NEW MARKETS FOR N.Z. LAMB
Dr. Low’s Suggestion (From Our Own Reporter) WELLINGTON, June 15. New Zealand can afford to divert £lm worth of lamb from the British market where the demand is inelastic, and sell it for £500,000 in alternative markets it wants to develop, according to Dr. H. B. Low, of Massey Agricultural College. Dr. Low was speaking at the industrial development conference when one of the committees was discussing the promotion of primary produce exports. He said that New Zealand was such a large supplier of meat to the United Kingdom that an increase in New Zealand supplies forced down the price of the product Conversely, by reducing the supply. New Zealand could raise the price. “According to my calculations New Zealand could withhold £lm worth of lamb at present prices from the United Kingdom and because of the price rise we would get only £450,000 less," he raid. New Zealand could therefore afford to sell £lm worth of lamb for £500,000 in alternative markets it wanted to develop.
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Press, Volume XCIX, Issue 29232, 16 June 1960, Page 14
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172NEW MARKETS FOR N.Z. LAMB Press, Volume XCIX, Issue 29232, 16 June 1960, Page 14
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