HIGH FERTILISER PRICES

Press, Volume LXXXIV, Issue 25517, 10 June 1948, Page 7

HIGH FERTILISER PRICES

RESTRICTED USE FEARED BY MANUFACTURERS “The Press” Special Service DUNEDIN, June 9. At the annual meeting of shareholders of the Dominion Fertiliser Company. Ltd., this afternoon, the chairman of directors, Mr L. J. Stevens, in moving the adoption of. the annual report, referred to the removal of subsidies on fertilisers and the consequent increase in price. He pointed out that the removal of the subsidy coincided with big increases in, the cost of packing, and the industry was compelled to make use of paper bags imported at a high cost. Wages increases had also to be met at the same time. "The fertiliser industry as a whole,’’ Mr Stevens said, “views with alarm possible repercussions of such a steep increase in the price of superphosphate. It seems to the industry that it must inevitably lead to a restriction in its use.” The maximum price, he thought, should be £7 a ton. Naturally, he added, such a price could only be secured on the basis of a subsidy from the meat and dairy pools, or the Consolidated Fund. Earlier in his address Mr Stevens said that the company’s net profit for the year had amounted to £13,328, comapred with b net profit in the previous year of £11,595.

The dividend of 5 per cent, recommended by directors was approved.