SCOPE FOR REDUCTION

Gisborne Herald, Volume LXVI, Issue 20012, 10 August 1939, Page 5

SCOPE FOR REDUCTION

PRICE OF TINNED FISH OPINION OF TRIBUNAL WELLINGTON, this day. The view that, providing the supplies' of salmon, herrings and sardines remained available, there should be some scope for a reduction in the price to the public is expressed by the Price Investigation Tribunal as one of its findings after a judicial inquiry. •' ■ ' ,

This announcement was made last night by the Minister of Industries and Commerce, the Hon. D. G. Sullivan. The Minister said that inquiry had been made into the prices .and supplies of tinned fish, as it had recently been sltated that, owing' fc a shortage of supplies, the prices of these commodities tod been raised. Written submissions and the evidence of witnesses was taken by the tribunal, the main findings of which were that the present stoclcs of salmon'were sufficient to last until the new season's supplies wefe available in November and December of this year and that an abnormal demand had been caused by an anticipated shortage, together with uncertainty as to supplies from November, 1939, onwards and the talk of a higher replacement cost had.led to an increase in the prices to the public.

These circumstances in some cases had enabled merchants to obtain a larger margin of profit than they would otherwise have obtained. Although the supplies of herrings and sardines had been reduced there was no evidence of a shortage and similar happenings to those in the case of salmon tod resulted. In view 0-f /he approach of the Centennial 1 Exhibition and crther celebrations it might be anticipated that there would be a larger demand than usual for these commodities and the ■ tribunal would watch 'the position closely to ensure that the available supplies were sold at the lowest possible prices, after providing for a fair and reasonable rate of profit to the retailers and wholesalers. •'.' - .