BUTTER EXPORTS

Greymouth Evening Star, 11 April 1933, Page 7

BUTTER EXPORTS

CANADA’S “DUMPING” DUTY.

by CABLE —PRESS ASSN. —COPYRIGHT.]

OTTAWA, April 9.

The Canadian Government has levied a dumping duty against the New Zealand butter now in bond at Vancouver. It is believed that the duty levied is on the same basis as the dumping against goods from the United Kingdom. This basis is the difference between the fixed value of the pound sterling at four dollars 25 cents and the average actual exchange rate of sterling on the world market which is in the neighbourhood of 4 dollars 22 cents.

As the New Zealand currency is lower than sterling, the dumping duty against. New Zealand butter is correspondingly higher. It is estimated here that it will amount, approximately to three and a-half cents per pound. This impost is in addition to the regular five cents per pound dutv. There is about 250 tons of New Zealand butter in bond at Vancouver. ALTERNATIVE ACTION (Rec. April 11, 10.30 a.m.) VANCOUVER, April 10. Vancouver importers of New Zealand butter are undecided regarding dumping duty. A shortage in Montreal may permit a. shipment there. The alternative is to hold and sell as ships stores, in which case they pay neither duty nor dumping charge. 7050 fiftysix lb. boxes are in storage. The wholesale price of Canadian, advanced one cent to-day.