MARKETS IN THE EAST.

Press, Volume LXIX, Issue 20906, 13 July 1933, Page 11

MARKETS IN THE EAST.

DOMINION EXPORTS

EXPLOITING NEW FIELDS. The need for opening up markets in the East for the sale of New Zealand primary produce was emphasised by Mr D. W. Westenra at a meeting of the general committee 01 the Canterbury Agricultural and Pastoral Association yesterday. He said that the Dominion would have to look further afield in view of Great Britain's croased activity in primary production, and it was decided to press the Meat Board to enquire into the possibility of extending trade to the East. Mr Westenra said that England had been more or less asleep in agricultural and pastoral matters for some time, but she was now taking a livelier interest, and this would mean that New Zealand's market might be affected in Great Britain. This country would consequently have to look for new markets. China could absorb a substantial proportion of our produce provided the exporting interests tackled the question in a business-like manner. There was a population of about 800,000,000 in the East, and this included a large section which would buy New Zealand's exports. The Canterbury representatives would soon be attending a meeting of the Meat Board in Wellington, and he would like them to have the question of opening up markets in the East discussed by the Meat and Dairy Boards, to see what could be done. Markets could not be opened up from New Zealand, and a man with a knowledge of Eastern conditions would have to go there to negotiate. It was high time the Dominion awoke to the fact that it had to look for new markets. Japan, it was thought, could take much of our produce, but she would probably want liberal reciprocal treatment which might mean the dumping of cheap Japanese goods on the New Zealand market to the detriment of Great Britain. Mr W. 11. Nicholson said that the question was worth considering. It was stated that there were 75,000,000 persons on the China coast capable of buying New Zealand produce. A new market could not be opened up in a day and the whole question would have to be investigated thoroughly. The produce boards would be in a position to do this work. It was decided to refer the question to the Canterbury representatives on the Meat Board with a view to having the question raised. WOOL COUNCIL. OBJECTS EXPLAINED TO FARMERS. ASSURANCE OF SYMPATHY. (T8F.53 ASSOCIATION TELC.IKAU.) WELLINGTON, July 12. The aims of the proposed wool council were outlined to the Pominion conference of the New Zealand Farmers' Union to-night by members of the provisional council. Professor G. S. Peren, principal of Massey College, said that some persons were afraid that the levy would be used to classify rams for breeders, a job that they should do for themselves. There were also fears that the scheme would interfere with breeders, but the intention was to eliminate rams at the bottom of the list. It was only intended to ban rank faults. A. jour* nal which it proposed to ia aue would hand on most valuable information. South Africa had a levy of Is a bale on wool and had a very fine organisation.

Major McDonnell, southern Hawke's Bay, said that farmers in his district were afraid that Romney breeders would dominate the council, and he was certain that unless this impression was removed the Wool Council Bill would never get through the House. The Me<4t Board had £96,000 in hand, and it was thought that the Wool Council should go to the Meat Board for funds. Mr Hammond said a pub-committee which had been set UP to confer with the Wool Council recommended that the Farmers' Union should place its organisation at the disposal of the Wool Council. Meetings should be held at which full of the scheme could be explained. Mr J. E. Benson (Poverty Bay) said that what they were afraid of was that legislation would be introduced to enable the Wool Council to raise £4500 from wool growers. Mr H. B. Stqckey said that th£ benefits would be so great that farmers would soon not grudge ?s a bale. Mr H. Morrison (Wairarapa) saici that if the Wool Council could get shipping freights down it would justify its existence. The president (Mr W. J. Poison, M.P.) said the Wool Council could be assured of the sympathy of the union in its endeavour to improve Dominion flocks. LONDON WOOL SALES. DEMAND WELL SUSTAINED. FULL RECENT RATES. LONDON. July 11. At the wool sales 12,181 bales were offered, including 6066 from New Zealand, about 8217 being gold. The demand was well sustained, and a ready clearance was made. Home and Continental buyers participating at full recent rates. Prices for New Zealand lots were:— Scoured merinos. New Zealand, Otamatapaio, top price 25id. average 24d. Greasy crossbred, Brancepeth, 13id top, Bid average. BRITISH TOBACCO CO. British Tobacco Co. (Australia), Ltd has declared a dividend on preference shares for the quarter ending July 1 at the rate of 61 per cent, per annum. The dividend is payable on July 31, subject to a deduction of 10 per cent, for Commonwealth property income tax. metals market. LONDON, July 11. Quotations:- 1 , A ton. A ton. C Electrolytic - . 42 5 0 42 J5 0 Wire bars ■ ■ 43 0 ~7L American electrolytic: 9 cents per lb. Lei " i_ . 11! 12 fi HI « n £Cw.rd "17 « 13 12 G Spelter— j.s 11 17 17 « Sard •• 18 8 9 1716 3 Tin ~ .. 215 17 o 211 la d ..="5" « 2" 7 6 Fine, per oz. 13 5-lbd l^d.