SURPLUS BUTTER.

Taranaki Daily News, 21 December 1921, Page 4

SURPLUS BUTTER.

QUESTION OF ITS DISPOSAL. PRICE NOT ACCEPTABLE. (By Wire.— Parliamentary Reporter.) Wellington, Last Night. The Prime Minister stated in the Hoose on Monday that he had received portant communication from the I-igh Commissioner regarding the butter tu^ r " ket. He did not state the contents of the message, but he mentioned that 870,000 boxes of New Zealand and Australian butter were in store in Britain, and that the Imperial authorities were considering a proposal to sell this butter to mere. ants. He indicated that the proposal was not to the advantage of New Zealand. It is stated on good authority that the prices that have been mentioned by the Imperial authorities are in the neighborhood of 84s per cwt. for Australian butter and 100 s for New Zealand butter. The New Zealand Government and the Australian Government are both making representations to the Imperial authorities on the subject, since the sale of the huge accumulation of butter at these prices would have a very depressing effect upon the market. ACTION BY FEDERAL MINISTRY. By Telegraph.—Press Assn.—Copyright. Melbourne, Dec. 20. Negotiations are proceeding between the Federal Ministry and the Imperial authorities regarding the decision of the latter to clear the balance of Australasian stocks of butter held in England. The object of the negotiation. 4 is to prevent a further slump in the market.

The Minister of Customs, as a result of consultation with the butter interest?., cabled asking the Imperial authorities to defer the sale of supplies of surplus stocks until early in the New Year, also asking for further details, with a view to t‘he curtailment-of shipments during January, February and March. Besides the Australian interests, the mover.? in the matter are in touch ■with New Zealand, producers.