FOREIGN NEWS.

Putaruru Press, 2 June 1926, Page 7

FOREIGN NEWS.

ASSISTING RUSSIA. Tooley Street Finance. Exports of butter from Russia during the coming season beginning in June on contracts already made may amount to 90,000,000 pounds or about one-half of the volume exported dur- • ing the years immediately preceding j the war, according to a recent report to the Department of Agriculture from j the American Agricultural Commis--1 -sinner of Berlin. Contrary to wifiely ! published rumours, however, little or none of the butter now undfer contract is destined for the United States. In addition to making it clear that for the present large exports of dairy and poultry products from Russia to the United States were cut of thie ques- ! tion. Mr Schoenfeld quotes C. J. ! Meyer, American Commercial Attache at Riga, Latvia, as to the disposition of | the products now und;er contract. Ex- | isting contracts are said to cover prac- | tically all of the expected expert butJ ter output. Exports from pres ,\i Uusj sian territory in 1925 have been estimated at 55 million pounds. “English firms have already contracted for 550,000-600.000 casks (62,000,000-68,000,000 pounds) of butter through the Russian agencies. “Malslocenter” and “Gostorg.” Several contracting firms have .advanced about ; 5 cents per pound on the contract price lat the time of ordering. Thdse firttns also agreed to pay from 70 to 75 per cent, of the contract price when the I butter is on board cars and the bills j presentatives in Moscow. Total ad- | vanees therefore reach 90 per cent, of j the London market value of the butter iat the time of the second advance, j German firms have also contracted with the “Malslocenfier” for 100,000 J casks (11,000,000 pounds). The estimated remaining 150,000-200,000 casks j (17,000,000-20,000,000 pounds) is kept j free by the Russians for trading some time later in the season. The export jof butter, or course, occurs only in j Jube, July, August and .September, i There is no butter to speak of left in Russia or Siberia at this time of year, and what little remains is being used by the country itself. Pre-war exports of butter amounted to about