The Gisborne Times PUBLISHED DAILY. FRIDAY, OCTOBER 15, 1926. IS NEW ZEALAND GETTING A PAIR SPIN?

Gisborne Times, Volume LXIV, Issue 10490, 15 October 1926, Page 4

The Gisborne Times PUBLISHED DAILY. FRIDAY, OCTOBER 15, 1926. IS NEW ZEALAND GETTING A PAIR SPIN?

The position in regard to the Homo butter market continues to be most unsatisfactory. It might appear to those who do not trouble to inquire into the real facts that New Zealand is merely suffering in common with other butter-producing countries on account of a depression in the butter trade. Deep down under the surface, however, there would seem to Le evidence that those responsible for the distribution of daii-y produce at Home are making no special effort to push the sale of this. Dominion’s buttes* at a price commensurate with its high quality. There is nothing to be gained by attempting to conceal what is obvious. If what is wrong be a general trade depression .how is it that the dairy produce of other countries,.continues to sell freely at places which satisfy the holders ? It will be noted that the wholesalers at . Home are anxious to blame the Dairy Control Board and the companies for the fact that so much New Zealand butter continues to be held up from sale. Prices are, admittedly, not so high for any grade of butter just now as proved the ease at this time of the year in respect of the three past seasons. But, for all that, the price offered for the/New Zealand product is well below what is a Fair thing. Let us give the figures for October starting with the 1923-21 season—

LONDON MARKET PRICES. FINEST N.Z. SALTED BUTTER. October : '1923-24 ... 193/- down to 188/-1924.-25 ... 220/ —228/—224/1925- ... 230/ —234/ —212/1926- ... 154/- to 162/-; 152/-

"VYhen one comes to make comparisons in connection with the ruling prices this month for all classes of butter, it will le found that, on say, October 9, Danish commanded from 182/- to 184/- per cwt, whilst New Zealand unsalted ranged from 1‘54/to 170/-. The tantalising part of the business lies not so much in the fact that Danish butter invariably fetches a higher price than that of New Zealand. What is most aggravating is that Australian butter was,, at that time, in demand at 160/- to 164,'-, whilst Argentine could be sold freely at from 150/- to 156/-. It cannot 1/e gainsaid that the wholesalers at Homo hold the key to the marketing. They have more or less under their control long chains of shops and, unquestionably, they are, at present, displaying no special attempt to push New Zealand butter. Can it be that they feel that it will be easier to deal with the butter produced in other countries? The holders of New Zealand butter know that it is unlikely that they will, by bolding, receive as high a price as they did last year. Still they would lose heavily in many instances if they were to part with their produce at current rates. "What cannot 1.13 disguised is that Lliis Dominion must take lieed that various foreign but-ter-proclucing countries are being permitted to gain a much stronger footing on the London market. Here are statistics, prepared by Messrs. Dalgety and Co. Ltd., which bear out that contention—

1924-5 ' 1925-G cut. ewt. New Zealand ... 1,343,691 1,022,757 Denmark ... 1,704,124 1,794,648 Australia ... 1,109.535 809,073 Argentine ... 449.076 '493,700 Russia ... 99,122 282,957 Sweden ... 56,018 124,202

It is, unquestionably, significant that the new members elected to the Dairy Control Board are insistent that that body shall, at -once, disavow that it is to he its permanent policy to hold-up supplies for high prices.