BUTTER FOR AMERICA.

Auckland Star, Volume LIV, Issue 287, 1 December 1923, Page 6

BUTTER FOR AMERICA.

810 PURCHASE ANNOUNCED. (By Telegraph.—Special to "Star.") WELLINGTON, this day. There has been sold to America for a quarter of a million sterling a shipment direct to Xew York, via Vancouver and via San Francisco. 60,000 boxes of Xew Zealand butter shipped during last month and this. The price, for purposes of valuation of this great order, may be taken at equal to 1/6 per* pound free on board port of shipment, or a total of, say, £250,000. The butter will bear a duty of 8 cents a pound, or 4d» at the par rate of 4.86 dollars to the £ sterling, but at the present rate of exchange, say, 4.36, this duty will be equal to about 5d in English" money. In any case the butter cannot be sold wholesale at under 2/2 per pound, and it is quite conceivable that it is retailing at the equivalent of 2/6 a pound. The present low rate of sterling in New York favours American buying in- the Dominion. The latest mail advices from New York give the wholesale price of creamery butter, grading 02 points, at 48 cents or 2/ a pound at the par of exchange.