BUTTER QUOTA

Hokitika Guardian, 29 March 1933, Page 6

BUTTER QUOTA

A NEW ZEALAND OPINICN.

(Per Press Association — copyright.)

WELLINGTON, March 29. . Commenting on the cablegram from

its London branch, the sectary of the Dairy Produce Board said it was quite erident an attempt was being .mule on the part of importers in Breat Britain, to stampede the producers 0 t the Dominions and Commonwealth in connection with tlie restrictions. When it is considered that the proposed basis for restriction will not affect the quantities arriving in Great Britain to any extent t-ci the end of 1C33, it seems altogether beyond our comprehension that the present prices on the market should be so influenced

by the decision of producers. A member of a large expoiting firm stated that there was every prospect of advance:, made on butterfat being reduced to four pence and five pence per pound, as compared with six pence and seven pence as paid out on March 2d. Cablegrams received as far back as March 22 indicated that, unless a quota wcie arranged promptly, there was fear of a debacle.

The opinion of the majority regarding trade 'with London, was that New Zealand should agree to limit quotas promptly thus curtailing European imports i,aimedUte.'-y. Increased prices would more than compensate, and ensure a better market for Dominion outputs over tlie coming years.. A cablegram received yesterday indicated that tlie' market was weaker. The situation was serious owing to the delay in! the restrictions. Another cablegram stated that the British Government was .tied by the Ottawa and existing foreign treaties and agreements, and was unable to go further than their present offer of a six per cent, restriction from New Zealand and Australia, and twelve per cent. On

foreign. The Hon. G. W. Forbes and J. G. Coates p.-re absent from Wellington. The London cable was referred to the Minister of Agriculture (the Hon. C. E. Macmillan), who declined to make any comment. • t*' "