THE HEMP INDUSTRY.

Manawatu Herald, Volume XXXI, Issue 467, 14 August 1909, Page 3

THE HEMP INDUSTRY.

Since the third week in May a gradual improvement has taken place in hemp, and the position will be readily seen from the following figures, which represent’the London spot quotations as cabled by the High Commissioner: —

May 22, good fair £22 1 5s, fair grade £2llos, Manila £2l 10s; May 29, £23, £2l ios, £23 ; June 5, £23, £2l 105,£22; June 12, £23, £2l 105,£22; June 19, £23 Ss, £22, £22 ios ; June 26, £23 ss, £22, £22 ios ; July 3, £23 ios, £22, £22 ios; July 10, £23 ios, £22 ios, £23 ; July 17, £23 15s, £22 15s, £23 ios; July 24, £24, £23, £24; JuIySL £24155, £23 ios, £24; August 10, £25, £24, £24 lOS. It will be seen from the above that between the extreme dates, both grades of New Zealand fibre have advanced £2 per ton, while fair current Manila has improved to the extent of £2 ios per ton. Good fair grade New Zealand advanced £1 per ton between May 22 and July 17, a matter of eight weeks, and another £l per ton in the following two weeks, and fair grade shows practically the same movement. For the latest week the quotations are nominal. It is difficult to say whether the improvement is due to an improved demand or to shortage in supplies. So far as New Zealand hemp is concerned, supplies have been smaller. Most of the mills closed down for the winter months and those wanting fibre had necessarily to pay slightly higher prices. But there has been no shortage in the supplies of Manila hemp, and in confirmation of this we give the outputs for the dates mentioned above; — May 22 19,000, May 29 25,000, June 5 19,000, June 12 30,000, June 19 28,000, June 26 24,000, July 3 28,000, July 10 25,000, July 17 18,000, July 24 27,000, July 31 20,000, August 7 25,000. Manila hemp has advanced in spite of these large weekly shipments and though it is probable that some part of the advance was a sympathetic movement, still, viewing all the conditions there appears to be some ground for the belief that an increased demand has stimulated the demand. The next few weeks should decide the point, for then most of the mills will have resumed operations, iand greater supplies will be available.