BUTTERFAT PAYMENTS.

Auckland Star, Volume LVIII, Issue 46, 24 February 1927, Page 4

BUTTERFAT PAYMENTS.

ADVANCES BY BOARD

BENEFITS FROM LARGE OUTPUT

The New Zealand Dairy Produce Board, at its meeting in Wellington yesterday, decided to nake a further advance payment of £90,000 to dairy companies on March 1 in respect of the butter pool ■which covers produce graded between September 1 and October 30 last, totalling 404,839 boxes. Of this quantity 75 per cent has been sold. The advance to be made will make the amount advanced on this produce so far 1/2% per lb. The final realisation on the pool will depend upon the return for the unsold balance.

A further payment upon cheese will be made as soon as the surpluses from realisation constitute a divisable amount. This means that progressive payments will be made as surpluses permit, and suppliers will not have to wait until the end of the pool for further payments.

The extra production for the first half of the season over the corresponding period last year, on to-day's approximate prices, represents an extra return of £800,000 to the Dominion over the figures for last season. The advance value on January's production, as distributed to suppliers through dairy companies on February 20, was approximately £2,000,000, allowing for grade premiums. Of this sum £1.297,000 is in respect of butter, and the balance in respect of cheese.