HEAVY BUTTER SUPPLIES

Hawke's Bay Tribune, Volume XXIII, Issue 300, 2 December 1933, Page 9

HEAVY BUTTER SUPPLIES

Flood of Sales in London LACK OF CONFIDENCE By Telegraph—Press Assn. —Copyright LONDON, Nov. 30. A panic among weak traders was responsible for a flood of butter sales. Tooley Street emphasises that nobody has the slightest confidence in the future and points out that butter fell to low levels last winter when shipments were lighter than at present. The slightly increased demand fails to balance the heavy arrivals. Multiple Stores and Co-operative Mass Caterers, who are among the largest purchasers, are holding off in expectation of even lower prices. Importers, on the contrary, are anxious to clear stocks immediately and make room for further heavy consignments. Grillanders say they are unable to raise the price and it is up to Australia to regulate shipments, for which Tooley Street will be delighted if the Australian Export Board’s meeting on December 5 is successful. Tho market view, however, i« that the chances of Australian and New Zealand co-opera-tion are most slender in view of New Zealand’s declaration that sho is unable to restrict shipments.

Danish continues to command a heavy premium owing to a persistent north of England preference for it.