Flax.

Manawatu Herald, 28 April 1903, Page 2

Flax.

We are in receipt of the Manila broker’s report of the 28th of February last, through the courtesy o*f the Agricultural Department, find comparing it with last year’s report wa find that the output of Manila has increased, probably from the enhanced valne of the fibre lately

ruling. It is difficult to forecast the future, but there are items in this report which point favourably for the future. We find that the stocks of Manila fibre on hand on the 28th February numbered 100,729 bales after the income and outgoings for, the two months have been added and deducted. However large this stock may seem it amounts to only 81,994 bales more than at a similar date in 1902.

This statement might lead millers to the supposition that' possibly the increase was- getting ahead of the demand, but the facts point in a contravy direction as up to 15th March, 1902, the total export from Manila totalled 174,729 bales* or over 14,549 bales less than the. export for the same period in 1901, bui up to the 28th February this year the total exports reached to 179,841 bales, which were thus 4,612 bales more than was exported in a longer period last year. This points to the demand not falling off, and the broker’s report that “ more demand, for prompt parcels, but sellers are holding for prices rather above ideas of buyers,” support it. They quote the price at £B2 18s lOd.

One feature of the report is worth keeping in mind, being tbs increased purchases on the part of Great Britain and the United States. From Ist January to the 28th February Britain only purchased in 1902, 70,451 bales, whilst this year she purchased 80,249 bales; but the United States and Canada last year, within these dates, only bought 5i,266 bales, whilst the two months of the present year they bought 91,098 bales. Great Britain taking most of the N.ft. fibre did not increase her much, but the United States and Canada almost doubled theirs.

Taking into consideration that the excess of production in Manila is only 81,994 bales and the American demand has almost doubled, the outlook for the Phormium Tenax appears as cheerful as ever.