N., Cropper’s Study Of Maize Industry

Press, Volume CVI, Issue 31349, 20 April 1967, Page 13

N., Cropper’s Study Of Maize Industry

(New Zealand Press Association)

AUCKLAND, April 19.

Neill, Cropper Holdings, Ltd., Auckland merchant, manufacturer, and flour miller, is investigating the maize industry in New Zealand jointly with the Corn Products Company of the United States, a large manufacturer of glucose and other maize starch products.

Gisborne, Bay of Plenty, and Northland areas are being studied for maize growing, and the final location of the industry would depend on the long-term prospects in those areas, Neill, Cropper directors say. Much market and technical research has been done over the last 18 months.

Neill, Cropper Holdings owns the two starch factories operating in New Zealand— N.Z. Starch Ltd. (Auckland), and Starch Products, Ltd. (Christchurch). These use wheat flour—of

which the group is a major producer through its subsidiary, Northern Roller Milling Company, Ltd.—as a base raw material. The substantial rise in the price of flour after the removal of subsidies has given an impetus to research into the feasibility of producing starch and starch products from maize, the directors say.

The new maize starch industry would operate in conjunction with the existing wheat starch industry which, as a by-product, produces the country’s entire requirements of gluten for bread manufacture.

The present annual production of the two wheat starch factories is 6000 to 7000 tons of industrial and other starches and 1200 tons of edible gluten, representing a saving of about £600,000 in

overseas exchange, they say. Annually New Zealand uses starch products, including glucose, dextrines, adhesives and other starches, totalling about 17,500 tons. About 40 per cent of the starch and glucose tonnage is consumed in the Auckland district The two companies named, through their subsidiaries, already supply about 80 per cent of the total requirements by import or local manufacture. Corn Products Corn Products Company, which has shareholders’ funds of £l2Bm, has annual sales exceeding £357m from factories all over the world.

It is deeply involved tn agricultural research With hybrid maize and these resources would be used in the New Zealand project, directors say. The project is not connected with the planned £1 million maize processing industry in the Gisborne area.

Golden Bay Cement Co., Ltd. — Interim dividend 5 per cent; ex dividend April 27. (Last year interim 5 per cent, total 11 per cent.)