DAIRY PRODUCE PRICES

Evening Post, Volume CXV, Issue 72, 27 March 1933, Page 10

DAIRY PRODUCE PRICES

WHY THEY ARE LOW

The New Zealand Producers' Co-opera-tive Marketing Association^ weekly ; cabled.market report from London, dated March 24, is as follows:—"Butter: Mar- : ket is firm with more inquiry. New Zealand 71s to- 735; Danish 96s to 88s. . Cheese: Market .firmer. New Zealand * ; white 40s to 41s, coloured 48s to 495." Joseph Nathaij and Co., Ltd., have re- : ceived_ from their principals, Trengrouse . and Nathan, Ltd., London, the following cabled advice, dated March 25:—"New Zealand butter: After considerable buying 72s closed 73s per cwt. New Zealand cheese: White 41s to 42s per cwt; coloured 48s to 495." Samuel Page and Son, London, in acommunication to Dalgety and Co., dated -London, February lfi, make special refer,ence to the low prices ruling for New / Zealand and Australian butter. They state that "there can be no change from - 'this unfortunate state of affairs ■ until total supplies lighten considerably. "The position is so serious that the -Australian and New ■ Zealand importers , jointly have approached the Ministry of Agriculture requesting that steps be taken - to restrict the importation from foreign . countries. Apart, from financial stringency (which possibly forces unduly some » -holders to sell), unemployment, the curtailed purchasing power of the masses owing to wage reductions, and a widespread epidemic of influenza which must have adversely affected consumption, low prices still seem inevitable in view of the tremendous quantities imported. '- xi." To take butte r» f°r instance; during - the past thirteen months this country ; imported nearly 460,000 tons, necessitat- _ ang a weekly average consumption, after .. allowing for re-exports, of 8000 tons. A truly enormous quantity for disposal, apart from the English make, and one that looks almost incapable of expansion even at current low prices. Many shops are "tailing; Empire butter at 9d and cheese at 6d, and even less money is being taken here and there; while other shops are we understand, adopting 'giftf schemes in order to attract still more buyers"