WELLINGTON NEWS

Hokitika Guardian, 27 April 1928, Page 4

WELLINGTON NEWS

FROZEN AND CHILLED .MEAT. (Special to “Guardian”.) WELLINGTON, April 21. .Messrs George C. Ivean and 00. Ltd. meat salesmen, London, in their general survey of the markets for frozen and (hilled meat in 1927, state that shipments of Argentine chilled beef, owing to competition, has been tar in excess of the actual requirements of the United Kingdom market during the greater part of the year, and this was not without its effect on prices, not only of chilled beef but also of other descriptions of imported meat. Therefore one of the most interesting features of the year, to all meat producing countries is the agreement recently concluded, between South American shippers, somewhat on the lines ol the arrangement in existence tor several years prior to 1925. U.v this arrangement an endeavour is to be made to put into service between South Ameriia and the United Kingdom and the Continent, just sufficient freight tonnage to cater for the maximum requirements of these countries and such regulation should tend to stabilsc the industry and instil more confidence throughout the trade. The embargo placed on Continental meat imports in Juno, 1926. was continued throughout the year, consequently there has not been any competition; from that sourc e. On the other hand, home-killed supplies have been more .ample, the effects of which have, at times, been, felt somewhat acutely in Smithfickl, owing t > the moderate demand in the provincial centres being responsible in some measuie lor diverting consignments to that market.

During'the year there was no alteration in freight rates either from Australia or New Zealand, but a reduction took place in July in the rates from the Argentine. Insurances rates towards the end of the year had a tendency to harden. There was some reduction in the storage charges incurred in London, these having been reduced in August hv 2s per ton lor the first month’s management rate, and Is per ton for subsequent months, while Irom January I. 1928. a somewhat similar reduction was made in storage rates ai Liverpool. The year’s importations ol frozen heel from Australia, New Zealand and South America amounted t 5)92,-132 quarters, a decrease of 618.62 s quarters on the 1926 receipts. It n interesting to note that since 192) frozen beef imports have Ia 1 lon Irom about 2.174.000 quarters to less than 1,000.000 quarters, and this can he almost directly traced to the effect of chilled beef competition, which has made the exports of froi'.en heel unprofitable to the producers. From the throe main sources of supply of frozen mutton—New Zealand. Australia and South America —tlietot.il arrivals for the year were 1.903,002 carcases, or over a quarter of a million less than during 1926. All past records in the history of the Irozcn lamb trade were broken by the total imports during 1927, the receipts from Australia. New Zealand, and South America amounting to the substantial figuie oi 10.228,331 carcases, thus showing an increase of 1,397,830 carcases on the 1926 arrivals. With respect to the outlook the linn states that as far as the meat industry is concerned the settlement of disagreements between Soulh American shipping should tend to create a more confidenl feeling generally, a laelor which shnuhi also have a henelieial ollect oil the trade. There is also an element of risk in forecasting the trend of values, hut it is probable that (luring 1928 heel prices will on the average he higher than in 1927. it is doubtful if there will lie any appreciable difference between the two years as far as mutton and lamb are concerned. Ihe position on the Continent is more uncertain hut cvrvthing points to gradually i educed imports, the hulk of the trade being, as in 1927. confined to Germany and Belgium.