Page 23 - PERSIAN 4 1890_1899

RESIDENCY AND MU80AT POLITICAL AGENCY POR 1890^L
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Part III.—REPORT ON THE TRADE OF 80UTH PERSIA FOR THE
YEAR 1890..

The trade of South Persia during the year 1890 has not been so satiafactoiy
as that of the previous year. Two causes have contributed to this somewhat
unfavourable result. A short harvest, owing to late and scanty rainfall, and
the violent fluctuations in the price of silver, resulting from legislation in the
United States;
Import*,
Piece-goods were, it is true, imported in large quantities, and the north of
Persia, especially the markets at Tehran and Yezd,
appear to show increased demand, but, as regards
Piwtt-goods.
the south of Persia at least, the results have been
unfavourable, not to say disastrous. In the pre­
vious year there were indications of a glut in the markets and continued large
importations of cotton goods served to increase this eviL The advance in silver
caused stocks to be pressed heavily for sale, and the Persian dealers, who thought
they had bought at cheap rates, found goods offered at still lower rates falling
week by week. The result in a market where credit is the rule and where native
buyers are in general without reserves was inevitable, that is to say, cancellation
of engagements became frequent and in many instances native dealers became
insolvent.
The demand has heretofore been principally for grey Mexicans and shirt­
ings, white shirtings, mulls and jacconets, there being little sale in the 60Uth
for mors expensive goods.
Imports of sugar were on an increased scale,
Sogu.
and in excess of demand, leading to low prices and
heavy losses.
German loafsugar is not successful, and will probably be abandoned in
favour of the French article. French and German granulated sugars, mosfcjy
beet, compete successfully with Mauritius sugars, being imported at somewhat
lower rates. The European sugars are imported to Persian porta in DritaA
steamers direct from London.
Copper was imported in less quamfiy thaw in the
Copper.
previous year, owing to high prices ruling in Europe.
Export*. ^
The quantity of grain exported was less than in 1888 and 1889. Ad’
of silver quite stopped business for i hste, prices
in Persia not following that movement. In Un
early autumn home prices improved, and shipments were resumed and kept mp
steadily, though in small quantities, until the close of the year.
The crop of opium was tbe largest on record, Che total export from Bushire
being 4,817 cases, of which 806 went to London and
Op*«
the remainder to Hong-Kong. The China market
was, however, over-stocked, so that prices were too low to allow of profits, and
in some cases heavy losses were experienced. The new American tariff has
affected' the demand in London, and it may be expected that growers will realise
only lower prices in the ensuing season.
Tobacco. Exporters have suffered losses in this article.
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