SALES OF SKIM MILK

Press, Volume XCVIII, Issue 28887, 6 May 1959, Page 19

SALES OF SKIM MILK

Effect Of U.S. Action On N.Z. Exports (Special Correspondent N.Z.P.A.) LONDON, May 4. The recent action of the United States in cutting the price at which American firms were permitted to sell surplus stocks of skim milk powder abroad was seriously interrupting New Zealand’s trade in a number of established markets, according to Mr R. A. Candy, chairman of the New Zealand Dairy Products Marketing Commission.

The United States was offering the product at 7 cents per lb, or less than half what it cost the American. taxpayers to buy the powder from American . producers, he said. In January when the United States was contemplating reducing the export price from a level just over 9 cents he and Mr D. W. Woodward, New Zealand Commercial Counsellor in Washington, had made strong representations to senior officials of the Department of State and the United States Department of Agriculture.

The United States was performing a humanitarian action in giving large quantities of skim milk powder to countries which could not afford to pay for it, Mr Candy added; but in offering it at cut prices to countries which could afford to pay a proper price the United States was harming the vital interests of countries which, like New Zealand, depended for their livelihood on fair trading in agricultural products.

LONDON METALS EXCHANGE (N.Z. Press Association—Copyright) LONDON, May 4.

COLOMBO TEA SALES (N.Z Press Association—Copyright) COLOMBO, May 4. There was very strong demand at dearer rates for the 4.5 m lb of tea on offer at today’s sales.

In spite of a decline in quality, high-grown and medium brokens generally advanced 10 to 20 cents per lb, while low-grown teas were about 3 to 5 cents per lb dearer.

Quotations: —High-grown broken orange pekoe, 335 cents per lb; good medium broken orange pekoe, 230; medium liquoring broken orange pekoe, 202; medium liquoring broken pekoe, 127; medium liquoring pekoe fannings, 240; medium liquoring orange pekoe, 178; low medium broken orange pekoe, 180; low medium pekoe fannings, 227; low medium orange pekoe, 166; IoW medium pekoe, 175.

Latest London metal prices are:— Buyers Sellers per ton per ton £ s. d. £ ». d TinSpot .. 783 0 0 783 10 0 Forward .. 783 10 0 784 0 0 LeadSpot .. 70 0 0 70 10 0 Forward •• 71 0 0 71 5 0 ZincSpot .. 74 10 0 75 0 0 Forward .. 74 5 0 74 10 0 CopperSpot .. 232 5 0 232 10 0 Forward .. 233 15 0 234 0 0