Christmas bonus from P.P.C.S

Press, 18 December 1982, Page 20

Christmas bonus from P.P.C.S

Primary Producers Cooperative Society, the large South Island-based meat exporter, has announced payments above full schedule to its suppliers for the 1981-82 season of $2,322 million. P.P.C.S. • said yesterday that payments to" farmers would be made immediately. By doing so it has distributed a Christmas bonus to farmers which other freezing companies operating in Canterbury are at present unable to match. P.P.C.S. chairman. Mr R. A. Burnside, said that rebate rates of payment above full schedule were: lamb, 65c a head; mutton, 25c a head: prime beef. $1.60 per 100 kg and manufacturing beef, $1.05 per 100 kg. “The prudent policies of P.P.C.S. over the past 10 years are now confirmed as the correct way of remaining able to represent South Island farmers in the international marketplace," said Mr Burnside.

"For some companies the 1981-82 year may have been a disaster, but P.P.C.S.. with its strong cost controls, financial strength and market penetration, is in a position to continue to serve South Island farmers in a most effective manner." he said. The managing director of. Waitaki N.Z. Refrigerating, Ltd. Mr A. R. Hutton, said yesterday that the remainder of his company’s 1981-82 meat pools would probably not be finalised until March or April, 1983. This was because tonnages of old season's lamb in store in the United Kingdom would probably not be sold until March and payments for the 1982 Iranian contract would not be finalised until that time. . • “All the 1982 Iranian lamb has been shipped,” he said, “but the final tankerful of oil (involved in the lamb-for-oil deal) will not be lifted until January and payment not received until February.

Then the normal disbursements will be cleared during March, freeing the money to the Meat Board and then to exporters." Waitaki had paid out its first pool during the 1981-82 season, but the remaining pools had all shared in the Iranian contract. “Unfortunately there won't be any Christmas payouts to farmers from the company's pools this year." said Mr Hutton. The general manager of N.C.F. Kaiapoi. Lid. Mr K. Pearce, said his company was in the same position as Waitaki. The general manager of Canterbury Frozen Meat Co. Ltd, Mr J. J. Drayton, said his company would begin finalising its 1981-82 pools from January onwards. Fort Export, Ltd. a Canterbury farmers' co-opera-tive, announced in its recent annual report that $44,872 of profits would be distributed above full schedule.