THE HEMP INDUSTRY.
IS THE AGENT GENERAD’S / REPORT ACCURATE ? On looking over the High Commissioner’s weekly reports on the state of the hemp market in Eondon we find that for the past eight weeks the price of good fair has been the same, viz,, ,£24 xos per ton, which would certainly give one the impression that the London market price has been stationary for that period. We are given to understand, however, that such is not the case. We have it on good authority that during the past two months the prices in London have fluctuated considerably and at the present time the quotations are 35s per ton less than they were on September 13th. The difference in the London quotations and the prices paid f.o.b. Wellington is roughly £3 per ton and such being the case, if the High Commissioner’s last report is correct, millers should now be getting about £2l los per ton for good fair f.0.b., Wellington. We have information to the effect that the price for good fair at present offered by flax buyers is only ,£2O 2s 6d per lon, which is equal to say £23 2s 6d per ton, Loudon, £1 7s fid less than quoted bythe High Commissioner. A fortnight ago New Zealand buyers were offering ,£2l T2.sfid per ton, but this week the price ruling is only £2O 2s fid and as the New Zealand firms base their prices almost entirely on the London market, either their information or that supplied by the High Commissioner is incorrect. The majority of the millers in this and the surrounding district obtain, their supplies of green leaf at per ton and the royalty so paid is based on the London market prices as quoted by the High Commissioner. The London quotation for good fair received the first Monday in each mouth is the price on which the royalty is based for the whole mouth, so that it will mean millers will have to pay royalty during November on the High Commissioner’s last quotation which is paid when lm.ap i.s quoted at this price Is about eight shillings per ton on the green leaf. Had the High Commissioner’s report this week been, say ,£23, which apparently would have been nearer the mark, the royalty on the green leaf would have been about five shillings. The quantity of green leaf pul through weekly by one mill is generally between 50 and 60 tons so that it will be seen Vnat if the High Commissioner’s report is above the mark what a serious loss it is to the millers. If the London price this week was only ,£23 it means that each miller will have to pay about ,£l6O more during tne present month than they really should have been called upon to pay. In the present state of the industry and in view of the fact that royalties are based on High Commissioner’s report, it is absolutely essential that information as regards the Loudon market should be strictly accurate, and we would ask the member for the district, Mr Edward Newman, to ascertain if the High Commissioner is getting absolutely the best information possible. Further, would it not be possible to have more information forwarded each week than is at present the case. The cables received at present arc very briel and the only information given is the bare quotations and a few woids such as “ market quiet,” ” market steady,” or something similar. What is required is full and authentic information. We urge the importance ot this matter upon Mr Newman, whom, we feel sure, will bring the matter under the notice of the Premier. MR MABIN’S INVESTIGATIONS. Mr A. E. Mabin, well known in hemp circles, has returned from an enjoyable trip abroad, full ot information ou the hemp positi»u in the Northern Hemisphere. He went abroad for pleasure, but he evidently found as much euyoymeut in gathering information concerning hemp and wool as he did in sight-seeing. The main fact brought home to , .Mr Mabin was that the price of y New Zealand hemp was too dear in comparison with other fibres, with the result that manufacturers are using less ot it every year. Everywhere he was told that New Zealand would have to reduce its price or it could not hold the trade. When iu America Mr Mabin met a Mexican merchant, who declared that sisal producers were going through a rough lime, as they could not produce sisal at. present prices. j In Australia, as in Britain, said Mr Mabin, the market was iu danger of being lost to New Zealand, as recently consignments of Manila twine made abroad were coming into the country. The general impression at Home, r Mr Mabin* found, was that we would continue to see low prices. Everything depended on the rale ot production in Manila, and this showed no sign ot tailing off. Mr Mabin speaks well of the way in which New Zealand hemp is handled by the shipping companies in London. The companies spoke highly oi the system of marking introduced by the Department of Agriculture some years ago. The grading of hemp was also well spoken of by all interested in the trade.
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Manawatu Herald, Volume XXXII, Issue 916, 10 November 1910, Page 3
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869THE HEMP INDUSTRY. Manawatu Herald, Volume XXXII, Issue 916, 10 November 1910, Page 3
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