Butter Prices Move Upwards In Britain

Press, Volume XCIX, Issue 29237, 22 June 1960, Page 15

Butter Prices Move Upwards In Britain

(Rec. 10 p.m.) LONDON, June 21. The British butter market is on the move again —upwards; but it is not expected to be a spectacular move.

The rise follows last week’s Danish decision to increase the Danish price by 10s per cwt to 302 s per cwt (landed in Britain). This rise reflects the fact that Danish spring production has now passed the peak and that the demand for Danish butter has increased. The Danes’ decision caused the Swedes. Norwegians and Finns to raise their price on the British market by a similar amount and yesterday New Zealand and Australia followed suit —New Zealand by 10s to 300 s per cwt and Australia by Ils to 298 s per cwt. The only country not to put up the price was Holland. whose butter is selling at 292 s per cwt. The Dutch, however, have increased their exports to Britain from about 150 tons a week to 1100 tons and also cut their home price by 100 s per cwt. The Dutch have stocks totalling some 19.000 tons, which they are trying to reduce. They remain a question mark for the British market and the future trend of prices.

Tooley street reports indicate

there has recently been improved butter consumption and “very good” trade for New Zealand supplies. The increase to 300 s per cwt means the retail price will be 3s Id per lb in the large multiple stores. Since this is an “awkward” figure for grocers, and in view of better consumption, there is speculation whether a further increase to 310 s per cwt and 3s 2d per lb may not be long delayed. Much will depend on the action of the Danes and Dutch.

The chairman of the Dairy Products Marketing Commission Mr R. A Candy, said in Wellington that the rise in the price; of New Zealand, Australian anc Danish butter in the Unitec Kingdom were a reflection of a change in outlook in the trade This had arisen from two main factors, one relating to supply and the other to demand. Dry weather in recent weeks in Eastern Europe and Denmark had cut production in those countries and meanwhile demand in Britain had been gradually rising. *