FROZEN MEAT EXPORTS

Press, Volume XCI, Issue 27563, 21 January 1955, Page 12

FROZEN MEAT EXPORTS

KILLINGS DOUBLED THIS SEASON

FIGURES TO JANUARY 1 (New Zealand Press Association) WELLINGTON, January 20. The New Zealand Meat Producers’ Board table of killings for the season October 1, 1954, to January 1, 1955, of frozen meat for export shows a sharp incerase over the total for the previous season. In all, 88,241 tons of meat was killed, compared with 41,833 tons in the 1953-54 season. The principal figures are

PRICE LEVELS IN NEW ZEALAND

WARNING BY LORD GLENCONNER

Continuing inflationary pressure in New Zealand is pushing up the internal price level and there is a danger that the whole cost structure is becoming too high, says the chairman of the National Mortgage and Agency Company of New Zealand, L.ord Glenconner, in his review accompanying the annual accounts. Any reduction of demand for the Dominion’s products, he states, would therefore be correspondingly serious at a time when New Zealand farmers should oe ready to face more competition from United Kingdom farmers, and the price fluctuations of a free market in meat. The company’s fixed assets had increased, states the chairman, and the casn position, while showing a slight decrease, remained strong. Holdings of Government

securities were increased as a result of an increase in debentures and funds arising from increases in clients’ credit The 12 per cent, dividend (final 8y 2 per cent.) requires £60,000. In addition to the net profit of £142,230, the sum of £20.000 taxation provision no longer required has been written back into the accounts.

COLOMBO TEA SALES (N.Z. Press Association—Copyright)

COLOMBO, Jan. 19. There was active general demand at the tea sale this week, when offerings totalled 7,104,2521 b. High-grown broken orange pekoe realised 370 cents''per lb; medium liquoring broken orange pekoe, 344; medium liquoring orange pekoe, 350; low medium broken orange pekoe, 339; low medium dust. 328.

as follows:— Oct.l Jan. 1 1954-55 1953-54 Tons Tons Lamb. c/cs. .. .. 54,365 29,590 Wether .. .. 8,786 2,399 Ox, heifer, beef, qts. .. 3,410 3,187 Chilled beef, qtrs. .. 2,554 — Porker sides .. .. 540 728 Baconer .. .. 664 1,033 Chopper .. .. 40 — Total export killings .. 88,241 41,833