POTATO PRICES.

Manawatu Standard, Volume LVII, Issue 224, 21 August 1937, Page 16

POTATO PRICES.

STABILITY PROPHESIED. . Per Press Association WELLINGTON, Aug. 19. The position of the potato, market according to a representative of a big business firm here is likely to become more stable in the near iuture owing to the cessation of exports to South America. The firm received an order for 1000 tons of seed potatoes and had been informed that no more shipping was available. It is believed here that South Island growers have been holding supplies because prices have been increasing in South America and those supplies are now expected to cotnc on to the market. At noon to-day the market had eased. He stated that approximately 21,000 tons will have been exported to South America. The reason for the higher prices recently', he Raid, was that the cold wet weather had delayed the Pukokohe supplies and the holding of supplies in the South Island had affected the position. He also gave figures of shipments to the North Island which show for June and July a decrease of 27,000 bags against June and July of last year. His view was that the North Island crops had been better. Auckland, however, has taken over 5000 bags more from the South Island than in June and July a year ago.

SUDDEN DOWNWARD TREND. Per Press Association. CHRISTCHURCH, Aug. 20 The potato market has taken a decided turn downward and prices have slipped a. full £1 a ton since the beginning of the week. The main reason seems to be that prices became too high for the North Island and buying from that quarter ceased. There is also the fact that, with only one more .South American ship to go, it has been found there are more potatoes in hand than was expected. There are still ia.ii supplies left in the country, and farmers have been busily offering their holdings but without success. The market is very weak with no buying from any source. It will probably be some days l>efore the market settles down again. Quotations at £8 to £8 10s on tiucks are purely nominal. Oats are inclined to be wea.ker because of imports of Australian. Chaft is very slow at £3 17s 6d to £4. Small seeds are not yet meeting any sustaincd demand for’spring sowing, but there ore move signs of life in the market than there were a month ago.