BUTTER RESTRICTIONS

Waikato Times, Volume 113, Issue 18928, 24 April 1933, Page 2

BUTTER RESTRICTIONS

FORCING DOWN PRICES. ALLEGATIONS BY DIREOTOR. OFFERINGS ON LONDON MARKET. (By Telegraph.—Press Association.) NEW PLYMOUTH, Sunday. Interest In dairy circles has been aroused by the allegation *of Mr S. Hawke, a director of the Patua Dairy Company, at a public meeting, that certain firms handling New Zealand dairy produce were offering large quantities' on the London market at prioes much below the present market prices, and so forcing down prices. Mr Hawke said that quantities totalling over 14,000 tons were handled by one of these firms, which, he said, should not be permitted to handle produce. He also stated that the Dairy Produce Board had been aware of the position for three months, but had taken no action. He alleged that the object of such firms was to secure cash to meet their obligations to the banks. “These same firms have been known- to sell produce at tim&s before it has reached the market,”.he said, “and I have heard of one occasion when, a firm sold dairy produce before it had left New Zealand. Today, I was told that a certain firm was offering cheese on the London market for May delivery at 32s per ■cwt., at which price the companies would net -only about 10s per cwt., plus exchange.” Mr Hawke quoted the following cablegram received from the Importers’ Association of Britain, which, he said, had been received by the Dairy Board and dairy companies:— “The advisory committee recommends that instructions should be given to l all agents, either direct from factories or through the board, that consignments of butter and cheese shall not be aold until the steamer has comenced discharge, and that no portion of consignments he allocated by agents to a forward contract, consignees to furnish the hoard with any information required to ensure that Instructions are carried out. A recommendation is designed. The praotice of selling consignments at under the current price before the steamer ties up is thus continually depressing the market.”

OPPOSITION TO QUOTA. N.Z. DELEGATES TO AUSTRALIA. A CLEARER UNDERSTANDING. United Press Assn. —Elec. Tel. Copyright. SYDNEY, April 23. The New Zealand dairymen’s delegates to the Sydney, conference were passengers by the' Wanganella for Auckland last evening. Mr Dynes Fulton, in an interview before life departure, expressed confidence that the result of the visit would ba a much dearer understanding between Australia and New Zealand, to their, material mutual benefit.

The visitors were impressed by the courage displayed by the Australian producers in meeting the difficulties of t'he past few years, and by the growth of the dairy industry. Mr Fulton said the low prices which had resulted from the bad economic conditions in New Zealand had made the lot of the farming community them extremely difficult. Butter was being retailed as low as Bsjd a lb. for finest quality, and the price paid to the farmers for butter-fat was the lowest for 30 years.