DAIRY PRODUCE

Bay of Plenty Times, Volume LX, Issue 11047, 22 February 1933, Page 1

DAIRY PRODUCE

POSITION IN LONDON,

The butter position In London has not improved. Consumption remains as good as might be expected when best Australian and New Zealand butters are being retailed at lOd a lb. and even less in some quarters. But even this brisk consumption is not sufficient |o absorb the available supplies, and stocks here are now estimated at aout 20,000 tons. As one leading firm reports: "With the production in Australia and New Zealand running well ahead of last year, buyers feel there is no need to worry about the future. Owing to restricted quotas and high tariffs on the Continent, consumption is very bad, especially in Germany, so there is practically no export trade from our market.” The question of a reduction of imports of butter is attracting much attention, and many traders consider such action desirable. Their view is expressed by “Commisison Agent,” writing in a trade newspaper, who says: “There appears to be only one solution , for the: present low prices. If Denmark would reduce her manufacture by 10 per cent, and cease shipping surplus quantities which are hot required by the English market, prices would certainly be 10s to 15s a cwt. higher. The same remark applies to the Dominions.” Messrs Joseph Nathan and Company, Limited, has received the following cablegram from Trengrouso and Nathan, Limited:—Butter: 75s to 765, Cheese: White, 44s 6d; coloured, 525. Both markets are slow.