AN EASTERN MARKET

Evening Star, Issue 21170, 2 August 1932, Page 9

AN EASTERN MARKET

H.Z. MANUFACTURERS' HANDICAP TOO LENGTHY FINANCIAL ACCOMMODATION DEMANDED ~ EXCHANGE OBSTACLES [Pee United Pkess Association.] AUCKLAND, August 2. While in agreement with tne Hon. R. Masters that the Orient, as a market for New Zealand’s primary produce and manufactured goods, is capable of development, Auckland exporters point to the practical difficulties. These are summarised under the headings of shipping facilities, financial accommodation, and the exchange situation. One said that at present exchange rates such products as canned meat had no chance of competing with Australia and the Argentine. Australia also had the benefit of a huge exchange premium. Another pointed to the difficulty of high freights arising from transhipments at Sydney; and a third to lack of refrigerated space. The latter said it had been found that Eastern importers want ninety to 100 days’ terms, which no New Zealand firm, was able to give. The President of the Manufacturers’ Association, Mr S. Takle, said a direct shipping service would overcome the handicap of distance. There appeared possibilities in lines which were small in bulk and high in value. He and others supported the idea that New Zealand be represented at the Hongkong Exhibition in November.

[The Minister’s statement was that New Zealand’s share in the Orient market was negligible, and he stressed the importance of obtaining a greater share. “ The position,” he said, “of the British market, to which we sent 88 per cent, of our produce last year, is well known, and with increasing competition from the Argentine, Denmark, and other countries the question is: Can New Zealand afford to stand idle whilst other countries grasp the opportunities now lie to our hand?”]