Page 76 - PERSIAN 2C 1890_1899_Neat

20 ADMINISTRATION REPORT ON THE PER8IAN GULP POLITICAL

on hand at the close of the year, and could not he disposed of profitably at
market rates.
Sugar.—The market in loaf sugar was overstocked at the beginning of the
year, as the result of the largo imports of 1890 and shipments were in conse­
quence restricted. Rates improved in the summer, and after a temporary fall
recovered again at the close of the year, when they were fairly remunerative.
The hulk of this sugar, comes from Marseilles, and German loaf sugar now
finds no market here. In soft sugar the importations from Europe were
smaller than usual. The Mauritius supplies the greater portion, and it is
received, shipped through Bombay, in better condition, than that from
London.
Tea.—A taste for Indian in preference to Java tea has sprung up, and
though Java tea, which replaced China varieties some time ago was still im­
ported, there was a Btill greater demand from Calcutta.

Exports.
The wheat and barley crops in the south of Persia were excellent, although
owing to the rain ceasmg early in the season, the grain was smaller than usual.
The export was large and continuous, and probably exceeded that of any pre­
vious year. Shipments were made both to London and to Indian ports, where
remunerative prices were obtained in consequence of short crops in Europe
and the enhanced value of sterling, even in spite of tlie Large quantities of
grain offered for sale. Eventually, however, rates fell, and the Jews, who were
then the chief exporters, lost considerably. The export of cereals has been
steadily increasing of late years, showing that the area of cultivation must bo
also widening. The usual embargo was placed on the export of grain—shipment
only permitted on the payment of special fees. As remarked earlier in this
report, it is not improbable that this embargo may be enforced this year, both
because the crops are not good, and also because the administration of Ears
has passed into other hands and different views may prevaiL
^Cotton.—Persian cotton, owing to false packing, imperfect cleaning, etc.,
is not in high repute in the London and Liverpool markets, and the year*s
transactions were hampered hy low prices both in India and in Europe. The
•crop itself may be profitable to the grower, but is not so to the exporter who
buys from him, considering the risk to which he is exposed of a constantly
fluctuating market. There are considerable stocks now on hand, and these will
have to be shipped in order to realise, even if there is but little improvement in
prices.
Opium.—The opium crop was unusually large, hut owing to the persistent
fall of prices in China, speculators were heavy losers. The scale of shipments
however, varied very little, being slightly larger to London where it is usually
sent by European firms for use in the preparation of morphia, and smaller to
China. The fall in prices has been as marked as it has been rapid. Only
two or three years ago shippers could obtain §500 a chest in China, and £14
a pound in London. Now the prices obtainable are §350 and 7*. 6d. respec­
tively ; and as this article has been often exported to the extent of 7,000 chests,
it is obvious how many interests are affected by these fluctuations in value.
Wool.—This is generally exported by Persians, and is sent first to Bussorah
where there are facilities for cleaning, sorting, and pressing it,1 it is not highly
thought of, and the trade in it is said not to be profitable. Most of the wool
goes to London, and a fair amount was shipped, hut prices did not encourage
exporters.