BRIGHT SPOTS IN NEW ZEALAND TRADE

Dominion, Volume 28, Issue 113, 6 February 1935, Page 8

BRIGHT SPOTS IN NEW ZEALAND TRADE

Business Man’s Summary ENCOURAGING FACTORS OVERSEAS “The English market immediately responds to any outside movement, and from information 1 have gathered I want to show you some recent bright spots in New Zealand trade,” said Mr. J. T. Martin to the executive of the Wellington Chamber of Commerce at its meeting last night. •He outlined a few important transactions that have taken place in New Zealand trade in the last few months.

“There have been very dry conditions through a great part of the Northern Hemisphere—the United Kingdom, the Continent and the United States," Mr. Martin said. “3?he result of that is a very heavy demand from those-places for products in the Southern Hemisphere, and New Zealand has shared in that very largely. We have been doing "business on lines something off the beaten track.

“It is very difficult to deal with Germany,” he continued. “Business men in London know they can send New Zealand commodities into Germany, but the difficulty is to obtain the necessary letters of credit. However, the English merchants, with their customary courage and resource, have stepped in and bought products in this country with the idea that, after landing them in England, they might be able to make some arrangement with Germany for disposing of them in that country. As a result heavy sales have been made here of rye, fescue and other grasses.

“This has given a regular fillip to New Zealand trade, and it has practically cleaned out the stocks. London has not yet lost its enterprise, courage and determination, in dealing with the world’s markets. A few months ago there was a large surplus of oats here, and within a short time they were cleared up. “You will have noticed that lately there has been a betterment in the prices of dairy products. Now, purchases at IOJd. f.o.b. are being made of New Zealand butter for shipment to Great Britain. The present shipments of butter will meet a wonderful market there. A factor in this is that America recently has bought several hundreds of tons of butter in the United Kingdom; and now it is turning its attention to Australia and New Zealand. “The cheese market has had a firming tendency, and there have been very heavy sales 'in London. “The dairy industry for the first time in a very long period is getting into a better position. It will have a fine and encouraging effect in the industry and elsewhere. As you know, there is no other community that circulates money so much as the dairy farmers, and through that factor the whole country quickly feels the benefit of better conditions among them.”