BUTTER MARKET,

Taranaki Daily News, 31 January 1921, Page 5

BUTTER MARKET,

DECLINE AT HOME SUPPLY EXCEEDS DEMAND. FURTHER FALL EXPECTED. By Telegraph.—Press Assn.—Copyright. London, Jan. 28. A further step in the 4©cline of butter prices is anticipated after de-con-trol. The Ministry’s’ stocks arc mounting rapidly. It is generally estimated that the stock at the end of March will be about 30,990 tons, to which must be added part of the February and all the March shipments. So it appears likely the Ministry will have about 40,000 tons over the summer. In the meantime supplies greatly exceed demand. Owing to the almost entire cessation of buying by Germany, Scandinavia and other European countries, practically the whole of the Danish output is available for Great Britain,, to which country imports from Denmark have quadrupled reaching thousands of tons weekly instead of 500 tons fortnightly. .It is anticipated that supplies will be greatly increased after March, when the English and Irish makes will also be in full swing, so the Ministry will have little chance of reducing stocks. The decline in copra and oil seeds has caused a lowering of margarine prices and it is now retailing at eleven pence to a shilling per pound. Many people predict that butter will retail at two shillings before many months, so it appears likely that New Zealand and Australian producers will be faced with a comparatively low basis of values when the new season opens.—Aus.-N.Z. Cable Assn. By Telegraph.—Press Association. Wellington, Jan. 29. A cablegram from the High Commissioner says:—Government prices for butter are not yet lowered, though a reduction of 4d per lb retail will be made on February 7. Supplies generally are good and the tendency is toward lowfer prices. ■ • ■ ■