CANADA ACTS.

Auckland Star, Volume LXIV, Issue 85, 11 April 1933, Page 7

CANADA ACTS.

DUMPING DUTY.

AGAINST N.Z. BUTTER.

Importers' Alternatives for

Disposal.

WAYS OP EVADING IMPOST.

(United P.A.—Electric Telegraph—Copyright)

(Received 10 a.m.)

OTTAWA, April 10.

Dumping duty against New Zealand butter held in bond in Vancouver will be levied on the same basis as the dumping duty against goods from the United Kingdom is levied.

This is the difference between the fixed value of the pound sterling, at 4.25 dollars, and the average actual exchange rate of sterling on the world market, which is in the neighbourhood of 4.12 dollars.

As New Zealand currency is lower than sterling the dumping duty against the butter is correspondingly higher. It is estimated here that the amount is approximately 3J cents per lb. This impost is in addition to the regular five cents per lb duty. About 250 tons are in bond.

Vancouver importers of the butter are undecided regarding the dumping duty. The shortage at Montreal may permit shipment there. The alternative is to hold the butter and sell it as ships' stores, in which case they would pay neither duty nor dumping charge. There are 7050 561b boxes in storage.

The wholesale price of Canadian advanced a cent to-day.