THE BUTTER MARKET.

Taranaki Daily News, 19 December 1921, Page 4

THE BUTTER MARKET.

SERIOUS POSITION AT HOME. LARGE SURPLUS STOCKS. By Telegraph.—Press Assn.—Copyright. Received Dec. 18, 5.5 p.m. London, Dec. 16. The Australian and New Zealand High Commissioners and Trade Commissioners conferred with reference to butter conditions, which are going from bad to worse daily, largely attributable to the existence of 800,000 boxes of surplus controlled Australasian butter in Government stores. Each attempt to reduce stocks produces a further slump. It is reported the Government is considering a private firm's offer to purchase the whole of the stocks. Traders believe this ought to have been done a year ago, and they now fear a repetition of the experience following the sale of Government stocks of meat. It is anticipated Australia and New Zealand will make pointed to the Government next week. —Aus.-N.Z. Cable Assn. London, Dec. IG. The Australian and New Zealand butter trade is faced with a crisis, the result of the British decision to dispose of accumulated stocks. It is suggested that Australia and New Zealand should retain supplies in their own stores until the stocks are realised.

Mr. Hughes end Mr. Massey have been cabled regarding the suggestion in Mr. Massey’s complaint that meat has been carried on the top of butter, resulting in delay in unloading. This, it is stated, is only part of the cause. Actually there is so much butter in the stores that it is preferable to keep the stuff aboard ship until the latest possible date.

Sir James Allen states that when Vestey’s bought their meat the understanding was that they were going to- sell the bulk of it on the Continent, but they failed to do so, thus adding to the congestion here.—United Service.