COMMERCE IN MAIZE GRAIN 



5" 



and New Zealand affords the opportunity of developing a 

 market there, especially to the stock-raising centres. The fact 

 that South African cargoes for Australia do not cross the 

 Equator should enable them to arrive in excellent condition. 

 Some extensive shipments have recently been made. 



4S8. Prices in European Markets. — Of some of the early 

 consignments of South African maize, exported in 1907, it 

 was reported: "The consignments of Natal mielies which 

 have recently come to hand have met an active market, as 

 much as 26s., and in some cases 26s. 6d. per quarter having 

 been realized. A large quantity has reached Hamburg, Antwerp, 

 and Rotterdam, during the last few days, to be used for dis- 

 tilling purposes, and good business is stated to have been done." ' 



489. Prices on the English Market, 1880- 1908. — During the 

 thirty years from 1880 to 1909 the average yearly price ol 

 " American " and Argentine maize on the English markets has 

 fluctuated between 12s. 9d. per quarter (5s. 3fd. per muid) in 

 1897, to 28s. per quarter (us. Sd. per muid) in 1882. The 

 mean of the yearly averages for the twenty-nine years from 

 1880 to 1908 was as follows: — 



CHAP. 



XII. 



The average yearly prices of American mixed and La 

 Plata yellow maize, for London and Liverpool, prompt ship- 

 ment, per quarter of 480 lbs., for the years 1880-1908, inclusive, 

 will be found in Table LXIX. 



From the following table we see that the average price of 

 American and La Plata maize has been rising steadily from 

 the year 1897, with but a slight drop in 1904. 



490. The High London Prices of 1907-S. — The beginnings 

 of the South African export trade are traceable to the con- 

 junction of two fortuitous circumstances: (1) the temptingly 

 high prices prevailing in Europe, and (2) increased production 



1 N.A.J., Vol. X, No. 10, Oct., 1907. 



