On Short Rations

Sun (Auckland), Volume II, Issue 477, 5 October 1928, Page 1

On Short Rations

Fewer Potatoes for Aucklanders New Crop Not Ready 'PHE Minister of Agriculture has stated that there are A sufficient potatoes available to fulfil the market requirements until the arrival of the new season’s crop. Auckland has not seen them, however, and there are just sufficient tubers on hand to last the city for about a week. Reduced supplies from the South and exliorbitantly high prices are combining to restrict consumption here. •

Within a little over a week the price of potatoes rose from about £6 a ton to around about £l3 a ton, this phenomenal jump being due to speculation of an unprecedented degree among merchants. An attempt—largely successful was made to corner supplies, and merchants have been holding for still greater prices. The position now in Auckland is that the housewife cannot hope for potatoes at anything like a cheap rate until after the end of November, because they cannot be bought in the South, and the new crop from Pukekohe will not be coming forward in any quantities until about the end of this month. This city eats from 6,000 to 7,000 sacks of potatoes in a week. There, are approximately this many on hand—including the consignment on the Kurow, which is due at Auckland from South to-morrow morning. The next arrival will be about ten days hence, when a few thousand sacks will be brought up * to meet the Northern derpand. Local growers have commenced to dig the earlier portion of their new season’s crop, and these lines are fetching anything up to £3O a ton. One Auckland merchant, in commenting upon the situation, said there had not been such active speculation in the potato market for many years. In accordance with market procedure the goods changed hands many times on paper only, while the price fluctuated violently at each change, or rose steadily with the ruling tendency. FRUITS OF SPECULATION “This will mean that Aucklanders will eat fewer potatoes for a while,” he said, “but it is noticeable that in such circumstances, small supplies appear from unexpected sources. Hidden quantities show themselves from small holders, and these, together with the reduction in consumption caused by the exceptionally high price, tend to stabilise the market. We will struggle along all right, but potatoes are scarce—very scarce indeed—and we cannot expect to buy at cheap rates till the end of next month at the earliest.” Speculation is part of the business of the merchant, and it is reported from a provincial town that the produce manager of one Arm who allowed his “cornered” supply to go too early—-

thereby netting a substantial loss—was dismissed from his job. The present activity of the speculator in the potato market is exceptional, however. For the local grower this is a windfall, but the public pays. BAN ON IMPORTS NO LIFTING OF REGULATIONS (THE SUN’S Parliamentary Reporter) WELLINGTON, Thursday. Speculation in the potato market in New Zealand has had the effect of forcing up the price to the consumer, according to a statement made in the House today by the Hon. O. J. Hawken, Minister of Agriculture. The Government would not, however, relax its regulations against imports, added the Minister. The question was raised by Mr. W. S. Glenn CRangitikei), who said that potatoes were very expensive, and householders were greatly exercised about the high price. “VERY DEAR” The Minister said there was no doubt that the price of potatoes had been very high in recent weeks. Under the existing regulations, however, no potatoes could be imported from Australia or Tasmania if they were in any way diseased, and it had been found that few potatoes from these sources were free from disease. Consequently merchants were unable to import potatoes. The Government had no intention, went on the Minister, of re- . taxing the regulations against the importations of diseased potatoes. The new potatoes should be in in a fortnight, and that would ease the position. There had no doubt been a certain amount of speculation. It was difficult to say if there really were enough old potatoes to supply the market till the new potatoes came in, but, according to his information, there were. The present price was artificial.