Germany an Active Buyer During 1925: Eastern Europe Competing with China: The Hongkong Position HE year under review opened with feathers in considerable demand at advanced prices both from Europe and America, Germany being an active buyer at full rates. Interest was shown in all descriptions, record prices being paid for white goose, with Szechuan duck also in active demand, all arrivals being readily bought up. This demand continued without slackening until about the middle of the year, when prices cased off slightly.
The market, however, remained firm owing to further inquiry, and prices again advanced with the strong demand that sprang up during August and September. Orders were principally. from consumers who had contracted for south China feathers, which, owing to the prevailing trouble, Hongkong were unable to ship, and it was therefore necessary for them to replace these purchases in order to fulfil their contracts for cleaned down which had been sold in advance.
This demand slackened with the early declaration of "Hongkong cargo afloat, and the market to the end of the year has since been quiet and inactive but with prices for practically all descriptions unaltered.
Holders have generally been asking higher prices than last year, with buyers reluctant to place orders even at previous rates. Supplies in general are normal with a slight shortage in the quantity of Nanking duck feathers available.
Business during the year has on the whole been good, the exports showing an appreciable increase over ly 15 per cent. continues to be the larg per cent. of the entire export. America is next with 30 per cent, Great Br 32 per cent., Denmark 8 per cent., Holland 4 per cent. the remaining 3 per cent., being divided between Belyium and France.
Germany has recently.beén a buyer from Hungary and Eastern Eurorpe and in some cases has fulfilled her requirements from these sources when prices in China have been too high. amount, this has its influence on the market, and the rest is done by high taxation and the difficulties and at times the impossibility, of transport.
As a consequence of all this the sesame um seed market no longer has the importance it once had in Shanghai, What a produce exporting firm desires is a business in which supplies come regularly from the interior in great. bulk, and at such prices that the trade is not dependent on such adventitious cireumstances as poor harvests in other countries. There are several places in very strong competition with China, and during 1925 only very favourable shipping rates have made possible the few cargoes which were able to compete against the Indian and African markets. It happens more or less after this fashion, that where companies can book large cargo spaces for other produce, to complete the total tonnage they are able to include a consignment of sesamum seed.
The vagaries of the trade are not uninteresting. The Customs returns of 1924 showed a total export of 1,200,000 piculs, and of this Holland took 232,000 piculs, Italy 395,000, Japan 235,000, Germany 119,000 and Great Britain only 3,000. Italy seems to continue to be a big consumer, for the 1923 statistics show that her importation was 649,000 piculs, G many coming second with 260,000 piculs. Japan took 258,000 piculs, Holland 268,000 and the United Kingdom 111,000 piculs. European countries, as we have stated, use the oil of these seeds for such purposes as the manufacture of margarine and soap, while Japan has a use for it practically akin to its native use in China—oil for cooking. The very fact that there is such a demand, not only in China but in the immediate neighbouring countries, possibly hampers the export trade to Europe and America, especially when there are other countries which offer seeds which when sesamum is too dear can be used for vegetable oil purposes at a much cheaper rate,
Text read from the printed page and cleaned; old type leaves the occasional error.