SPECULATION IN TRADE

Evening Post, Volume CVIII, Issue 55, 2 September 1924, Page 6

SPECULATION IN TRADE

Some interesting remarks on speculation in butter and cheese are attributed by the "Daily Mat" tp%. Mr. Grounds, chairman of the New , Zealand Export Control ' Board. That gentleman is reported to \have said that one of the Board's, objects was to deliver . the produce , tq- the British consuming public by more direct channels than those at present existing ' and to eliminate speculation in it/when it arrived in London. These sentiments are in accord with >Mr.\ grounds's views as ©xpress.</d in the Dominion, and fully endorsed by the great majority of the producers. They aye unexceptionable, for undoubtedly the ideal to be aimed at in the passing: of commodities from producer to consumer is the reduction to the barest minimum of costs oE distribution, including handling, transport, selling commissons, and delivery to the final purchaser.- But is it practicable 1 Can "speculative manipulation. — Mr. Ch-ounds's phrase—be suppressed, considering how largely the running of risks «WtM*;S-kto'iiiU.UcJ-üb.usJni^jj uu, £,

large' scale? New Zealand can .hardly hope to impose its 'views upon a market to which the supplies of butter are so varied and so many as that of Great, Britain. Weddel's report for the year ended 30th June last states that supplies of butter to the British market from Imperial sources were but 35 per cent, -of the whole-^-a fall of 10 per cent, on the figures for 1922-23, and 17 per cent, for 1921-22. Supplies from Argentine, Baltic, Siberian, and other foreign sources are growing in volume, and these compete with New Zealand's own product. In its endeavours to give effect to Mr. Grounds's laudable ideals, the New Zealand Dairy Pro- | duce Board will, of course, be impressed by this important fact. It I should, and we believe it will, pro- | ceed with all the tact and caution i that the circumstances- call for ! when representing its views on | speculation to the British provision ! trade. ' " ■