BUTTER RESTRICTIONS

Greymouth Evening Star, 10 March 1933, Page 7

BUTTER RESTRICTIONS

DEVELOPMENTS IN LONDON

BY CABLE —PBESB ASSN. —COPYBIGHT.]

LONDON, Alarch 9.

Though Downing Street made no specific request to the Dominions to co-operate, Air. Bruce and the Canadian High Commissioner are going to Geneva, to-morrow, to attend the Disarmament Conference, owing to the gravity of the crisis. Their attendance is a new development of the Dominion’s diplomacy. No Dominion representatives have hitherto journeyed to Geneva, except for formal transactions, for example the Assembly opening. Air. Bruce was reluctant to leave London in view of the butter situation, but considers it essential to maintain contact with the British Government over disarmament, consequently there will be no further butter negotiations until he returns.

The cabled news that the Australian Cabinet is reconsidering the restriction of butter exports is having immediate satisfactory effect on the market. Earlier in the week, news of

the decision not to restrict caused prices to slump. New Zealand choicest fell yesterday to 70/- to 72/-, Australian 69/- to 71/-, the lowest ever touched.

Today’s news brought buyers to the market, and there were considerable purchases, largely speculative in anticipation that quotas will be agreed to. This raised' New Zealand 74/- to 75/-, Australian 72/- to 73/-. Several of the largest importers are of the opinion that if Australia and New Zealand agree to restrictions, prices will recover considerably, but there must also be restriction on foreign.

N.Z.-—-AUSTRALIAN DISCUSSIONS

AUCKLAND, March .11

It is reported from Kohukohu that Mr W. Grounds announced that he and Mr W. Dynes I’ulton had been deputed In go to Australia to discuss, the butter situation.

Mr Grounds expressed himself as strongly against, export, restriction.