THE HEMP INDUSTRY.

Manawatu Herald, Volume XLII, Issue 2108, 27 March 1920, Page 3

THE HEMP INDUSTRY.

DROP IN FIBRE PRICES. SEASON NEARING ITS END. The (laxmilling industry, in which considerably increased activity has been shown during the last few months as a result of a quickened demand and higher prices for hemp in Britain, is likely to be affected by a recent fall in the market [nice of fibre of about £5 a ton (says the Auckland Herald). The price occurred suddenly, and is attributed by Auckland merchants largely to the inflated American exchange rate. The slackening in values occurred first in the tinted States, and it is considered probable that the British market price droppud in sympathy with the American. A fairly good season has been experienced by tlaxmillers in the Auckland district, many of whom are still working on contracts made during the last two months prior to the fall in the price of fibre. Notwithstanding' the recent tall il is stated that the industry is on a better paying basis than it was six months ago. and millers can carry on operations at a profit. The season is now almost ended, and if had weather sets in and no improvement takes place in the market it is probable a number of the mills will shortly cease operations until next spring.