THE BUTTER MARKET.

Waipa Post, Volume XXI, Issue 1282, 17 August 1922, Page 2

THE BUTTER MARKET.

NEW ZEALAND. DEARER THAN

DANISH.

DELAYS IN UNLOADING.

LONDON, June 29

Quotations for butter to-day, as given by the press and doubtless cabled to New Zealand, are rather remai liable. Danish is stated to be from 228 s to 232, while New Zealand is 232 s to 2405/ That New Zealand quotations should be higher than Danish is unusual, but it is not altogether a matter for congratulation. It is very doubtful if any of the New Zealand produce has changed hands at. 2405, .or indeed that more than a few small parcels have been sold even at 2345. The higher price quoted is really a fictitious one, whereas the Danish prices quoted probably represent the prices at which business has actually been done.

Four days ago, at the beginning of this week, had the Raranga cargo been available there is little doubt that 235 sto 240 s might have been obtained. Buyers had been making insistent demands for New Zealand butter, but there was none to sail or those who had any on hand were averse to selling. Thus the price asked was kept continuously out of the reach of those who wanted to buy, with the result that quotations soared up to a level several shillings in advance of Danish. Unloading of the Raranga was not as prompt as could be desired by those who were operating on such a favourable market. In fact, the unloading had been con : siderably delayed and now the market is easing off, with the result that those agents l and merchants who had sold their produce at a price to be fixed when the goods were sin store are feeling seriously aggrieved with the shipping companies.

Vessels Held Up. A vessel held up in the river when prices are rising creates very little concern either to the buyer or the seller. A vessel held up when prices are falling is a matter which causes extreme irritation. If the agent is arranging his prices according to the level of the market on the day when the goods are available, he feels he is losing money heavily. If he has already fixed his price his clients shuffle and attempt to repudiate their contracts if there is the slightest loophole of escape. Now the Tainui, the Remuera, and the Raranga cargoes are coming to hand, but it is just a little too late for the pinnacle prices to be obtained. The question of delay I have dis*cussed with the shipping companies. It seems that there are several reasons for thisf 'delay which the companies acknowledge. Chief amongst these is the irregularity of arrival of the vessels. For instance, one shipping company has three berths available at the Royal Albert Docks'. If a fourth vessel comes in while the other 'three are discharging it has to lie up on the other side of the river until one of the other three has finished. Again, a large proportion of the butter is stored in the same hold as meat, and is invariably placed beneath the meat, being heavier. Some time ago the situation was serious in this respect as consignees were never anxious to,take delivery of their meat owing to lack of storage or owing to low prices. This state of affairs has improved. Nevertheless, when the (demand for the butter is mbre urgent than for the meat, the owneraf of the butter must naturally grow impatient as under even normal circumstances they may suffer some delay owing to the lack of dispatch on the part of the meat consignees l in taking delivery , of their produce. The more serious trouble, however, is the arrival of too many vessels at the same time. It would seem, therefore, that any remedy for this must be made by those despatching the steamers from New Zealand, or the companies in conjunction with the Port of London Authority must arrange for further berthing accommodation. So far as the price of butter is concerned the immediate prospect i&> that Danish will slightly advance and New Zealand 'prices will come down a little.