BUTTER FOR LOCAL TRADE.

New Zealand Herald, Volume LIV, Issue 16570, 20 June 1917, Page 8

BUTTER FOR LOCAL TRADE.

THE QUESTION OF PRICE. " The holders of the vast quantity of butter in store, which at the end of May totalled 242,464 boxes, as against 83,957 boxes at the close of May, 1916, are at last beginning to realise that they had better take advantage of the local market," says the Mercantile Gazette. "The maximum prices for butter fixed by Order-in-Council provided as follows Manufacturer's price Is 4£d per lb, merchant's price Is SAd per lb, retailer's price Is 8d per lb. With the huge quantity in store and tho prospects of shipping to London being greatly reduced, it is becoming recognised that it would be better to realise, even at a loss, than to keep' on holding for an opportunity to export. It is stated now that butter has been withdrawn from store and sold in New Zealand at Is 3d; if this bo so, then the butter should bo retailed at Is 6d instead of Is Bd. Even the lower price is unwarranted by the conditions. In Victoria, where there is a scarcity of butter, the price }ias been fixed at Is 5d per lb, and that ought to bo the retail price in New Zealand. The more prudent holders of butter will presently recognise that it is better to cut losses and get the best price obtainable locally. The London market is dead for, the present, and although we are promised an improvement in tonnage by the end of next month, there ,is no guarantee of fulfilment. If butter is placed on the markets here at a reduced price the consumption would readily increase, and that would help to relieve the congestion."