In 1891 the imports from New Zealand were only 4500 tons as against 13,302 tons in the previous year. — Post.