The Bag of Plenty Beacon Published Mondays Wednesdays and Fridays. MONDAY, NOVEMBER 18th, 1940 OUR EXTERNAL TRADE

Bay of Plenty Beacon, Volume 2, Issue 239, 18 November 1940, Page 4

The Bag of Plenty Beacon Published Mondays Wednesdays and Fridays. MONDAY, NOVEMBER 18th, 1940 OUR EXTERNAL TRADE

THE export and import figures of the Dominion for the nine months to the end of September, show that our exports were valued at £57,438,000, as compared with £47,,476000 in the corresponding* nine months of 1939, an. increase of practically £10,000,000, and. the imports were valued at £38,308,000. as compared with £40,124,000 a decrease of tinder £2,000,000. The excess of exports over imports was thus £19,139,000 as compared with £7,352,000 in the corresponding hfne months of last year. The amounts are ir<( New Zealand currency. The excess of exports over imports this year, is very large, and the excess represents sterling exchange, converting New Zealand currency into stealing by deducting one fifth from the total* This would make the sterling balance about £15,300,00Q;. It is very probable that the whole of this and more is needed to meet our commitments in Britain, Australia,, and elsewhere. The exports show a substantial increase compared with last year, and this can be: understood, for the

time months of this year cover war months, while last

year only September was a war month. The British comi mandeer has of course made a big difference to the. values. It will be some time before the Monthly Abstract giving the details of the trade will, be available; in the meantime we have the details for the eight months to the end df August,, and these besides; being interesting give an indication of what may be expected. The exports for eight months were valued at £54,245,000 as against £44,478,000., an increase of about £9,800,000- The volume of butter exported, during the eight months was 1,629, 754 cwt.,,. as compared with 1,602,853 in the correspond- 1 ing eight months of 1939. The values were £11,328,518, against £10,315,145. Here it will seen that while the increase in the quantity exported was not quite 27,000 cwt.,, the realisation was about £1,000,000 more. Cheese shows to better advantage than butter, the quantity exported being 1,340,327 cwt., against 1,133,993 cwt.. an increase of about 245,000 cwt., and the realisations £5,429,668, againist £3,873,000, an increase of about £1,600,000. In. the eight months dairy produce exported has realised over £16,800,000, and it is cheering to note that there, has been increased production, notwithstanding the rise -in costs and the shortage of farm labour. In meat shipments chilled beef has shown a very marked shrinkage, and that is probably due to special difficulties which cannot be overcome during the war period. Frozen beef on. the other hand shows a great increase,, the quantities being 803, 932 cwt.,, against 474,433 cwt., and the realizations £1,682, 709 against £807,928 —an increase of practically 100 per cent. The number of lamb carcases exported showed a small increase both in quantity and value, while .mutton carcases showed "a very substantial increase, the realization being £2,169,617 against £1,089,906. The most substantial monetary increase has been in wool. The quantity exported during the period was 769,107 bales, against 796,307 bales, a decrease of over 27,000 bales, but the realizations were £14,474,531 against £11,231,575 an increase of over £3, 000,000. The shrinkage in quantity is due to a shrinkage in the sheep population. The farmers are doing their full share of war work by increasing production but whether they are getting the benefits of their efforts is quite another matter. Costs of production are advancing, while the guaranteed prices by the British Government cannot be increased. The position of the dairy farmer is obviously intolerable. otherwise we doubt whether the Dairy Conference would have taken the extreme step of passing a resolution of no confidence in the Minister of Marketing. What is wanted in Britain in this war-time is beef, pork,cheese and wool. Bread and cheese and beer, make quite a good meal, which is popular in Britain. The farmers are respondto the call for more production.