Economic and financial section > Agricultural crisis > Volume 1

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Subsequently they declined comparatively slightly, and, in December 1930, were
about 25 per cent higher than before the war.
During the last few months, the dairy-produce market has shown signs of over¬
production. Most countries have raised their milk production to such an extent that
a further increase is no longer desirable. Since 1928, the prices of milk, butter and
cheese have been falling. The position of the butter producers would appear to be
particularly difficult.
Judging by the high price-level at which these products were maintained, even
during the first months of the present industrial depression, it would appear that there
was an increased demand on the part of the consumers. The drop in the last few months
would in this case be the immediate result of a lowering of the general standard of life
during the economic depression; it is therefore probable that prices will show a rising
tendency as soon as the general depression is overcome.
Eggs.
The egg market remains very firm judging by the prices obtained for Danish eggs
in London.
Sources : International Year-Book of Agricultural Statistics, Rome ;
The Agricultural Market Reports, London.
The general price level from 1926 to 1928 was about 50 per cent higher than before
the war, and the rates in 1930, notwithstanding considerable seasonal fluctuations,
were maintained around this average high level, in spite of the general depression.
The production figures are very defective ; but the information available seems
to show that production has greatly increased. In the few countries for which estimates
are available in respect of 1913 and 1929,1 the annual production of eggs increased from
5,349,000,000 to 10,892,000,000 so that it had more than doubled. These figures are
too fragmentary to give a reliable idea of the general tendency of production, but,
in view of the firmness of the market, they seem to show that a definite change has
taken place in the consumers’ habits and that the general depression has not materially
decreased the demand for this article.
t 1 Denmark, Irish Free State, England, Wales, Scotland, Norway, Switzerland
from the International Year-Book of Agricultural Statistics.
Canada, Japan ; figures