‘Report on the administration of the Persian Gulf Political Residency and Muscat Political Agency for 1886-87.’ [‎345v] (24/60)

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ADMINISTEATION REPORT OP THE PERSIAN GULF The historical term used to describe the body of water between the Arabian Peninsula and Iran. POLITICAL
PART III.
REPORT ON THE TRADE OF SOUTH PERSIA FOR THE YEAR 1886.
In the report for year 1885 it was stated that owing to partial failure of the grain crops,
and consequent scarcity, trade generally had been much injured and depressed in South Persia,
and its recovery or otherwise would depend greatly on the harvest of 1886, the prospects
* " e "n March 1886 were > w he n the report was written,* favourable.
Notwithstanding a good average rainfall of 15^ inches, there
was again a partial failure of the crops, especially in the Shiraz districts, and the result of this
has been a further depression of trade which was increased by the unfavourable rates of
exchange. The year under review has accordingly been most unfavourable, and in no previous
year has so unsettled a feeling and so much want of confidence prevailed. The consuming
classes have been impoverished from high prices of food, and are unable to purchase other
articles of import to the customary extent. Many of the smaller Persian merchants have
failed. And all who have continued to transact business have had to do so without reckoning
on profits, and what with depressed markets and decreased confidence, no headway has been
made. The prospects for 1887 are still uncertain; the rain came late and has been partial
only, but reports from Shiraz districts are not unfavourable.
Exports,
During the early part of 1885 shipments of wheat were permitted and made, but the
quantity was limited to a few hundred tons. The quality was
very good; the prices of grain were during this period so low
as to allow a profit even on the low prices ruling in Europe. After the hot weather prices
rose, and in September embargo was placed on exportation of grain which continues in force.
The opium crop was about equal to that of the previous year, but the China and London
0 . um markets were very bad, and there was no demand until Sep
tember.
The tobacco crop was smaller than usual, owing to its being injured by frost in winter^
and prices were correspondingly high. Tobacco is an im
portant export of Persia, and the trade has attracted attention
f iVo^e.— It is understood this project of late. The Persian Government have decided to institute a
is abandoned. regief for Persian tobacco under the control of the Amin-es-
Sultan, now head of the whole of the customs of Persia. It is thought that this measure will
unfavourably affect the trade.
Imports.
The decline of the import trade in cotton goods would have been still greater than it
Manchester goods. actually was, had it been governed by the law of profits. A
decrease chiefly occurred in printed goods. It was in point
of fact impossible to import from Europe at a profit, and importers lost heavily, many native
speculators of small means having failed.
There was a steady decline of other leading articles, such as metals and sugar. The com.
. , , petition between French and German sugar continues, and it
iviotciis ana ^
is generally expected that the former will gain the market.
Large imports of Marseilles loaf sugar were made, but markets owing to the impoverishment of
the people are overstocked and holders of stocks apprehended loss.
Shipping.
The French line of steamers resumed running, but the number is reduced to two, and
these are under the management of an English firm.
Freights from England to the Persian Gulf The historical term used to describe the body of water between the Arabian Peninsula and Iran. and Busrah remained unaltered. But in
Freights. consequence of keen competition homeward freights fell to
16«. per ton to England and H6 to Jeddah. Towards the
end of the year freights recovered somewhat, and are expected to keep firm for the present.