DAIRY PRODUCE TRADE.

Otago Witness, Issue 3972, 29 April 1930, Page 14

DAIRY PRODUCE TRADE.

BUTTER EXPORTS UP. In view of the recent heavy decline in dairy produce prices in London, the survey of exports and stocks of butter and cheese issued by the New Zealand Dairy Produce Board for the eight months of the season to March 31 is of outstanding interest, and gives much food for thought on the future of the industry. Taking the export figures first, it is seen that although the Dominion shipments for March, 9374 tons, w-ere 110 tons less than for the corresponding month of last year, the exports for the eight months ended March 31, 68,450 tons, show an increase of 3803 tons compared with the corresponding period of the 192&-29 season. On the other hand, exports of cheese show a decrease, not only for March, but also for the eight months, compared with last season. The decrease w’as 85 tons for March (9452 tons as against 9537 tons), and 1391 tons for the eight months’ period. Of the butter shipped in March, 1930, to the United Kingdom, the position at time of shipment was that 91 per cent, was consigned and 9 per cent, sold f.o.b. Of the cheese shipped in March, 1930, to the United Kingdom, the position at time of shipment was that 75 per cent, was consigned and 25 per cent, sold f.o.b (73 per cent, was white and 27 per cent, coloured). For the season ended March 31, 1930, 68 per cent. W’as white and 32 per cent, coloured. Details of the exports and. destinations of dairy produce for the eight months ended March 31 are given in the follow’ ing comparative tables:— BUTTER.

AUSTRALIAN AND ARGENTINE EXPORTS. Shipments of butter from Australia last month were 4562 tons, compared with 5686 tons on March, 1929 —a decrease of 1124 tons. No cheese was shipped last month, as against 473 tons oa March, 1929. Australia’s exports of butter for the eight months to March 31 were 35,420 tons, as against 33,418 tons for the corresponding period of last season —an increase of 2002 tons. Cheese exports for the eight months were 1037 tons, compared with 3159 tons —a decrease of 2122 tons.

Argentina’s shipments of butter last month w’ere 1710 tons, a decrease of 272 tons compared with March, 1929. For the eight months ended March 31 the exports totalled 11,659 tons, compared with 13,930 tone for the.same period of last season—a decrease of 2271 tons. BRITISH IMPORTS AND PRICE DECLINE.

An analysis of the imports of dairy produce into Britain during March and the first quarter of this year affords no apparent clue to the cause of the heavy decline in values, the imports of butter last month being nearly 2000 tons less than in March, 1929, and 3000' tons less than in March, 1928. Cheese imports last month were about 2000 tons more than in March, 1Q29, but 2600 tons, less than in March, 1928. Re-exports of butter from Britain

last month were only 563 tons, as against 1149 tons in March, 1929. The slump in prices last month is shown in the following comparative table:— March, 1930. March, 1929. Butter Cheese Butter Cheese First week 138/142 83/84 170/172 88/90 Second week 139/142 83/86 164/168 88/90 Third week 133/138 81/84 163/166 88/90 Fourth week 126/130 78/81 162/166 88/90 BRITISH IMPORTS FOR QUARTER. The imports of dairy produce into the United Kingdom for the first three months of each of the last three years compare as follow:— BUTTER.

It will be seen that imports of butter arrived from New Zealand during the first quarter of this year w-ere nearly 5700 tons less than last year and over 4400 tons less than in ]928, due to much larger shipments to Halifax. Imports of butter from Denmark, Sweden, and other countries (Latvia, Esthonia, etc.) were considerably in excess of those for the first quarters of 1929 and 1928, due doubtless to the mildness of the late winter months. The figures show that New Zealand is the chief supplier of cheese to . Britain, whose receipts from the Dominion for the quarter (11,413 tons) were more than the total from all outside sources in the first quarter of 1929. It has been suggested that the abnormally large stocks of butter held in the United States —13,617 tons at April 1, or more than five times those of 12 months ago—have been an unsettling influence on the London butter market. Whether this is so or not, the largely increased production of butter in Northern Europe is of more than passing interest to the Dominion industry. POSITION OF STOCKS. The following are the stocks of butter and cheese held in Canada at April' 1:—

Aug. 1Aug. 1Mar. 31, Mar. 31, 1929-30. 1928-29. Tons. Tons. London 44,567 49,063 West Coast U.K. 4.467 3,052 Vancouver .. . . 3.619 3,781 Halifax 14.722 7,590 Honolulu .. . . 332 344 Other countries 545 498 Panama 108 168 New York .. .. — 151 68,450 64,647 CHEESE. 1929-30. 1928-29. Tons. Tons. London 49,887 49.322 West Coast U.K. 7,149 8,669 Australia .. .. 13 6 Vancouver .. .. 89 106 Other countries 63 22 New York .. .. — 467 57,201 58,592

1930. Tons. 1929. Tons. 1928. Tons. Russia .. .. 10 31 271 Finland .. .. 941 1,158 782 Sweden .. .. 1.530 679 977 Denmark 9,043 7,824 7,799 Netherlands .. 227 430 259 France .. 3 119 35 Argentine 2,258 2,470 2,446 Irish Free state 279 ■ 129 283 Australia 5,976 4,362 6,350 New Zealand 7,072 12,753 11,487 Other countries 1,004 344 531 Total (tons) 28,343 30,299 31,220 CHEESE. Tons. Tons. Tons. Netherlands 807 831 1.263 Italy .. .. 593 454 '793 United States 18 — ■ - 24 Australia — 360 433 New Zealand 11,413 9,276 12,575 Canada .. .. ' 62 37 564 Other countries 432 431 277 Total (tons) 13,325 11,389 15,929

1930. 1929. 1928. Tons. Tons. Tons. Butter . . .. 5,473 1,778 3,050 Cheese 2,833 5,931 5,863 Taking into account Canadian cheese both in Canada and Britain, the position shows:— 1930. 1929. 1928. Tons. Tons. Tons. In Canada .. 2,833 In United King5,931 5,863 doni 4,615 3,020 688 7,448 8,951 6,551 The following are the stocks of butter and cheese held in the United States at April 1: — 1930. 1929. 1928. Tons. Tons. Tons. Butter 13,617 2,471 2,610 Cheese 18,736 20,100 14,193 The position of stocks at April 1 was as follows: — 1930. 1929. Tons. Tons. BUTTER. Estimated stocks of all butters in London, including private and provincial stores 18,000 15,500 Stocks in New Zealand, including loaded into steamers not sailed finally at April 1 New Zealand stocks 14,500 5,000 afloat 12,868 12,775 27,368 17,775 CHEESE. Estimated stocks of cheese at London, Liverpool, and Bristol:— 1930. 1929. 1928. Tons. Tons. Tons. N.Z. and Australian 7,625 9,707 7,271 Canadian .. .. 4,615 3,020 688 12,240 12,727 7,959 Stocks in New Zealand, including steamers not sailed finally on April 1 .. .. 15,714 12,000 10,000 Stocks afloat from New Zealand .. 15,225 15,319 11,187 30,939 27,319 21,187 Total in sight 43,179 40,046 29,146 The phenomenal increase in the March gradings of 52 per cent. of butter and 13 per cent, of cheese helps to account for the large stocks in New Zealand at April.