POTATO MARKET QUIET

Sun (Auckland), Volume II, Issue 489, 19 October 1928, Page 12

POTATO MARKET QUIET

i AMPLE STOCKS HELD ONIONS FROM MELBOURNE After many weeks of battling with fluctuating markets and vanishing supplies, activities in grain, seed and produce circles have quietened down to see no line giving special concern at the moment. The spot position in regard to pota- | toes is sound. The Wingatui on i Wednesday brought approximately j 6,000 sacks, making available stocks j sufficient to carry the market for eight to ten days. The demand for old j potatoes is gradually dwindling away ! as the new season’s tubers come for- ; ward at lower prices and, at the liign ■ rates still ruling, the old potatoes are ! not particularly good buying. At the moment it seems that the position on the spot is considerably easier than in the South, where there i is reported to be a firm market with some forward sellers still endeavourJ ing to cover commitments. In Auckland, merchants are not taking a : great deal of interest in the market beyond seeing to it that immediate requirements are covered. The market price through store is in the vicinity uf 13s to 13s 6d a cwt, with even 10s a ton less talked of in some quarters. These figures are below the Southern f.o.b. parity. The Wingatui brought further supplies of seed potatoes and relieved what was becoming a rather serious shortage. There is still a certain demand for this grade at prices varying according to variety. Onion Market Brighter A ray of brightness has come to the onion position during the week with the knowledge that Melbourne Globes will be available during the first week in December. At present a price that will enable them to be sold at from 16s to 17s a cwt through store Auckland is being talked about, and a certain number of small forward bookings have been reported on that basis. The majority of the merchants are adopting a wait-and-see attitude, however, holding the view that there is an extreme likelihood of the market easing as the season advances and date of shipment draws to hand. Last year Melbourne prompt quotations opened at about £2 a ton below the present level and then slumped to about £2 a ton. Such a position is not, of course, forecasted this year, but it is confidently expected that slightly lower quotations will be available within the next fortnight or so. At the moment spot stocks are short with quotations through store firm at up to 37s 6d a crate. The Aorangi brings the next Canadian shipment during the second week in November. Maize Position Unaltered The maize position is unalteredTrom last week. A limited number of orders are still going South for the local Auckland trade on a basis of 5s 3d to 5s 4d f.o.b. Gisborne. An occasional salo of Bay of Plenty maize is still heard of on the same basis, but business down there is very quiet, and weak holders are right off the market. The 5s Id maize of a few weeks ago is gone. The fowl wheat position shows a slightly easier tendency than at the date of last week’s report, forward quotations for November and December shipments coming back Id to 2d during the past day or so. Estimates of the new season’s Southern crop received in Auckland indicate a falling off in supplies as compared with last year. At the moment soles are being made through store Auckland around 6s 8d a bushel. Chaff has firmed up in the South during the week, but spot quotations remain unchanged at up to £9 10s through store. The recent rise in oats has been maintained and quotations remain unaltered at last week’s rates. FOREIGN EXCHANGE RATES (Australian and N.Z. Press Association) (United Service) Reed. 9 a.m. LONDON, Thursday. Foreign rates of exchange on October

IS, compared with par rates, averaged first half of 1914, are:— :>r as Oct. 18 Oct. 15 Par. Brussels, fr. . . 34.90 • 34.89 25.225 Paris, francs . . 124.20 124.19 25.225 Stockholm, knr. 18.14 18.14 18.12 Oslo, knr 18.195 18.20 1S.12 Copenhagen knr. 18.19 IS.20 18.12 Berlin, r.m 20.So 20.37 Rome, lire . . .. 92.58 92.68 ' 25.225 Calcutta, pence . 18 1-16 IS 1-32 24 Yokohama, pee. 222 22 11-16 24.43 TTong-Kong, pee. 24 9-16 243 24 Montreal, dol. . . 4.85 5 4.85J 4.866 New York. rlol. 4.85 4.85 3-32 4.866 Amsterdam, fl. . 12.095 12.10 12.107 Batavia, fl 12.095 12.09