COMMERCIAL

Poverty Bay Herald, Volume LV, Issue 17532, 29 July 1931, Page 12

COMMERCIAL

PROSPECTS FOR BUTTER AN IMPROVING TENDENCY “London buyers are very hesitatnt, and the market is somewhat depressed, Out when the German situation is cleared up the tendency should be for prices to improve in a few months,” states Mr. W. Good fellow in his inoiitlily report to the New Zealand Co-operative Dairy Co., Ltd. ilie present situation, lie explained, afforded evidence of the sensitivity of the Dominion's markets to outside influences. In 1929 Germany purchased 130,C00 tons of butter from Denmark and the Baltic States, and a financial collapse in Germany would send larger quantities to England. The new tariff with Canada gave Australian producers an advantage of 3 cents per lb. over the Dominion, in addition tc# which the premium on exchange benefited them to the extent of 2ld per it>. Canada had ample slocks, however, and there was every possibility of a 5 cents New Zealand tariff before the Canadians were required to buy. The Dairy Board’s weekly circular shows that deliveries of New Zealand (mlter lmvu.ke.pt fairly steady, and that last week 1247 tons were delivered, compared with 1176 in the correspondent week Just year, leaving 5728 tons in store, compared with 10.445 tons 12 months ago. Russian arrivals during the week totalled 1350 tons, the price being 965, compared with 98s the previous week. Poland and Baltic States sent 750 tons last week, Polish selling at 90s to 90s, Latvian from 103 s to 106 s, and Esllmninn from 106 s to 108 s. Danish was selling at 117 s to 118 s, compared with the New Zealand price of 113 s to 115 s at tlie came time. Canadian arrivals last week totalled 5800 boxes, while 10. COO boxes were expected this week al a nominal e.i.f. price of UOs. The retail prices were Is 2d for New Zealand and Is 3d for Danish.