BUTTER PRICES.

Auckland Star, Issue LI, 24 May 1920, Page 4

BUTTER PRICES.

PBODTjCERS want increase.

For the second time within the last few weeks authorities have come for-

' ward with bints from which one can adjudge that we can look forward to the possibility of higher prices ruling for butter in the near future. More than a fortnight ago one ot these parties stated that after the Government's contract to purchase the Dominion's output of butter would end on July 31 there would be an open I market for the supply, with the result | that at least from 8d to 9d per lb more than the present price would he offered. Now Mr. W. GoodfeUow, managing director of the Waikato Co-operative Dairy Company, states that the'ruling price of 1/8 per lb is an absurdly low figure, about 5d less than the actual cost of production, and only sufficient to give farmers 3 .per cent, on their invested capital To double this percentage to the farmers, and provide for the .current rate of wages, Mr. GoodfeUow says the Dominion price will have to be raised at least 5d per lb, thereby inj creasing the retail price to 2/1 per lb, : and the wholesale to 1/10 per lb. Mr. Goodfellow adds, that in Australia, where a (Labour Government controls prices, the public had to pay , seyenpence more than the New Zealand , price for an inferior article, while in England -the public were recently paying as high as from 4/ to 5/ per lb for the locally-produced article. 1 ■""