DEFICIENCY PAYMENT

Press, Volume C, Issue 29682, 28 November 1961, Page 18

DEFICIENCY PAYMENT

Announcement For Lambs (H2. Press Association) WELLINGTON, Nov. 27. The Meat Export Prices Committee today announced a deficiency payment of l-4d per lb on lambs killed for export. The announcement z comes after the second cut in the meat schedule within a fortnight and was expected by the meat trade. Already the committee has announced the start of deficiency payments on wethers and hoggets. The last time deficiency payments were made for lamb was for a brief period at the beginning of the 1959-60 season, a spokesman for the New Zeeland Meat Producers’ Board aaid today. Since the scheme began in 1955 there had not been a substantial payout for lamb, he said. Deficiency payments are made from the Meet Industry Account on the decision of the Meat Export Prices Committee. The account now stands at more than £40,000,000. comprising funds belonging to the industry. In the interests of stability the money was withheld from farmers during the war and post-war years. Today’s announcement said the following deficiency payments would be paid on lambs, wethers and hoggets killed for export during the week ending December 2. 1961:—Lambs, l-4d per lb; wethers and hoggets id per lb.