NO BENEFIT
A WEIGHTED AVERAGE
INCREASED COSTS
(By Telegraph.—Press Association.)
CHRISTCHURCH, Augusts.
The guaranteed; price for dairy produce is not the . accepted average fpr the last eight years to 10 years, but "is a weighted average, according to Mr. C. P. Agar, managing director of the Tai Tapu Dairy Company, and a member of the" former. Dairy Board. "The farmer will be .bitterly disappointed," Mr. Agar said. "The1 true price average over the last eight years was 12.76 d; over nine years, -i3.03d; and over 10 years, 13.59 d. ■'..■■■:
"It is difficult to understand how the price was arrived at, especially in view of the statement by Mr. Nash, at Hastings, that the guaranteed-price would be a' generous price, and further that it would be a better price than for last season. The general expectation was that the price would be Is ljd, but when the Minister said the average would be given a generous interpretation ideas.of the price rose to Is V2d.
"I have:yet to meet the person in the dairy industry," Mr. Agar said, "who expected less . than Is lsd. One can only conclude that the price is not an average, but a weighted average, the net result of which is that dairy farmers will receive an increase in the cost of production with no benefit under the Government's policy of guaranteed prices."
NO BENEFIT
Evening Post, Volume CXXII, Issue 32, 6 August 1936, Page 10
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