Dec. 1894.] EXTRACTS FEOM DIPLOMATIC AND CONSULAR 2B7 



REPORTS. 



fact that both England and France had little or nothing of the 

 above products to spare ; the trade having once begun, may be 

 found worth continuing. 



The prices of butter have been pretty good in spite of the fact 

 that Australia has already come into the market, and promises 

 to do so on a very much greater scale, as also Hungary, which is 

 to be helped by its Government for' the first 10 years by an 

 export premium, but it is hoped that Finland will be able, by 

 continuing to produce the very best article, to keep up its 

 reputation and prices. 



In connexion with the butter trade it may be mentioned that 

 it is contemplated to provide the port of Hango with another 

 ice-breaker in order to avoid a stoppage of navigation similar to 

 that which occurred in the winter of 1892-93. 



[Foreign Office Report, Annual Series, No. 1465.] 



The Rotterdam Oleomargarine Trade. 



Mr. Henry Turing, Her Majesty's Consul at Rotterdam, in a 

 report to the Foreign Office on the trade of that city in 1893, 

 states that the oleomargarine market experienced many and 

 wide fluctuations during the year, caused in the first instance by 

 moderate stocks in first, and small supplies in second hands, and 

 advancing prices of neutral lard, which circumstances combined 

 to bring about a speculative movement, and prices rose from 

 2Z. 16s. 3d to 3^. 7s. Qd. per cwt. within a very short period. This 

 resulted in larger shipments from America, and with a sharp 

 decline in the value of lard, coupled with dull markets for butter, 

 prices soon experienced a fall to 2L 12s. Qd. to 2^. lis. Qd. for 

 first and to 2^. 10s. to 2L 9s. for second quality, at which rates 

 manafacturers bought freely. The drought, which commenced in 

 April and continued uninterruptedly till the first fortnight in 

 July, caused prices of hay and other fodder to rise enormously, 

 and hence it was feared that butter would become scarce find 

 dearer, and the demand for margarine would thereby be con- 

 siderably stimulated. Under this impression, prices for first 

 qualities advanced to 21. 18s. and 2Z. 19s^., and a further consider- 

 able rise was looked for, when suddenly the financial crisis in 

 the United States broke out, and holders of goodfe v.. ere forced 

 to realise, causing values to recede to 21. lis. Qd. to 2/. 10s. lOcZ. 

 ,4. further decline was arrested through decreased sliipments 

 from America, but business remained quiet and was of little 

 importance, the margarine manufacturers holding ample stocks 

 of the raw material, whilst the strikes in the mining districts in 

 England unfavourably influenced consumption. In October 

 prices rose to 21. 19s\ 9(i., and in December the market closed at 

 21. 15s. Qd.j with an upward tendency. 



[Foreign Office Re2:)ort, Annual Series, No. 1446.] 



