DAIRY PRODUCE

Waipa Post, Volume 48, Issue 3470, 24 May 1934, Page 8

DAIRY PRODUCE

HEAVY SHIPMENTS FOR BRITAIN. RECORD IMPORTS FOR MARCH. In their monthly survey of the but. ter and cheese markets in London, Samuel Page and Son, Ltd., writing to Dalgety and Co., Limited, on April * 17th, state that the total imports into the United Kingdom during March totalled 939,897 cwt. No other single month has ever before reached the 900,000 cwt. mark. A feature in this record is of especial interest to New Zealand and Australia, as the Dominion and the Commonwealth are the two among all the exporters of butter to the United Kingdom that have both established a record of a larger quantity in any one month than ever-before, while the import from Denmark during March, 1934, has been exceeded in one month on previous occasions. In view of this phenomenal supply, and also bearing in mind that trade, although greatly improved, in many directions is still very depressed in northern areas, it is some matter for congratulation that prices have not declined, and are slightly higher than those ruling twelve months ago, and this in face of the fact that re-exports during March were only 22.765 cwt, as against 63.917 cwt. in the corresponding month of 1932, although considerably larger than in March, 1933. It would therefore appear that as the values of New Zealand and Australian from April materially appreciated throughout the remainder of last season, there is reason to assume that some improvement on present prices may also take place during the coming summer. " But we give this view with considerable hesitation, because under the general uncertainty of these days in matters of commerce. It is almost foolhardy to venture upon prophecy. The consumptive demand would naturally decline somewhat as market prices advanced, especially in view of the fact that the large ' multiple shops ' are retailing a certain quantity of Empire butter at 8d per pound, as well as at lOd, and directly these retail prices were raised 2d per lb, 'or even Id per lb, consumption would decrease." r