RAW SUGAR NOW CHEAPER IN N.Z. FROM EXCHANGE CUT

Grey River Argus, 13 November 1948, Page 4

RAW SUGAR NOW CHEAPER IN N.Z. FROM EXCHANGE CUT

But Retail Price Reduction Uncertain P.A. AUCKLAND, .Nov. 12. The prosepect of a reduction in the selling price of relined sugar in New Zealand, within a short time, was mentioned, by Mr C. W. .Rothe, General Manager of th e Colonial Sugar Relining Company Ltd., in his report to the half-yearly meeting of the company .in 'Sydney to-day. He said that such reduction fohowed on the alteration in the Dominion exchange rate. The amount of the reduction to the housewife, however, would, he said, depend mainly on the Government reaching a dec'.sion as to continuance of its present subsidy of £4 7s 5d per ton on household sug<ir. In an interview in Auckland last month, Mr Rothe had stated that the landed cost of raw sugar in New Zealand should fall in an appreciable degree, following on the exchange rate alteration. He said that other Victors, such as overseas prices of goods import duties, subsidies and internal New Zealand manufacturing and g'stributing costs, would have to be taxen into account before the price to the New Zealand consumers was reached.