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stocks which are available up to the appearance of the new crop 

 are still kept high, but if this year's fruit is once placed on the 

 market, a corresponding drop in the prices will in all probability take 

 place, provided that speculative intervention does not once more 

 upset all calculations. In any case a good medium harvest is anticipated, 

 the yield of which is estimated at about 170000 bales. Reports from 

 Sicily are also favourable. 



Almond Oil, pressed, from apricot kernels. As early as 

 February the stock of Damascene apricot kernels of the last harvest 

 was completely exhausted, and since then the gang of speculators has 

 successfully attempted to keep up the prices of old kernels, or to drive 

 them still higher. In view of the lack of normal kernels, even inferior 

 qualities from the most varied districts outside the Damascene terri- 

 tory were absorbed at very high prices. If at Marseille, a port which 

 ranks second in the trade in apricot kernels, Damascus kernels were 

 quoted in July already at 115 francs , this price was considerably 

 exceeded in Hamburg, inasmuch as occasionally for qualities of un- 

 reliable origin up to 106 marks per 100 kilos were paid. 



The Mersina quality, which is greatly inferior to the Damascus 

 kernel, also fetched high prices of 98 to 102 marks. In consequence 

 of these movements in the markets, and of the reports of a very 

 small Californian crop which came to hand as early as May (Sep- 

 tember shipments were offered at about 133 marks per 100 kilos), 

 the price of new kernels also advanced, the more so as the Damascus 

 harvest was said to be considerably smaller than that of last year. 

 Reports say that the shortage is about 4000 to 4500 bales, as com- 

 pared with a crop of 8000 to 9000 bales in the year 1906. The 

 prices of this year's kernels moved at first between 96 and 98 marks 

 for September- October delivery, but it is said that Hamburg has 

 lately been offering at lower figures, the report being about 90 marks 

 for shipment from Damascus, whilst kernels of other origin are said 

 to be worth only 84 to 86 marks. The flat condition of the almond 

 market, which of course affects that of the kernels to some extent, 

 has probably induced Hamburg to start a movement in another 

 direction, but this may at any moment turn round about. It is, 

 naturally, difficult to say how the market will shape itself in the 

 future, but in any case, our informant is of opinion that though at 

 first the tendency may be weaker, a scarcity must make itself felt 

 later on. In Damascus a large proportion of the crop has already 

 been disposed of, so that in November, December and January not 

 much can be expected, at least of qualities which come under con- 

 sideration for oil. For this reason we do not think that for the 

 present we can hold out to our friends any hopes of cheaper prices 

 of almond oil from apricot kernels. 



