HOLDING BACK BUTTER.

New Zealand Herald, Volume LXII, Issue 19031, 30 May 1925, Page 10

HOLDING BACK BUTTER.

BOARD NOT RESPONSIBLE. | COMPANIES OWN INITIATIVE. I [BY TELEGRAPH.- —OWN COnitESPONUKNT. ] WELLINGTON. Friday. Questioned with regard to the position on tho London butter market and the suggestion of merchants that tho holding back of butter is a result of action taken by the New Zealand Dairy Produce Export Control Board, the chairman, Mr. W. Grounds, stated to-day that the board is not exercising any form of control, neither is any control of the marketing of produce contemplated before August,' 1926. The reservations of stocks have been made at tho instigation of individual factories. " Jl is an entirely independent movement so far as tho hoard is concerned," said Mr. ({rounds. " During tho past few seasons co-operative dairy factory companies have lost heavily by the immediate sale of their produce oti its arrival in London in comparison with those companies which luild their supplies off the market during the slump periods They havo been led by these csncricjjces to hold back their supplies from the market and to await a risQ in the price usually occurring in the late British summer and autumn"months. We have 110 accurate knowledge is to tho extent of those reservations, for the factory _ companies are under no obligation to disclose to anyone any decisions they may come to in the conduct of their own business. Of course, we know the quantities held in New Zealand, and I believe they are approximately 100,000 boxes."