THE BUTTER SURPLUS.

Taranaki Daily News, 24 December 1921, Page 5

THE BUTTER SURPLUS.

FORCED SALE DEFERRED. NEW ZEALAND’S WISHES MET. ■ By Telegraph—Press Association. Wellington, Last Night. The Prime Minister’s request to the British Government urging that the sale at a low price of the New Zealand and Australian surplus butter be deferred till New Zealand had been given time to consider fully the effect of the proposal has been acceded to. The High Commissioner cables: “The Board of Trade has agreed to defer forced sale until early next year.” LATEST LONDON REPORT. PRICES STEADILY DECLINE. CHEESE MARICET DULL. By Telegraph.—Press Assn.—copyright. Received Dec. 23, 7.35 p.m. London, Dec. 2?,. The butter marke.t is in an extraordinary position. Although large quantities are being sold, prices steadily decline, and quotations are very irregular. Best Victorian, salted is quoted at 1 ICr to 120 s. unsalted 128 s to 1325: best New Zealand about 150. Government prices are unaltered, but are quite nominal. The principal retailers have arranged next week’s'prices as -follows: New Zealand Is 6d, Australian Is 4d. Negotiations are proceeding between several of the leading importers of Tooley Street and the Australian and New Zealand High Commissioners and Agents-General to improve the position,, and also to persuade the British Government not to accept the recent? offer made by a private firm. This firm is not connected with the butter trade, but previously bought large Government stocks of boots, linen, etc. It is ‘understood Tooley Street offered to purchase the whole of the British Government stocks at 100 s per cwt. for New Zealand and 84s for Australian on condition that Australia and New Zealand should only ship 50 per cent, of their production during the next three months.

The cheese market is very dull. Best colored New Zealand is quoted at 88s to 945, and white at 90s to 94s. —Aus.N.Z. Cable Assn. DETAILS OF THE STOCKS. MESSAGE FROM LONDON. Melbourne, Dee. 23. The butter trade committee appointed to discuss the proposed disposal of the British Government surplus stocks has received a cable -from London stating that the total Australasian stocks are under 840,000 boxes. The Australian is 10 per cent, second grade, and the remainder first; New Zealand 5 per cent, second grade and the remainder first —all last season’s. The purchase conditions are satisfactory and the committee considers a reduction in shipments from January to March is essential if disaster is to be averted.

It is felt the British Government will agree to delay the forced sale till early in the year, to meet the market in rhe interim. It is feared that the British Government will not consent to hand over the stocks to the committee without a definite price being fixed and the colonial Govermhent guarantee assured.