BUTTER EXPORTS FALL

New Zealand Herald, Volume LXXV, Issue 23115, 13 August 1938, Page 11

BUTTER EXPORTS FALL

PAST SEASON'S FIGURES DROP OF ABOUT 5 PER CENT - FARMERS RECEIVE £18,070.900 Exports of New Zealand butter for the year ended July 31 dropped from • the previous season's record figure of 149,003 tons to 141,740 tons. This is a decrease of 7263 tons on the 1936-37 season, of 4.9 per cent. The period covers year of the pa3'ment of a fixed price, guaranteed by the Government for all butter and cheese shipped overseas. Dairy farmers in New Zealand have received £18,070,900 for the exports of butter alone in the past season, based on the guaranteed price of 13.66 d per lb. This compares with a return of £17,470,600 in the first year under the administration of the Primary Products Marketing Department. Quality differentials are taken into account in these figures. The decline in exports in the past season has interrupted a steady ex-. pansion which has been going on for several seasons. The total for both the 1935-36 and 1936-37 seasons was a record. Exports for the past nine years compare as follows: — Season Tons 1929-30 .. .. .. 92,387 -1930-31 .. .. .. 93,224 1931-32 V '98,232 1932-33 126,073 1933-34 139,002 1934-35 129,704 1935-36 141,448 1936-37 .. .. 149,003. 1937-38 141.740 ** Wet and cold weather was responsible for a sharp fall in exports. A total of 6028 tons was shipped in July, a decline of 2926 tons on the figure for the same month last year.Owing to this sharp fall, output in July was even lower than was anticipated, and butter-fat output is estimated to be at least 15 per cent lower than in July, 1937. The fall in shipments for the year shows that gradings have been muctt lower, and butter-fat production for export for the 12 months is about 6$ per cent less than last year. The percentage decline in butter is estimated at about 7 per cent, and that of cheese at about 3 per cent. Exports for the past two seasons were distributed as follows: — Destination. 1937-38 1938-37 London .. .. 98,387 107,988 Avonmouth and Cardiff 12,221 10,008 Liverpool .. .. 7,865 7,992 Manchester .. .. 10,026 10,883 Glasgow • • • • 8.059 8,964 Honolulu .. 433 649 Panama .. .. 689 922 West Indies .. .. 410 449 Germany .. . • -. 77a Other countries .. 2,620 1,148 | Total (tons) .. 141,740 149,003 The destination of the cargoes shows little alteration and Great Britain again absorbed all the exports, An interesting feature of the figures is the appearance of Germany as a buyer of 1000 tons of butter. While* New Zealand shows a decline in her export figures, Australia increased its shipments to Britain by 12,702 tons in the same period, exports totalling 96,683 tons. £ QUIET LONDON MARKET NEW ZEALAND BUTTER 121/*; CHEESE AGAIN ADVANCES ■ London prices for.New Zealand butter have declined Is per cwt. since the close of last week. The current quotation for New Zealand salted is 121s per cwt., with the market reported to be quiet. A Press Association message sent from London on Thursday quotes Australian salted butter at 118s per cwt., a drop of 2s on the week, but Danish is Is higher at 1255. TJnsalted New Zealand is selling at 122s and Australian at 119g. The cheese market is firm and prices again have risen. New Zealand white and coloured are both quoted at 70s 6d per cwt., rises of Is 6d over the past week. The rate for Australian white is 68s 6d per cwt., and for coloured 695. Recent quotations and those of a year ago compare as follows: —• Aug. 12 Aug. 5 July 8 Aug. 13 Butter— 193S 1938 193S 1937* . N. Zealand 12.1/- 122/- 121/- 116/Australian . 118/- 120/- 119/- 115/Danish .. 125/- 124/- 121/6 124/Cheese —N.Z.: White .. 70/6 69/- 68/6 70/3 Coloured .. 70/6 69/- 68/6 68/3 Canadian: White .. 79/- 79/- 79/- 72/6 Coloured .. 79/- 79/- 79/- 72/The basic guaranteed price for butter, including the recent additional payment, is equal to 13.66 d per lb., f.0.b., and the current London quotas tion is equal to 14.43 d, New Zealand ports. The equivalent price for cheese ' is about 8d per lb., compared with the present guaranteed price of 7.75 d. A. S. Paterson and Company, Limited, quote:—Butter: The market is steady. New Zealand, 121s; Australian, 117s; Danish, 1275. Cheese: The market is steady. New Zealand, 70s 6d; Australian, 675. SMALLER CHEESE SHIPMENTS ' LARGER RETURN TO INDUSTRY; Cheese exports for the season ended July 31 were 84,783 tons, compared with 85,169 tons in the previous season and 83,928 tons in 1935-36. The decrease in shipments was 386 tons, or about .4 per cent. Based on the guaranteed price of, 7.81 d per lb., the return to the industry was £6,180,100, compared with i £5,415,334 in the previous season. Shipments to the London market again were reduced, but this was almost offset by larger exports to the West | Coast of England. The destinations of ; shipments for the past two seasons were 1 as follows: — Destination 1937-38 1936-37 London 61,807 65,408 Avonmouth and Cardiff 8,040 6,556 Liverpool 5.087 4,066 Manchester .. .. 5,133 4,695 Glasgow . .. 4,951 4.264 j Other countries • .. 125 180 Total (tons) .. 84,783 85,169 . Cheese exports in July declined by \ 408 tons to 5301 tons, in sympathy j with the reduction in butter. Australian cheese exports for the' past season increased by 6272 tons to 11,693 tons.