HEMP MARKET.

Manawatu Herald, Volume XXX, Issue 413, 21 July 1908, Page 3

HEMP MARKET.

The High Commissioner cabled at noon yesterday as follows : Hemp market dull, spot, good fair, ,£26 10s ; fair, ,£23 10s; fair current Manila, £22 ; JulySeptember shipments, good fair, £26 ; fair, £2 3 10s.

Better Prospects

A short time ago the New Zealand hemp industry had assumed an unfavourable aspect, and in consequence of a marked slump in the New Zealand market the millers in Otago and Southland, as well as in other parts of the Dominion, found it to their advantage to close down much earlier before the advent of winter than had hitherto been the case. Prospects for the coming season, however, the Otigo Daily Times says, are very much brighter, and throughout Otago and Southland it is the intention of the mill-owners to start operations in August, which is a month ahead ol the usual lime. Current prices allowed such a small magin during the past season as between fair and good.fair grade hemp that it did not pay the millers to turn out a high-grade article, but, as staled above, prospects indicate a general improvement, and it is accordingly likely that millers will turn their attention to manufacturing a better class of fibre, while it is almost assured that there will be an increased output.