BUTTER SLUMP

Wanganui Chronicle, Volume 76, Issue 285, 2 December 1933, Page 9

BUTTER SLUMP

PANIC AMONG TRADERS

TOOLEY STREET VIEWS PRICES MAY GO LOWER By Telegraph.—Press Association—-Copyright) LONDON, Nov. 30. Panic among weak traders is responsible for the flood of butter sales. Tooley Street emphasises that nobody has the slightest confidence in the future and points out that butter fell to low levels of last winter when shipments were lighter than at present. The slightly increased demand fails to balance the heavy arrivals. The Multiple Stores Co-operatives and mass caterers, who are among the largest purchasers, are holding off in tho expectation of even lower prices. Importers, on the contrary, are anxious to clear stocks immediately and make room for further heavy consignments. Grillanders say that they arc unable to raise the price. It is up to Australia to regulate shipments, for which Tooley Street will be delighted if the Australian Export Board’s meeting on December 5 is successful. Tho market view, however, is that t’h£ chances of Australian and New Zealand co-operation are most slender in view of New Zealand’s declaration that it is unable to restrict shipments. Danish continues to command a heavy premium owing to tho persistent North of England preference for it. KONINI EXPORT CONSIGNMENT FOR JAMAICA. [ Per Press Association. | PAHIATUA, Dec. 1. The Konini Dairy Company hat sold a large consignment of butter to Jamaica at a price considerably above London parity. It sent several shipments last year. AUSTRALIAN BILL PROTECTING LOCAL CONSUMER Received De.. I, 11.25 p.m. CANBERRA, Dec. 1. The Minister of Commerce, Mr Stewart, in his second-reading speech in tho House of Representatives on tho Butter Marketing Bill, stated that the Commonwealth legislation for the control of butter and cheese marketing would not opernte until the State Governments concerned took stops to protect consumers against an unreasonable increase in tho local price above London parity. Tho effect of the Bill was to compel the export overseas of any butter and cheese not required for home consumption.