BUTTER MARKET FIRM, CONSIDERS DAIRY CHAIRMAN

Bay of Plenty Beacon, Volume 15, Issue 87, 25 August 1950, Page 5

BUTTER MARKET FIRM, CONSIDERS DAIRY CHAIRMAN

The world production position led him to believe that a buyers’ market for dairy produce had not yet been reached, especially for butter, said the chairman of directors, Mr S. C. Spence, at the annual meeting of shareholders of the Rangitaiki Plains Co-operative Dafry Company Ltd. yesterday. Generosity which had led New Zealand to accept lower prices for butter might have been temporarily forgotten and bargaining might be harder. It might be felt that the huge stock of butter in the United States represented a danger but this stock pile was not so large that it would not be bought up by the American public if retail prices were reduced.

In April, the British butter ration had been increased and the retail price had been increased. The whole ration, at the high price, had been taken up. Though margarine was cheaper, it had not been bought up, indicating that the butter market in Britain was not saturated.

Last season, Australia and New Zealand had lifted butter rationing and they might not, in future, export as much as before. Denmark’s currency had been devalued, and she was not happy about the price received. Generally, it appeared that the British market for butter was still satisfactory.