NUTS FOR CHRISTMAS

Otago Daily Times, Issue 26633, 2 December 1947, Page 5

NUTS FOR CHRISTMAS

HIGH PRICES AT AUCTIONS FOOD MINISTRY’S GOOD DEAL N.Z.P.A. Special Correspondent LONDON, Nov. 30. Two recent auctions of stocks of nuts held by the Food Ministry have, it is estimated, returned a profit of over £1,000,000. Two thousand tons of walnuts and filberts auctioned on Monday brought £300,000 profit to the Ministry, and 1800 tons of Brazil nuts and walnuts sold on Thursday brought a further profit over £700,000. Owing to the fact that no other supplies are . available, record high prices were paid by dealers who are laying in stocks of nuts for Christmas. Brazil nuts, which have been unobtainable in 'Britain for several years, are expected to retail at 8s to 9s a pound, compared with Is a pound before the war. Walnuts, which cost 8d a pound before the war, will probably cost over 7s a pound this Christmas. The action of the Ministry in holding stocks and then offering limited supplies at auction is being strongly criticised by retailers who contend that it pushed prices up out of all reason.

At a press conference to-day the Food Minister, Mr John Strachey, defended the Ministry’s policy, claiming that the profit made by the Ministry might well have been made and held by the trade. Currency difficulties had prevented the issue of general import licences to private dealers.