BUTTER EXPORTS

New Zealand Herald, Volume LXXV, Issue 23155, 29 September 1938, Page 12

BUTTER EXPORTS

CANADIAN MARKET LIFTING OF RESTRICTION POSSIBLE EFFECT ON PRICES [iJY TELEGRAPH —OWN CORRESPONDENT] NGATEA, Wednesday Tho announcement that from Friday the Canadian Government would accept butter shipments from New Zealand without a quantitative restriction was made by the Minister oi Finance and Marketing, the Hon. W. Nash, when speaking at the Ngatea Hall to-night. The Minister had been dealing with the overseas markets, and said that bargaining v,'ith the Canadian Government. had achieved the sale of 54,000 boxes of butter a year at an even duty of 7 cents a pound. This was a considerable increase on the quantity which Canada had previously taken, but now the restriction was to be lifted, and Canada was prepared to take as much butter as it could get. Ihc Minister said that this outlet would take a certain amount of the Dominion's output from the United Kingdom market, and would assist to keep up the overseas prices.

The extension for a further year of tho trade agreement between New Zealand and Canada, which was due to expire to-morrow, was announced by Mr. Nash earlier this month. The new provisions included an agreement by the Canadian Government to abolish the exchange dumping dutj on butter, which means that shipments from iNew Zealand will in future be admitted on payment of the duty of 5 cents per lb. fixed under tho agreement. In order to safeguard the interests of the C anadia,n producers. an understanding as reached whereby the New Zealand Government undertook to co-operate as far as possible by limiting shipments to such reasonable proportions as woulcl not unduly prejudice the interests or Canadian producers.