THE BUTTER MARKET

Otago Witness, Issue 3714, 19 May 1925, Page 23

THE BUTTER MARKET

BATTLE BETWEEN HOLDERS AND DEALERS. EJ FORT TO FORCE RELEASE OF STOCKS. LONDON, May 12. It is stated that the recent increase in the price of butter by Id (to Is 9d) per lb was au attempt by the wholesale interests to lessen the public demand and thus force the Australian and New Zealand (particularly the New Zealand) producers to release their stocks. It is estimated that New Zealand is holding 500,000 cases in the hope of obtaining higher prices. The wholesale deale v s threaten to further raise the price if the stocks are not released in a week. Meanwhile, in view of the approaching influx of butter from Europe, Argentina, Siberia, Ireland, and other countries, holders, instead of obtaining increased prices, may he forced to accept reductions, although the opinions of Australian and New Zealand offices in London differ according to the policies they have adopted. A prominent Australian co-operative official says that the Australians and New Zealanders cannot hope to dominate the English market. The domination by Australia and New Zealand, where there were big co-operative companies aided by protection and a sympathetic Government, would perhaps be feasible, but it is utterly ineffective when dealing with a Freetrade country, an antipathetic Government, and a ponulation of 50,(XX),C00 consumers suf» fermg from an industrial slump.