CHEAPER POTATOES

Sun (Auckland), Volume II, Issue 519, 23 November 1928, Page 12

CHEAPER POTATOES

SUPPLIES INCREASING ONION MARKET EASIER The general trend in grain, seed, and produce market circles at the moment appears to be downward. The market for potatoes, onions, and maiie has eased over the week. Business generally is quiet. The few old potatoes left on the market are not having any influence on prices. Trade in Auckland is being done solely in the new season’s tubers. Values for these have receded considerably during the week, and in the marts yesterday, as a result of increased supplies, they w.ere selling under the hammer as low as £l2 10s a ton. Pukekohe f.o.r. quotations for storekeepers’ lots were reduced during the day to £l3 10s a ton, and appearances are that if yesterday’s low auction prices prevail again to-day a further reduction ‘will have to take place -at Pukekohe. Through store Auckland quotations vary considerably with the falling market, and yesterday ranged up to 18s 4d a cwt. Southern merchants are already looking to the future, and a limited amount of business has been done with storekeepers at a price round £7 10s through store Auckland for April, May, and June delivery. Onions Harder to Quit The onion market is weak, with practically no business of anysize being reported at the moment. The near approach of the Melbourne Globes has caused holders to become anxious, and the spot market for American onions has fallen to see them offered through store at 29s to 30s a case or bag. With the warmer weather, and the high price, the retail demand for onions has fallen well below he average. The first shipment of Melbourne Globes is due here early next week, but owing to the high prices ruling when the season opened over there, merchants have not bought heavily. Prices will be little cheaper than those ruling for the Americans at the present time. Reports to hand from the country indicate that the local crop is coming on well, and that at least i ormal supplies can be expected early in the new year. Cereal Market Quiet The cereal market is quiet. The position in regard to maize has undergone a slight change. In the. Bay of Plenty, quotations advanced to os (id f.o.r. during the week, and some busij ness was done at that figure. The : market there eased again yesterday, j however. The Poverty Bay market has a decideiy weaker tone, and sales have been made during the last day or so down as low as 5s Id f.o.b. Gisborne. Merchants down there are still writing up predicting a rise, but the general view here appears to be that little life can be expected in the. market until after the holidays. The market for wheat, oats, and chaff remains stationary. B Gai-tons sell through store Auckland at 4s Sd ' a bushel. A’s are fourpenee dearer.. Chaff is steady at £9 10s a ton for best sample. Wheat sells at 7s 8d a bushel. Heavy Sales of Fertilisers Merchants report heavy sales of fertilisers, mostly for delivery after December 1, when the cheaper quotations for superphosphate will rule. An unprecedented position in regard to basic slag has arisen. Owing to an abnormal local demand on the Continent of Europe, the market there has risen to levels on which New Zealand merchants are not keen to buy. The result is that supplies for autumn delivery will be greatly restricted.