THE BUTTER MARKET.

New Zealand Herald, Volume LXIII, Issue 19509, 13 December 1926, Page 11

THE BUTTER MARKET.

SUPPLY FOR AUSTRALIA.

NEW ZEALAND IMPORTATIONS

OPPOSITION TO DEALINGS.

By Telegrarh—Press Association—Copy ris'isi.

(Received 5.5 D.m.) A. and N.Z. SYDNEY. Dec. 12

As a result of the drought tie price of butter will bo increased to-morrow Ijd a lb., bringing the wholesale price ,to 19^d. It is reported that heavy purchases of New Zealand butter for the Sydney market were made in "view of tha present shortage. A message from .Melbourne says the members of the Dairy Produce Control Board and of the Stabilisation Committee view with concern the probability of further importations into Australia of Nbw Zealand butter. It has been learned that merchants and speculators in Sydney are making purchases of New Zealand butter for immediate and also for forward delivery.

It is stated that although drought conditions prevail in Queensland and in parts of New South Wales and Victoria, production is practically normal and there, is a total surplus of butter in Australia of more than 40,(XX) cases weekly. This i$ mainly Victorian and will be available for the other States.

Importations from New Zealand will have the effect of disorganising the .Australian market and reducing the price against the dairy farmers.

The Stabilisation Committee has decided to call meetings of the wholesale distributors in Sydney and Brisbane, with the object of pointing out to them that there is sufficient butter in Australia to meet the requirements of the Commonwealth. A meeting of Melbourne distributors p.kssed a resolution that tho importation of New Zealand butter was unnecessary, and prejudicial to the interests of the producers in Australia.