PRICES FOR EXPORTS

Press, Volume CI, Issue 29829, 23 May 1962, Page 14

PRICES FOR EXPORTS

Manipulation Alleged (N.Z. Press Association) AUCKLAND, May 22. The fact that such a major tonnage of produce was in the hands of so few firms left great scope for them to manipulate overseas markets and influence the price paid to the producer in this country, said Mr A. H Coombe. chairman of the meat and wool section of Auckland Federated Farmers. today. In his annual report, he said there appeared to be growing evidence that the price on the wholesale markets overseas was being kept to a minimum and these exporters, who had substantial interests on the retail side in the United Kingdom, were taking a substantial profit between the wholesale and retail point. . “This, in itself, would be serious enough, but with the operation of a floor price scheme in New Zealand, the internal effect can be that any payment under this [scheme to reimburse producers receiving low schedules, from pool funds, could, in fact, be an extra payment by way of profit to the exporter,” he said This could mean serious depletion of the funds without the producer receiving any real benefit, said Mr Coombe.