THE HEMP MARKET.

Manawatu Herald, Volume XLV, Issue 2534, 25 January 1923, Page 2

THE HEMP MARKET.

HIGH COMMISSIONER’S CABLE. The Hgh Commissioners cable, dated the 20th inst. reads: “Hemp, Manila market firm but quiet before (lie close. ‘.V January-March shipments and February-April shipments sold £34 15s, ‘G’ January-March shipments quoted £37. Output last year was 1,274,512 bales as against 754,000 for the previous year. Stocks in Manila. 31st December were 155,495 bales as against 248,000. New Zealand market quiet witli small business reported; fair in dock £3l. Sellers quote good fair £34 10s, high points £33 10s.; January-March shipments 31st December, were 179 tons again- ■ st 504 previous year.” A HARDENING MARKET. “At the present time‘” said Mr R. T. Bell, “prices for hemp are only moderate, hut lately there has been a hardening tendency on the market, aiul millers are looking forward to slightly better prices in the near future. Other world’s fibres are in keen competition with us, and the Dominion millers are finding it necessary to produce a hemp of the best quality possible. They are, however, very much handicapped in Ibis direction through the quality of the raw material being somewhat damaged by the yellow leaf disease. Owing to this the output of hemp from the Dominion has decreased very considerably, and in some distriets the industry has disappeared altogether. This is most unfortunate, as flaxmilling has employed a very considerable amount of labour in the past and the return to the State in revenue from the industry was also considerable. Many of the millers who have been in the business most of their lives are making a strenuous effort to combat the • yellow leaf disease, and again bring the industry hack to its former flourishing state.”