THE DULLNESS IN HEMP.

Manawatu Herald, Volume XXXII, Issue 807, 3 February 1910, Page 3

THE DULLNESS IN HEMP.

VFRY WKAK DEMAND

Very little new business is being done locally in hemp at present, says the Dominion, and most of the shipments now going forward are in execution of October and November contracts. A small amount of speculative shipping, is however, being done. The British market became decidedly quiet with the approach ox the holiday season in December, and has remained so up to date, business being practically at a standstill. The continued inactivity is alleged to be due to the disturbance of business consequent on the general election now taking place at Home, but there is a feeling locally that it is largely the result of a speculative move on the other side to force down prices. Holders, however, are firm at present. The Australian market has naturally been adversely affected by the extra 25 per ceut. charged by the Union Company on Australian freights during the continuance of the coal strike. Manila hemp has been going into the Commonwealth steadily all the time for binder twine, and the harvest, unfortunately, promises to be completely over before the freight charges from New Zealand return to the normal, and the handicap is taken oil local producers. A Wellington house largely interested in the hemp trade estimates that the total production of the Dominion for the twelve mouths ending June 30 next will run at between 20,000 and 23,000 tons. The exports to the United Kingdom, to the United States Atlantic and Pacific Coasts, and to Canada —practically the whole of the export trade, excluding what goes to Australia —-are estimated by the same authority to be likely to amount to 15,000 or 16.000 tons for the year ending December 31 next. The figures for the last two calendar years were —1909, 10,000 tons ; 1908, 15.000 tons.