PRICE OF BUTTER.

Poverty Bay Herald, Volume XLIX, Issue 16114, 1 May 1923, Page 3

PRICE OF BUTTER.

REDUCED FOR RETAIL SALE

TO-DAY

Tho price of butter for local consumption hasi been reduced' by 2d per lb, as from to-day. The reduction is based upon the) downward' movement of the London market, where New Zealand butter is now quoted at 146 s per cwt. Mr. G. R. Moore, chairman oif the Kin Ova Co-operative Dairy Company, slated to-day that tho reduction in retail prices follows tho swift decline of the London quotations. Some little time ago, New Zealand butter was quoted on tho London market at about 2605; to-day the figure is 1465. Haw long the price will stand at this figure; is uncertain, but exporters look for an early rise, since export from New Zealand! is falling off rapidly, with the coming of the off season, and) English supplies will be drawn from Denmark, Sweden, and Ireland. It is prophesied! that Ireland's output will bo well below the average this year, on account of the unsettled state of the country, and the withdrawal of supplies from New Zealand! will tend to raise the London prices. Tho slump, which it is believed is only temporary, will hit the Dominion producers rather seriously.