PRIMARY PRODUCE

Press, Volume LXVII, Issue 20342, 15 September 1931, Page 9

PRIMARY PRODUCE

VALUES IN GREAT BRITAIN. STEADY LEVEL MAINTAINED. [Knoll OCK Parliament ART HEPORTEK. j WELLINGTON, September 14. The fact that prices for primary products have steadied on the Home market after a long, continued downward trend, and the possibility of some arrangement governing the exchange rates being made, were mentioned by Mr Adam Hamilton (R., "Wallace) in discussing the possibility of an increase in export prices to-day. Mr Hamilton said that he had made a very careful study of the position, both in the Dominion and overseas, and while he was not prepared to advise anyone regarding the course to bo taken in the marketing of produce, ho was very hopeful of an improvement in the near future. "For the £>ast fow years we have all been apt to think prices havo reached their lowest level and a rise might be expected," he said. "The rise has not yet come and whether wc have reached the lowest lcvol is still a matter for doubt. However, the Home market hus not fallen since last month, and that is a hopeful sign. The prices of our primary products are now 11 per cent below the 1914: levels on the Home markets and 14 per cent, below here. The fall in prices steadied for a time when they were five per cent, below and then resumed their downward treud until they steadied again tjiis month." Mr Hamilton added that many farmers, including dairy factory directors, were finding it difficult to make up their minds regarding what policy they should pursue. They were asking "is it wise tp sell or is it better to consign goods in a hope of a rise in the Homo market ?" These were very difficult questions to answer, and it would be unwise for anyone to give advice. "Although there does npt appear to be any natural sign of the price Jpvpl rising," said Mr Hamilton, "it does appear that efforts are being made both nationally and internationally to raise price levels by various means. In addi" tion, the natural compensating laws of slump conditions may yet have to make themselves felt, and this may in tha near future result in a much more favourable exchange for' exports. The chances are, I believe, in the exporter's favour, and it might be a wise policy to give due weight to the factors I have mentioned. At the same time I want to make it clear I am only expressing my personal opinion without ■wishing to advise exporters regarding the course they should adopt."