EXPORT TRADE

Ashburton Guardian, Volume 54, Issue 95, 1 February 1934, Page 3

EXPORT TRADE

COMMODITY PRICES. CHANCE FOR THE BETTER. \ (Per Press Association). . FEILDING, Jan. 81. Speaking at the opening of the Feiiding A. and P. Show, the Hon. J. G. Cobbe,'Minister of Justice, gave an interesting explanation of the present extent of New Zealand's export trade and the prices her commodities were bringing. Quoting from figures specially prepared by the Government Statistician the Minister showed how the Dominion's trade had changed for the better within the last few months. "The preliminary trade statistics for 1933," said Mr Cobbe, "reveal an excess of commodity exports amounting to £15,425,000 in New Zealand currency, equal to £12,340,000 on a sterling'basis. With the rising tide in our trading there was a brighter outlook and greater confidence. The value in New Zealand currency of exported produce was £41,005,919, an increase of £5,396,000 over the 1932 value. Expressed in sterling, the value ot exports in 1933 totalled £32,805,000, an increase of £4,320,000 over the total for the previous year. The quantities of the main primary products exported during 1933 were .higher than in the preceding year, the aggregate value of, the exports being slighty higher in sterling, and considerably higher in New Zealand currency than in the previous year.'' , Referring to the recent marked advance in wool prices the Minister said that those prices corresponded with the slack exporting period of the calendar year, so that the effect of the increase had not fully reflected itself in -the value of exports during the year. The trade returns for December, however, revealed a considerable increase as compared with the corresponding month in the year 1931-32. Owing to a mild winter and the early spring growth of pastures, the quantities of butter, beef, mutton and lamb exported during December, 1933, were higher' tflan was normal iii December. While the increase in wool prices was reflected in a marked increase in the value of the exports, the quantity ot the exports of that commodity during December declined. The value of the 56,604 bales of wool exported m December, 1933, was £761,343, whereas the 60,671 bales shipped in December, 1932, were valued at only £444,286. The marked recovery in wool prices at present in progress must have a very potent influence in promoting industrial revival in the Dominion. . An icrease of Id a lb meant an addition to the return from wool production of £1,000,000 on the season's production. It was obvious, therefore, that the increase shown in the prices realised at the avool sales held so far in the present season, if maintained throughout the season, must result in a considerable increase- over last season's returns, notwithstanding an estimated decrease of'2 per cent, in the quantity of this season's production as compared with the record production ot 288.4 million lb last season. Dealing with frozen meat on the London -market had improved in recent weeks, an improvement which, in view of the greatly reduced world flocks.of sheep, it was reasonable to hope would be maintained. Overseas market prices for our other important export commodities, butter and cheese, still remained distressingly low, but, added Mr Cobbe, the butter trade would assuredly regain its position.