PRICE OF BUTTER.

Taranaki Daily News, Volume LVII, Issue 261, 14 April 1915, Page 4

PRICE OF BUTTER.

SOARING HIGH. RESULT OF AUSTRALIAN SCARCITY By Telegraph—Press Association. Auckland, Last Night. The shortage of supplies of butter in New South Wales and Victoria owing to the drought has created a brisk demand for supplies from New Zealand and other outside sources. As a result the value of butter has been increased, and the dairy produce committee has <Je- ; cided to advance the local wholesale price from 12d to Is 3]d per lb from to- ' morrow. i (hiring the past few days parcels of i first grade butter have been purchased ' for shipment to Australia at rates con- i siderably higher than the export value ' fixed by the London rates. A shipment ■ of 1300 boxes was made by the Riverh'a to-day, its value being'estimated at 1

Is 3d j)or II) f.0.1). i Representatives of tin- loadint; ,lai:v | companies slate that the local price mm- : fixed for standard brands is hardly on s ii parity witli tli*. export value, as (he I cost of mouldiii" into pats and of lis- ". tribution is considerably more than id 1 per pound. The present price is the • highest fixed this season, the highest I l)revionsly havinjv been Is 2,|d from < .January '22 nd to March 2nd. when values 1 in London were exceptionally advanced, a The retail price will probably be rencd i from Is 2d to Is .ul. ' 1 Tin. demand from Australia will pro- t bably be an important factor in the a dairy produce trade dmiinj the remaind- s or of the season. The recent rains ? {.rrcatly improved the Australian pastuvs 1 but they came 100 bite to compensate !" for tbe slun-tajfo of the production diir- i iiif; the dry period. Merchants respon- 1 sible for the local wholesale supply and t who have to store quantities lor 1 (he local winter requirements, w ;u now S have to meet (he competition of A'];- r tralian buyers as well as of the demand r from London. Further advances in the n local prices therefore seem likely. I