LOCAL BUTTER PRICE
REDUCTION LIKELY
(By Telegraph.—Press Association.)
AUCKLAND, August 4. A reduction of probably Id a pound in the local price of butter is considered likely following the announcement of the basic value of buttpr for export at 117s per cwt; which is lower than the ruling rate in London. New Zealand butter on the London' market is, now selling at 116s per cwt for choicest salted. The equivalent f.o.b. Value in, New Zealand is 13.79 d; a pound/which compares with the basic guaranteed price of 12.56 d. .-.••'■.'
As it is not known whether the Government intends to regulate prices as well as fixing distribution and retailing, merchants are reluctant to announce any local value. The position is made more doubtful by a lack of any definite information as to the margin of profit to be. allowed and the extent of any regulations to be enforced. It is expected that advice regarding these matters will be released shortly by ,the Primary Products Marketing Department.
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Bibliographic details
Evening Post, Volume CXXII, Issue 31, 5 August 1936, Page 8
Word Count
165LOCAL BUTTER PRICE Evening Post, Volume CXXII, Issue 31, 5 August 1936, Page 8
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