BUTTER IN STORE

New Zealand Herald, Volume LXXV, Issue 23192, 11 November 1938, Page 11

BUTTER IN STORE

GOVERNMENT ACTION PREVENTING SPECULATION CONTROL BY DEPARTMENT [by telegraph—press association] WELLINGTON, Thursday "It is not necessary for anyone to store butter for sale in New Zealand," said tho Minister of Marketing, the Hon. W. Nash, in an interview in connection with an Order-i'n-Council gazetted to-day, empowering the Internal Marketing Department to take over certain butter in cool store. "Ample supplies of first-grade butter have been available to all parts of the Dominion as a result of the activities of the Internal Marketing Department, yet we find that considerable quantities of butter have been placed in various cool stores, presumably in anticipation of a rise in the wholesale price," tho Minister said. "The only explanation possible is that this butter has been stored with tho object of making speculative profits.

"Butter held under such circumstances deteriorates in quality as compared with the fresh product, and there is. no reason why consumers should not always have the freshes.t possible supplies," he continued. Mr. Nash said that he had already indicated that the Government intended to endeavour to prevent speculation in butter destined for consumption in New Zealand. This was the explanation of the Order-in-Council.

"Under this regulation, the Government has taken authority to find out at any time tho amount of butter stored, the owners of it and the dates on which tho butter was deposited in cool storage," the Minister added. "This provision will not cover butter held by retailers in tho normal course o£ their business, as cold storage space up to 40 cubic feet capacity has been exempted. "Authority has been taken for the Internal Marketing Department to take over any cool-stored butter coming within the scope of these regulations.. The object of the Government is to ensure that foodstuffs reach the consumer in the best possible condition, and at the lowest possible price commensurate with the _ return received by the producer. It is in furtherance of this objective that these regulations have been framed."