BUTTER UP £20 A TON

Press, Volume CXI, Issue 32587, 22 April 1971, Page 2

BUTTER UP £20 A TON

(New Zealand Press Association) WELLINGTON, April 21. The price of New Zealand butter on the United Kingdom market was increased today by £2O a ton to £370 a ton ex store.

The chairman of the Dairy Board (Mr F. L. Onion) said that this was the fourth increase in the last 10 months. It made the price the highest since January, 1960.

The retail prices of New Zealand butter on the British market are now between 17.5 p and 22p.

Mr Onion said that the upward price trend was the result of a world shortage of butter. Cold store stocks in the United Kingdom were about 30,000 tons below the level of 12 months ago, and the United Kingdom had been endeavouring to secure supplementary supplies from Europe.

European stocks, however, were at bare working levels, and additional supplies for the British market were not likely to become freely-available until near the flush of European production.

Reports were coming in that the higher retail prices in Britain were causing a fall in consumption.

Mr Onion said the Dairy Board was making every effort to maintain essential supplies to the British market It was not possible, however, for New Zealand to make up for the shortages in supplies from other countries.

The future trend of the market would depend on Britain’s ability to secure early delivery of additional supplies of butter, he said.

The Minister of Overseas Trade (Mr Marshall) had no comment to make today on the increased butter price. He said this was a matter for the Dairy Board.