BUTTER EXPORT PROBLEM

Evening Post, Volume CXV, Issue 63, 16 March 1933, Page 10

BUTTER EXPORT PROBLEM

Doubt appears to jriv'est the attitude of Australia' towards limitation of exports of butter to the British market. A"* Press ~Association 'dispatch from Canberra, dated March 14, stated that the Australian Dairy Board had reluctantly agreed to a reduction of exports to the United Kingdom by 6 per cent, for one year, and today cabled'information has been received in Wellington to the effect that the matter of restriction of exports will be finally considered by the Australian Dairy Board at a special sitting to be held next week. Thes whole position of export restriction is as unsatisfactory as it is disturbing to the in■dustry in New Zealand. Meanwhile, London market quotations seem to indicate some move towards curtailed British imports. Within the past few days the wholesale price of New Zealand butter has risen by about 7s to 8s per cwt, from which it may be inferred that restricted British imports are expected, • and the market is.described as "firm." The circumstances of Australia arid New Zealand, however, widely differ. The former^might riot feel a reduction of its exports' .of -/■ butter ,to , Great Britain nearly so acutely as New Zealand, which' has "a,.local market unable to absorb more than about 20 per cent, of its 'production. Australian ( production is heavy but the reduction of its domestic price would no doubt give a considerable impetus to consumption—about Is 2d.to Is 3d per pound is the local retail price in Australian centres, compared with about lOd or lid in corresponding New Zealand districts. The problem is a very difficult arid kgrave one for New Zealand, and its solution is hard to discover.