BUTTER PRICES

Franklin Times, Volume XXVII, Issue 140, 30 November 1938, Page 2

BUTTER PRICES

i THE LOCAL MARKET i MINISTER AWAITS DATA STOCKS HELD IN COOL STORE The Government has not yet made j any decision about bringing the internal price for butter into conformity with the higher guaranteed price now | operating for export butter. This j was stated by the Minister of Finance, ! the Hon. W. Nash, in Christchurch. Mr Nash was asked whether, in view of the anxiety of grocers and dealers ! at the delay in announcing the new internal price, he could give any indication of the intentions of the Government. “All I can say is this," he replied. “We are waiting the completion of the task of gathering in all the information about the amount of butter being held in cool storage. As soon as that information is available we will determine what is to be done about the internal price. It is im-

possible at the moment, of course, to say what action will he taken.” It. was stated that not very much butter had been stored in the South Island, hut that fairly big consignments had been placed in North Island cool stores. It was generally believed in the industry that no announcement of an increase in the internal price would be made until the Government operating regulations provided for the purpose had compelled the sale of all excess stored butter. The delay in making a decision by the Government had given occasion for one suggestion commonly made by grocers and dealers that the Government might be considering allowing the price to remain at the present level, the difference to be met out of the Consolidated Fund or Dairy Industry Account, but it is stated on high authority that this is not at all likely. Assuming that the increase would be one penny a pound to the consumer, on the basis of the latest available butter consumption figures, such policy would cost the Consolidated Fund or the Dairy Industry Account more than £256,000.