DEBACLE FEARED.
OPINIONS PROM LONDON.
(By Telegraph.—Press Association.)
WELLINGTON, this day.
A member of a large exporting firm stated that there was every prospect of advances made on butterfat being reduced to 4d and 5d a lb, as compared with 6d and 7d, as paid out on the 20th inst. Cablegrams received as far back as March 22 indicated that unless the quota was arranged promptly there was fear of a debacle.
The opinion of the majority of the trade in London, he said, was that New Zealand • should agree to limit quotas promptly, thus curtailing European imports immediately. Increased prices would more than compensate, and ensure a better market for Dominion outputs over the coming years. A cablegram received yesterday indicated that the market was weaker. The situation was seriou-, owing to the delay in restrictions. Another cablegram stated that the British Government was tied by Ottawa and existing foreign treaties and agreements, and was unable to go further than the present offer of per cent restriction from New Zealand and Australia and 12 p, r cent foreign. The Minister of Agriculture, the Hon. C. E. Macmillan, declined to make any comment. •
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Bibliographic details
Auckland Star, Volume LXIV, Issue 74, 29 March 1933, Page 7
Word Count
193DEBACLE FEARED. Auckland Star, Volume LXIV, Issue 74, 29 March 1933, Page 7
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