CAUSES A PANIC

Rotorua Morning Post, Volume 3, Issue 704, 2 December 1933, Page 5

CAUSES A PANIC

(Press Assn.-

tooley street disorganised by -increasing * - shipments regulation urged

— By Telegraph — Copyright).

London, : Nov. 30. A panic among the weak traders responsible for the floOd 'of butter Saies in -Tooley S'treet emphasises'that nobody has tha slightest conffdence in the fut-ure. • .... . rt is pointed out that butter has fal-len to the low levels of last winter wheri shipments were lighter than at present.' The* slightly-increased demand 'fails to balance heavy arrivals. " 'Multiple "Stores, Co-operative Societies and MaSs' Caterers, ' who are among the largest purchasers, are holding bff in expectation of even lower prices. " ' ' ' " *'" : Im'porters on the contrary ' are anxious to clear 'stocks 'imihediately and make room for * further heavy consignments. *•" ' A well-known company says they are unable to raise the" p'rice, and it is up to Australia to regulate shipments. » Tooley Street will be delighted if the Australian Export Board's meeting on Deeember 5 is successful. The market' view, however,- is that the -chances -of Australian and New Zealand co-operation - are most slender in view of New Zealand's declaration that she will be unable to restrict shipments. Danish butter continues to command a heavy premium owing to the persistent North England preference therefor. • '