LOSING MARKETS

New Zealand Times, Volume LII, Issue 12251, 24 September 1925, Page 5

LOSING MARKETS

NEW ZEALAND DAIRY PRODUCE EFFECT OF SHIPPING STRIKE I FOREIGNERS GAINING By Telegraph.—Press Assn. —Copyright Australian and N.Z Cable Association LONDON, September 22. Mr J. Newton, representing large dairying interests in Western Victoria, denies that New Zealand butter stocks are being unreasonably withheld in Britain. He says that the holders are merely rationing the market owing to the shipping strike restricting arrivals of butter from Australia and New Zealand. The price lias already increased by 400 s a ton, equivalent to 2d or 3d a pound retail. If the strike continues for six months, thero will probably be a further increase of 60s a ton to war-time level. Wheat, meat, and wool are also likely to increase, resulting in a higher cost of living for the British people.

SNATCHING CARGOES Continental producers are seizing the opportunity to enter the British market, and Continental shippers are snatching cargoes for Australia and New Zealand, expecting to obtain profitable return cargoes to a hungry market. This will probably enable them to retain a portion or the trade permanently, thereby ousting many British seamen. Baltic ports are especially active by sending butter to Britain, including Russian supplies from Siberia. One London firm is importing 3000 casks of butter weekly, equal to 6000 Australian or New Zealand boxes. UNDOING WEMBLEY’S WORK Tims the Russian Reds are getting high prices in Britain, while the Rea agents in Australia are damaging Anglo-Australian trade, and leaving the strikers unemployed in the present as well as permanently. A shipping authority declares that the strike is steadily undoing Wembley’s good work on behalf of Anglo-Australasian trade.