BUTTER MARKET

Hokitika Guardian, 29 December 1925, Page 3

BUTTER MARKET

” INSTRUCTIONS COME FROM NEW ZEALAND." LONDON. November 21. A correspondent, to the “ Journal of Commerce” has been defending the dairy trade of New Zealand against accusations of holding up supplies, Li reply, another correspondent, signing himself ” Cynic.” writes as follows: •' 1 would like to say that apparently the real facts of the ease, which arc well known to those in London who have connections with the dairy produce trade, are that the supplies of New Zealand butler were obviously withheld from the English market in cold store for some months at tho dictation of the owners of the butter in New Zealand, plus the added cleverness of a certain well-known large combination of New Zealand dairies, whose administrative offices are in the City of London, and not in Tooley Street. As history has shown, the market for the last two or three mouths suddenly rose over £3O per ton and most of the big buyers resolutely hold off the speculative market, and contented themselves with, buying onlv their regular weekly supplies. The net result was that eventually the market broke up badly. ” I will hazard a pretty good guess that there is a fairly large quantity of butter (New Zealand) in cold store in London now. out of condition, spotted, the flavour leaving much to he desired. All these boxes are branded Ist Government grade, hut the quality is very far below the grade mark. The butter market is not getting in a more normal erudition. I, ut it is still weak, and there appears to he more butter about Hull! is really wanted. It will he very interesting to English buyers In note what this wonderful New Zealand Board, which is going to function in London in August next, will do for the consumers of New Zealand I,idler. To those who do not know, it ennnot he jo clearly pointed out that the agents and brokers in the butter trade now take their instructions from New Zealand, and they arc not allowed in an ordinary way to soli at what is known as ordinary market price. Instructions came from New Zealand. “ In coneiusion, 1 would like to emphasise the point that- hevond doubt the reason this butter in cold store is badly out of condition in entirely due to hold-on instructions received from New Zealand by t.he factories who own the butter.”