GRAIN AND PRODUCE

Wairarapa Times-Age, 13 June 1938, Page 3

GRAIN AND PRODUCE

CANTERBURY MARKETS CHIEF INTEREST IN POTATOES (By Telegraph—Press Association.) CHRISTCHURCH, June 11. Interest in the Canterbury grain and produce markets is still confined to potatoes. Following the Government’s announcement that an investigation will be made into marketing overseas, the forward market is firmer, although practically no actual business is being done or is likely to be done until the result of the investigation is announced.

Last season, when the crop was heavy, New Zealand exported 23,000 tons of potatoes. This year, the crop is not quite as heavy, but a slightly larger area has been sown and it seems likely that at least 20,000 tons will have to be talcen off the local market to remove the glut. No business has been done with South America, and it is very doubtful whether any will be done. Cabled quotations have been received in Christchurch from South America, but they are not high enough to justify business. Both Uruguay and Argentine have a duty of 10s 'per ton on potatoes, and with freight, exchange, bagging and other charges, the cost of exporting to both countries would be about £7 ton, which is more than the price which has been quoted. As a large number of growers have held their crops later than is usual in the hope that the price would rise, the statement to be made by the Government next week will be awaited with much interest.

The markets for chaff and oats are dull, and there is no business in the small seeds trade.