The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1871-08-02
THE RICE QUESTION.

The following remarks on the rice market
are copied from the New York Bulletin. East
India rice has been sold In small quantities In
this market, but it takes nobody's fancy like
the rich, pearly grain of tho Carollnas, and
will only find purchasers when the latter is at
extrayagant rates. The consumption Of Caro-
lima is constantly increasing, and the ship
ments to the great Northwest during this sea-
son, by. rail, has been unusually large, and
our own people are so partial to 1t that about
one-ffth Of the receipts at Charleston, during
the present season, will be consumed at home.
With small reduction in the price, this
admirable article of food would soon
make home demand, and double the
present growth would find market, but
1T must be good Carolina qualities and
not musty East India. The present crop
will m AXE Its appearance in very small guam
'tity about the lst of September, which is about
the same. as usual, and the increase IN the
crop WILDE very limited, and then only If fine
weather should prevail. The Bulletin writer
says:
/ In the early part of the present season o
large quantity OF ''weevily" rice was sent from
Savannah and Charleston and thrown upon
the New York market It was disposed oil at
very low figure, and in the meantime the
finer grades were kept back In anticipation of
an advance In prices In this speculation the
growers were disappointed. The fine goods
were In good demand, and fair prices were
obtained for suchs as had been sent forward.
The stock being held back, something must
satisfy the demand, and foreign rice took the
market.
The great bulk of the rice produced Is con-
sumed IN the agricultural districts by The farm
laborers, both because 1t Is cheap diet, and
because 1t Is cooling and noufishlng. There
being but little warm weather this summer,
the consumption fell of, and In consequence
the demand was lighter. Owing to the large
importations, foreign stock accumulated on
the market, and the demand being much below
the supply, prices declined. The high prices
of domestic rice at Charleston and Savannah
continued, and several dealers having large
stocks of foreign rice on hand, conceived the !.
idea Of underselling the Southern markets.
With this intention, sey raj invoices, amount
Ing In all to about 1000 bags, were sent South,
and actually sold in Charleston at one cent
per pou,d lower than the South Carolina rice.
The eject of this transaction was to bring out
equalize the prices. Patna rice, which Is the
choicest grade of the foreign article, has been
imported this year far In excess Of the de-
mand, and the price has fallen of, but the
poor grades still bring as high price as the
first qualities OF Rangoon. During the war
and the few years following, when the Carroll;
ma rice was scarce, the Parna took Its place,
and tor some time sold To- the same price.
But now, however, owing to the large impor-
tations, the price has declined.
The present growing stock In The Carolinas
Is expected TO arrive very early, the latest ad-
Vices say about the first Of September. This Is
very unusual, and if the first should arrive
about the middle of the month 1t would be far
In advance of the usual time. The crop Is es-
timated to be at least one-thlrd larger than
that Of this year. s~