DAIRY ACCOUNT

Evening Post, Volume CXXIV, Issue 121, 18 November 1937, Page 10

DAIRY ACCOUNT

REPORT PRESENTED

ESTIMATED DEFICIT OF* ' £548,750

Aii estimated deficit in the dairyindustry account of £548,750 for the year ended July 31, 1937, is disclosed in the annual report of the Primary Products Marketing Department, which was tabled in the House of Representatives this afternoon by the Minister of Marketing (the Hon. W. Nash). The accounts, which coyer all export butter and cheese manufactured from August 1, 1936, to July 31, 1937, show that the estimated deficit on a total of 149,810 tons of creamery butter purchased by the Government is £561,397; estimated surplus on 86,708 tons of cheese, £18,354; and the estimated deficit on 1446 tons of whey butter, £5707. "The new marketing system has been favourably received by the trade as a whole," states the Minister. "Buyers, with the exception of those who were accustomed to operate from i time to time on c.i.f. or f.o.b. terms, appreciate the change, as the produce is offered to them freely through their usual channels of supply. All reports from our agents indicate their satisfaction, and confirm the opinion that the good will of New Zealand stands very high in all overseas distributive circles." PURCHASE OF PICOT BROS., LTD.

In the section dealing with the Internal marketing Division, which was established in February this year, the report states that the purchase of Picot Bros., Ltd., was made on a valuation basis and included the premises, plant, and stock-in-trade. The purchase price is not revealed.