BUTTER PRICES

Otago Witness, Issue 3549, 28 March 1922, Page 10

BUTTER PRICES

THE PRICE-FIXING SCHEDULE. AUCKLAND. March 22. The members of the Auckland section of the Dominion Butter Committee have resigned in a body owing to being triable to agree on the price for butter for local consumption. The members were Messrs T. Bassett (North Auckland, chairman), W. C. Motion, and A. Buchanan (Waikato), and 11. C. Aiken (Auckland). The resignations are the outcome of the New Zealand Co-operative Dairy Company reducing the price of first-grade butter from March t 3 to Is 2d wholesale, a penny below the price fixed by the committee. The committee met to discuss the position, and (lie representatives of the company declined to agree with the suggestion that the price should be advanced to Is 4d wholesale, to correspond with the value of butter cn the London market. Subsequently Mr

Aiken stated that as far as the companies outside the New Zealand Co-operative Dairy Company, operating on the local market, were concerned, the price of first-grade butter for local consumption would be maintained at Is 3d wholesale, the price fixed by tile committee. Though it was a penny in advance of the New Zealand Dairy Company’s price it was a penny lower than London parity. British buyers were now offering Is 3d per lb f.o.b. for butter manufactured up to June. This offer had been refused, indicating that London prices were expected to go still higher. Old stocks of New Zealand butter that had been in London had been cleared, and with increased consumption that had resulted through the lowering in butter prices in Great Britain, it was anticipated that the market would be much firmer in future. March 26. The possibility of the wholesale and retail price of butter being increased in this city as a result of the increase in the price on tho London market was made the subject of an inquiry. Mr H. C. Aickin stated that under the existing conditions it was difficult to make a definite statement. There was every possibility, however, he addded, of prices bemg advanced on Monday. The manager of the Auckland branch of the New Zealand Co-operative Dairy Company (Mr Cutnbertson) declined to make a statement in connection with the matter.