POTATOES CAUSE CONCERN

Sun (Auckland), Volume II, Issue 465, 21 September 1928, Page 12

POTATOES CAUSE CONCERN

MARKET ADVANCING DOMINATED BY ONE SELLER The position in regard to both onions and potatoes is causing merchants some concern at the moment. Both markets are very firm. Fairly heavy supplies of potatoes are held in Auckland, but the position is unchanged from last week, with the tubers practically all held by the one seller, and merchants are compelled to meet his price or go without. The decidedly firmer tendency in the South has also operated against the Auckland buyers, and the few parcels coming forward on an f.o.b. basis also show an advance. It is anticipated that potatoes will be dear over the next few weeks, and through- store quotations can be expected up to £9 10s or even £9 15s toward the end of next week. The new season’s crop is coming away well, but it is not expected that it will have any appreciabte effect on the market for the next three or four weeks. Onion Stocks Short Merchants are still experiencing difficulty in covering their near future requirements of onions. The Wairuna early in the week brought approximately 2,000 crates and 1,700 bags from California, but these went into immediate consumption. many parcels changing hands ex the wharf at prices considerably in advance of the original purchase price. Stocks on the spot are extremely short, and little relief can be expected until the arrival of the Niagara and the Hauraki, from the Pacific Slopes, about October 8.

Through store quotations hold at the moment at 25s a bag, and 27s 6d a crate, but firmer prices can be expected in the near future. The season lor Japanese is finished. A further rise took place in the ’Frisco market over the week, quotations being received as high as 114 dollars, compared with 63 dollars when the season opened. Maize Still Available at 5s Id. Maize is not causing much excitement at the moment. Parcels for immediate delivery are still available in the Bay of Plenty at 5s Id, but a rather encouraging factor from the holder's point of view is the fact that forward sellers, for October have ben endeavouring to buy in at that figure over the week. Indications are that there are still fair quantities available in the Bay district, but for the most part the parcels are more strongly held. The wheat market is firm and spot quotations are unchanged at up to 7s 6d a bushel through store. The shortage of chaff noted last week was relieved by the arrival of a Blenheim shipment. There is only a very nominal demand for the product: througn store quotations are unchanged at £9 5s a ton. ._ Oats are also dull of sale with B Gartons selling in Auckland around 4s 7d a bushel and A’s 3d dearer. Produce Boat Movements The Niagara from the Pacific Slopes is due on October 8. The Hauraki from the same parts is due in Auckland on October 7. The Jvato left Auckland last evening for the South to load cargo for the North again. The vessel is due back here again in about a fortnight’s time. The Wingatui from Southern ports is due here over the week-end. The Waipiata from the South is due here about Friday next. The Kaitangata from South Australian ports is due here on Monday.

LONDON DAIRY VALUES - BUTTER MARKET SLOW (Australian and N.Z. Press Association) Reed. noon. LONDON, Thursday. The butter market is slow. Danish butter is easier at 195?. New Zealand and Australian are unchanged. Cheese is firm. New Zealand, finest, 112 s to 114 s; Australian, 110 s to 112 s. MERCHANTS’ REPORTS Merchants report receipt of overseas cables as follow: — Norden and Company, from their London principals, Andrew Clement and Sons, under date September 20:—“Butter, salted, 184 s (equivalent to Is 5.93 d a lb f.0.b.); unsalted, 1945; market quiet. Cheese, white, 114 s (equivalent to 10.45 d a lb f.0.b.); coloured, 112 s; market steady.” Amalgamated Dairies, Ltd., from their London office, under date September 20:— “Butter: Prices unchanged; ‘Anchor,* 186 s; market very quiet. Danish down to 191 s f.o.b. Cheese: Prices unchanged; white, 114 s; coloured, 112 s; market very quiet.” Dalgety and Company, Limited, from their London house, dated 20th instant. —Butter: The market is steady, but quiet. New Zealand finest salted, 182 s to 186 s; Danish, 198 s to 200 s; Australian finest unsaited, 182 s to 184 s; salted, 170 s to 1745; G.A.Q., 160 sto 1645. Cheese: The market is steady, but quiet. New Zealand white, 113 s to 114 s; coloured, Ills to 112 s; Canadian white, 112 s to 114 s; coloured, Ills to lips; c.i.f., 112 s to to 113 s 6d; Australian white, Ills to 112 s; coloured, 110 s to Ills.

DISTRIBUTORS, LTD. NO SETTLEMENT REACHED Press Association CHRISTCHURCH, Thursday. Millers who are shareholders in Distributors, Ltd., have been meeting in conference at Christchurch for several days discussing whether the company shall carry on or be wound up. This evening the office of Distributors, Ltd., supplied the following report to the Press:— “The conference has disbanded without result. In view of conflicting interests, the matter of a satisfactory settlement is very doubtful. WHEAT, FLOUR AND PULSE (Australian and N.Z. Press Association) (United Service) Reed. 11 a.m. LONDON, Thursday. Wheat.—Cargoes are steadier, on better American and Canadian closings, and reports of drought in parts of Australia. Quotations are 3d to 6d higher, but buyers are not disposed to trade. Parcels have moderate inquiry, with a similar advance. Liverpool futures: October, 8s 9 7-Sd; December, 9s 0 1-Sd; March, 9s 2 3-Bd. The spot trade is quiet. Australian, ex ship, 475. Flour is slow. Ex store, 32s 6d to 33s 6d.

Oats are dull, and peas and beans are steady.

FOREIGN EXCHANGE RATES (Australian and N.Z. Press Association) (United Service) Reed. 11 a.m. LONDON, Thurs. Foreign rates of exchange on September 20, compared with par rates, or as averaged first half of 1914, are:—

Brussels, francs w s !& o 17 Par. 11:111 Paris, francs .. 124.15 124.20 Stockholm, knr. IS. 14 18.13 18.12 Oslo, knr 18.20 18.19 '18.12 Copenhagen knr. 18.20 18.19 18.12 Berlin, r.m. 20.35 20.36 Rome, lire .. .. 92.7S 92.S3 25.22* Calcutta, pence 18 IS 24 Yokohama, p'nce 225 22 11-16 24.43 Hong Kongr. pee. Montreal, dollars 24 3-8 4.85 2 tt;l 24 4.866 New York, dol. 4.85 132 4.So 3-32 4.866 Amsterdam, fl. . 12.092 12.08 7-S 12.107 Batavia, fl 12.10* 12.10* —