Tobacco Prices Rising As Result of Exchange ?

Manawatu Times, Volume LVI, Issue 7066, 27 January 1933, Page 6

Tobacco Prices Rising As Result of Exchange ?

INDICATIONS IN THE CITY Although no definite decision has yet been reached by tho tobacco trade as to whether a rise in th. retail price of tobacco and cigarettes must bo a consequence of the rise in tho New Zoa-land-London exchange rate, the general public appear to be expecting higher prices in this regard. There have been large clearances of imported tobacco from bond in other centres, while a Times’ reporter yesterday elicited the information that a number of local shops had made additional purchases of the commodity. A suggestion is that tobacco, imported under tho former low rate of exchange, might be priced up to enable tho trade to make an extra profit that would compensate for any loss involved in an eventual reduction of the cx.chango rate from its present level. Vletail prices, however, still remain the same in the city although it is expected by some tobacconists that the price of all imported tobaccos will rise very shortly.