New Zealand Hemp.

Manawatu Herald, 11 February 1902, Page 2

New Zealand Hemp.

Mr H. C, Cameron, New Zealand Produce Commissioner in London, reports as follows to the AgentGeneral under date the 3rd January For some weeks past the market for hemp has been in a somewhat unsettled condition, and so to give quotations for the prices on it has been rather a difficult matter. Prices cannot be said to have actually given way, but owing to the disinclination of buyers to purchase at the high quotations asked by holders, there has been a comparative quietness ruling. A slight redaction in prices

was made by a few holders, evidently as a bait to induce buyers to renew operations, but as this seemingly did N|iot stimulate business to any extent, those making the concessions withdrew them, and now there is a firm tope again ruling in the market. During the past few days the dullness that has prevailed seems to have ended, and there is now an improved demand with prices for “ good fair Wellington ” at £34 spot and February shipment at £32. As it is expected, however, that considerable shipments of “Manila" will he received within the next week or two, the demand is keener for “ distant ” than for “ near" parcels. The tone of the market is healthy and prospoets are I consider, good. Inquiry has been mads at this office concerning the steps to be taken by the Government to have all hemp graded in the colony. Information has been received by some business houses here from their correspondents in New Zealand, that the Government has appointed a grader, but that grading is not compulsory, and also that a Bill was to be brought before Parliament making it essential to obtain a Government grader’s certificate for all shipments. It is considered here that Compulsory grading would be of considerable advantage in carrying through sales of hemp, if proper classification were adopted and the grader appointed could be relied upon to carry out his work thoroughly. Those making inquiry have bean informed, however, that no information has been received officially from Wellington by this office regarding the matter.