MARKET LOST

Wanganui Chronicle, Volume 80, Issue 254, 27 October 1938, Page 8

MARKET LOST

NEW ZEALAND CASEIN * LOW PRICES AND HIGH COSTS [ Per Press Association.] WELLINGTON, Oct. 26. "The future of some of the companies in New Zealand manufacturing casein are prejudiced by a decreased demand and falling prices for the commodity,” said Mr. H. E. Pacey, general manager of Joseph Nathan and Co. (N.Z.), Ltd., to-day. For the time being business in lactic casein with Japan had ceased, he continued, There was a greatly reduced demand at lower prices for rennet casein in Japan and the English market for both lactic and rennet casein was continuing to move so low that with the high manufacturing costs there was but a trifling return for the producer. The markets were being over-supplied by France and other European countries and the Argentine. In recent years New Zealand had not sent any large quantities of casein to the English market, her chief consumer being Japan. Because under the Government's guaranted price scheme 2d per lb. more was paid for butterfat used in the manufacture of cheese than for that used In the production of butter and casein, considerable quantities of butterfat had been diverted to the manufacture of cheese. Hopes were still held out that a market for casein would be created by the manufacture of artificial wool from casein. Experiments in England were still being continued and further sample shipments of casein had been sent from New Zealand.