Price Cuts Considered

Press, Volume CII, Issue 30168, 27 June 1963, Page 12

Price Cuts Considered

Big. users of sugar in Christchurch welcomed yesterday's announcement of the Government plan to stabilise the price of sugar at lOd per lb retail. One cancelled planned price increases and others are "taking another look" kt their cost structures “We had issued a list of prices that were to go up from yesterday.” said Mr R. G. Pearce, joint managing director of Aulsebrook and Company, Ltd “But we’ve cancelled that and we’re back to our May price list. From the point of view of a large sugar user, this was an excellent move to stabilise sugar prices in the industry ”

Mr E. R Adams of Ernest Adams Ltd., cake manufacturers. said his firm was going into the matter very carefully to seie if any price reductions Could be made.

The firm had increased most prices on June 10, but that had been related to overall costs, of which sugar was only one When the sugar price went up another 3d per lb only a week later they decided to wait and see if it would come down..and now the government’s action had brought it down The firm’s •increases absorbed four or five sugar price increases before the last ope

“It is very reassuring to ■have sugar prices stabilised." said Mr Adams. The managing director of another firm said sugar price rises before the last big one <ot 3d per lb) had built up to a big factor in the last 12 months Prices had been put up about three weeks ago to cover those rises ” The stabilisation plan had the effect of kilbne the last sugar price rise and a little more besides, so that although the firm's Drice rise ■had been verv slight, it could be that a price reduction would now be made. •

Dr. L. K. Whitten, head of the parasitology section at Wadlaceviiie Animal Research Station, will represent New Zealand at toe international veterinary conference in Hanover, West Germany.—(P.A.)