N.Z. Co-op Dairy Exports Up £6m

Press, Volume CIV, Issue 30811, 24 July 1965, Page 17

N.Z. Co-op Dairy Exports Up £6m

(New Zealand Press Aseociationj

AUCKLAND, July 23. Exports of the products of the New Zealand Co-operative Dairy Company, returned over £6m more in the 1964-65 season compared with the previous period, said the general manager (Mr A. H. Woolven).

Confidence in the dairy industry had been greatly restored, he said. Gross turn-over of the company rose £7m to £48.3m. Notwithstanding some anxiety concerning the immediate prospects for butter in Britain, the growth of sales in markets outside that country and the strong demand for milk powders and casein should encourage further production and expansion of milk collection. The results for the season just ended reflected two significent factors, Mr Woolven said.

These were the very favourable weather experienced throughout the whole of the season and improved prices for dairy products in general, particularly non-fat milk products such as skim milk powder and casein.

The company has announced a final payment on cream of 5.4543 d per lb, including a shareholders’ payment of 0.75 d per lb, making a total payment on cream ‘ 36.30 d at farm gate.

Milk suppliers will receive a final payment of 9.8538 d per lb, also including a shareholders’ payment of 0.75 d, making a total of 43.30 d per lb, at farm shed or 44.05 d delivered to factory stage in cans.

All these payments include the end-of-season payment of Id per lb butterfat due to all dairy companies from the 1964-65 dairy industry trading account.

Town milk suppliers will receive payments based on the national milk price. In determining the final payments to suppliers, the directors of the company had regarded the company’s substantial capital requirements to meet expansion, said Mr Woolven.

While the level of appropriation from current accounts for this purpose had been substantial, the financial needs of dairy farmers to further develop and expand their production had been equally recognised.