BUTTER PRICE.

Taranaki Daily News, 4 September 1920, Page 4

BUTTER PRICE.

FINAL SETTLEMENT. SALE AT 260? A OWT. LOCAL PRICE NOT LESS THAN 2s 9d. A definite statement concerning the future retail price of butter may be expected any day, an a settlement.for the sale of butter has now been reached. Yesterday Mr. A. Morton, chairman of the National Dairy Association, received a message from Mh Massey that the following cablegram has been received from the Imperial Government: "With reference to your telegram of August 26, hiß Majesty's Government ngree to extend offer to cover butter delivered to stores in New Zealand up to March 31 next, And raise no objection to the completion of contracts made prior to August 21 with United States, and Canadian buyers. Subject to unforeseen contingencies a free market is contemplated in respect of the exportable surplus after March 3i." 1 ! The price to be paid is 280$ perewt., or 2s 6d per lb., and the conditions are otherwise the same as last n-year—an advance of 90 per cent to be made after the butter has been in,store for'l4 days Speaking to a Daily News, reporter last night, Mr. Morton said Mr, Maisey would now be able to disclose tbe Government's intentions regarding. the sale • of butter in New Zealand. Mr. Morton remarked that many predictions had been made as to the future price, but it was now clear thßt if the producers were to receive the full export value "the local price of butter could not be less than 2s 9d or 2s lOd a pound. There was, however, still a possibility of the Government subsidising the butter, and so keeping it below this price.