DIFFERENCE IN PRICE

Te Awamutu Courier, Volume 53, Issue 3794, 12 August 1936, Page 5

DIFFERENCE IN PRICE

LONDON AND NEW ZEALAND?

“Some dairy farmers appear to be under the impression that they -ere to receive a guaranteed price-.equal to 117 s 3d pel cwt on the London" market,” said Mr P. B. Desmond,-Secre-tary of the Cheltenham Dairy Co., Feilding, in an interview. "Apparently they have this idea because the Government’s stated guaranteed price is to be 12 9-16 d per lb t.oj>., or 117 s 3d cwt. There is a d istinct'difference between 117 s 3d f.o.b. cwt. in.. New Zealand and 117 s 3d cwt London, as it is customary to speak in terms of ‘per cwt’ only when referring to London prices. The logical conclusion is to accept the quotation made by the Government of 117 s 3d cwt to bfe the same as the present market price in London. Unfortunately this is not the case; 117 s 3d London is equal in New Zealand currency to approximately 1c 2d (13.95 d lb.” Mr Desmond went on to say that the London market quotation, . 106 s 6d, will pay the guaranteed price of 12 9-16 d lb. f.o.b. In Other . words such time as the market remains above 106 s 6d in London. ....