HOPEFUL PROSPECTS

Waikato Times, Volume 114, Issue 19017, 7 August 1933, Page 7

HOPEFUL PROSPECTS

BUTTER IN LONDON. IMPROVEMENT CONTINUED THE MARKET REVIEWED. United Press Assn. —Elec. Tel. Copyright. (Received Aug. i, 9.30 a.m.) LONDON, Aug. 6. The Improvement In the butter market, which' began a month r ago, la maintained and prospect* appear more favourable than for a long time. Cold stored stocks still exceed 1,300,000 boxes, but the consumption Is good, and with prospective arrivals decreasing, Importers generally are taking a hopeful view of the future. The report of one leading firm says: “As arrivals of consignments of butter from now onwards will be on the small side and available stocks are . well sold up, future supplies will have to be taken from cold store by speculatorp, who are not prepared to offer much at present prices." As an illustration of the cause of the recent low prices the firm points oyt that the total Imports of butter . for the season 1932-3, were 443,064 . • tops, compared with' 278,390 in t, 1925-6, ap Increase of nearly 60 per cent, Mr Hyland, director of the Australlan trade publicity, in a letter to the newspaper grocer, effectively replies to suggestions made in rnent by Mr G- Lambert and others that Australia by her export bounty on butter is unfairly -competing with the British dairy fanner. Mr Hyland points out that Aus-r tralian butter receives no bounty. The Australian butter seller does not fix the price In London, but has to accept the market rate. Mr Hvland cannot understand why attention l)asj Jiot been directed to other countries, including foreign, which send far more butter than Australia, some of which sells appreciably lower than Australian imports, of which In 1932 was only one-fifth of the total flnported by Britain,