Record Honey Prices

Press, Volume CIV, Issue 30769, 5 June 1965, Page 18

Record Honey Prices

fN.Z. Press Association) WELLINGTON, June 4. Prices for honey on the overseas market rose to levels never before obtained, according to the annual report of the Honey Marketing Authority for the year ended August 31, 1964. The report, presented yesterday in Parliament by the Minister of Agriculture (Mr Ta I boys) says the “abnormal prices” for all honey on the j overseas market were a result of a general world shortage because of poor 1963 crops in Argentina, Mexico, Australia and Chile. | Overseas sales for the authority totalled £lBO 961 for 1022 tons, compared with £174,478 in 1963. i Net realisations from honey overseas transferred to the consolidated honey marketing account totalled £128,428 (£135,774 in 1963). Since the authority was established in 1953. overseas sales have been made almost entirely through a sole agency, the report says. During the last year the soleagency system has been the subject of thorough debate. “The authority is conscious

of its responsibility to negotiate the best terms available within the framework of the sole-agency principle,” the report says “and is conducting its policy with that aim in view.” The report warns that overseas high prices cannot be expected to continue. “There is every indication that prices are rapidly returning to the ■ low levels which prevailed in 1962.”

The best market for New! Zealand honey *is still in this country, the report says. “As long as this market is not oversupplied to the point where depression prices occur, the authority has a responsibility to its suppliers to ensure that a proportion of production is made available to the local market.” Intake of honey into the authority’s depots during the 1963-64 season was 1461 tons. 39 tons less than the previous season. A feature of the season, the report says, was receipt of a higher than average proportion of light-colour jhoney from the North Island. IA combination of factors resulted in the highest average 'seasonal grading since establishment of the authority. ; Average payout a pound lof honey accepted under the i pro-rata payment system was 13.91 d. This payment, the highest since the authority’s establishment, “presents a direct contrast to the 1961-62

season average payout of 11.12 d a lb, when exactly I the opposite conditions prevailed, both in low overseas returns and the lowest average grading experienced by the authority.” In the local honey market- | ing account, gross realisations from local sales totalled £71,106. Net realisations from honey sold in New Zealand or held in this country for local sale. transferred to the consolidated honey marketing account, totalled £69,235. In the consolidated honey marketing account, net real-

isations amounted to £197.663 for 1306 tons. Net realisations from honey marketing operations transferred to the general revenue account amounted to £210,237.