TRADE IN PRODUCE

Sun (Auckland), Volume II, Issue 447, 31 August 1928, Page 12

TRADE IN PRODUCE

POTATO STOCKS LOW ONIONS GIVING CONCERN August 31, 9 a.m. A shortage of potatoes on the spot and a decidedly firmer tone in the forward position of onions provided the principal features of interest in grain, seed and produce circles over the week. Following the small shipments of the past fortnight, spot stocks of potatoes have lieen allowed to fall very low. The Auckland through store market has firmed appreciably and steady business lias been done at £9 during' the past two or three days. Sales have mostly been restricted to small parcels, however, and storekeepers for the most part have been content to take just sufficient to carry them over until the arrival of the Wingatui to-day. A considerable amount of business for dispatch on arrival has been done at £8 15s. Ungraded lots coming forward on consignment are offered at lower prices. Future Position Easier Movements over the week indicate a slightly easier tone in the future position. Values in the South have eased, and yesterday afternoon best quality tables were offered at up to 7s 6d a ton below last week’s parity. With every indication of an early crop in the Auckland Province it does not seem that the Southern seller will have much more than six weeks to operate on this market. Merchants here generally hold the opinion that there will be no appreciable advance in the Southern market during the rest of the season. New Potatoes from Norfolk Island During the week a small parcel of new season’s potatoes came to hand from Norfolk Island and immediately found a ready sale in the City Marts at prices showing an appreciable margin over the market for Southern tubers. Small shipments have been received from this Island for a number of years.

In this connection it is interesting to note that there are many who hold the view that there is a large potential market for early potatoes in New Zealand awaiting exploitation bygrowers in the more favoured parts. In addition to Norfolk Island, a certain district north of Whangarei is being held up as having great possibilities for the grower who would send new potatoes forward to catch the market about this time of the year. Only Limited Demand for New Potatoes To a great extent this talk must be discounted. Experience has shown that there is a very limited market for new potatoes at this time of the year. Good old season’s potatoes are generally available in ample quantities in the South for another six weeks and the average householder cannot afford to pay luxury prices for new tubers, especially when the quality of the old is quite satisfactory. At the moment the new potatoes coming to hand from near Auckland growers and even the small Norfolk Island parcel only interest the better class boardinghouse and hotel proprietors, a few finding their way into the households as a special luxury. Any great increase in supply would soon bring about a disappearance of premium prices. Dearer Onions in Sight Merchants’calculations in regard to supplies of onions to carry them over until the arrival of the Pukekohe crop at the end of the year have been upset during the week by the sudden advice of a rise in the American market. Quotations from California have advanced sharply, and sellers there show little inclination to do business even on the new level. Merchants here who had been told f*o hold off, as it was considered that 'ample stocks would be available, are now viewing with considerable concern their prospects of covering November and December requirements at anything like a profitable figure. Supplies of Japanese are still available, and a further substantial shipment is duo on the Ulimaroa next week. More can be secured, as the Sydney, market is reported to be overloaded. The trouble is, however, that already the quality is going off, and the bulbs are not keeping as well as they did earlier in the season.

Viewed from every angle it seems that there is every prospect of prices for onions being high before the New Zealand season opens. Through store, Auckland, Japanese onions are selling up to 17s 9d a crate. The Cereal Market The position in regard to maize is, if anything, a little easier than at this time last week. The bulk of the business is still being done by rail with the Bay of Plenty on a wholesale basis touching bedrock at 5s Id. Small parcels make more money. Gisborne sellers are receiving slightly more attention on a basis for prompt shipment of about 5s 8d on the Auckland Wharf. Forward business has been done up to about 3d in advance of the present market. A slightly firmer tone is noted in the wheat market. There are not so many sellers about. Auckland through store quotations remain practically unaltered, at from 7s 4d to 7s 6d a bushel. The outlook for both oats and chaff is not very bright. Both markets remain dull. 1> bartons sell through store at 4s 7d, with A’s around 3d a bushel dearer. Chaff is quoted at £9 ss. Ample stocks of bran and pollard are available with merchants’ quotations, through store, Auckland, steady around £8 lus for bran and £lO 5s for pollard. Produce Boat Movements The Ulimaroa arrives from Sydney on Tuesday next. The Wingatui arrived from Dunedin and way ports this morning, carrying, among other Southern produce, from 10,000 to 12,000 sacks of potatoes. The Katoa starts loading in the South toward the end of next week and is due here at the end of the following week The vessel is scheduled to lift cargo af Port Craig, Bluff, Wellington and Picton. The Kurow leaves Dunedin to-day and is scheduled to load at Timaru on Monday, thence Lyttelton and Wellington. The vessel is due here at the end of next week. The Kartigi is scheduled to start loading in Dunedin about the middle of next week and, completing at Lyttelton, is due here about September 11. BANK OF AUSTRALASIA INTERIM DIVIDEND OF 7/(Australian and A. 27. Press Association) Reed. Noon. LONDON, Thursday. The Bank of Australasia has declared an interim dividend of 7s a share, tax free.