S.M.P.s on wool $30M so far
PA Wellington Supplementary minimum price payouts on wool, are so far estimated at $3O million, with only 20 to 25 per cent of the clip in, and the Wool Board’s general manager, Mr Hugh Pearce, says the trend. $s likely to continue. 1 , ’ V The basic ’’reason for the /high S.M.P. was that farm /inputs such as fertiliser were /going up faster in cost than : the general rate of inflation. A, He gave the over-all aver- / age sale price so far as 276 c a kilogram but said that that t was influenced by the betterquality wools having already gone to sale. The weighted average would be less than that, at 269 c. The gap means that the Government ■' is paying farmers a 24.1 per cent supplement to bring returns up to the S.M.P. level. . The $3O million estimate is based on money committed, but farmers may not receive all the money before the beginning of next month.
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Press, 18 November 1981, Page 2
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164S.M.P.s on wool $30M so far Press, 18 November 1981, Page 2
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