DAIRY ACCOUNT

Evening Post, Volume CXXVI, Issue 59, 7 September 1938, Page 12

DAIRY ACCOUNT

ESTIMATED CREDIT

MINISTER MENTIONS

£500,000

UNSOLD PRODUCE

An estimated surplus of about is expected in the DairyIndustry Account for the past year by the Minister of Marketing (the Hon. W. Nash). In reply to crossexamination by members of the Opposition in the House of Representatives last night, when the Dairy Industry Account Vote was under consideration, he said that the actual surplus at September 1 was £291,706, and that there were still 14,000 tons of butter and 12,000 tons of cheese unsold. The Leader of the Opposition (the Hon. Adam Hamilton) asked for an estimate of how the account stood. Mr. Nash: There was a balance of £291,706 up to September 1. In reply to further questions, he said that that was the actual surplus' for what had been sold, and that the above quantities of butter and cheese were still unsold. The Rt. Hon. J- G. Coates (National, Kaipara) asked whether the £291,000 was the result of actual sales, and whether it was credit over and above all costs. Mr. Nash: It is estimated as closely as we can get to it. Mr. Coates: That is my point. It is an estimate. . ■ Mr/ Nash: We know the actual payment to farmers, but it is impossible to estimate to the £1 the expenses of selling. . In further reply to Mr. Coates, Mr. Nash said that the time it took to sell produce depended on stocks in London. Mr. Coates thought that the Minister might be able to give an approximate idea. Some people estimated two months and some two and a half months. They, would like to work out the amount in credit at the end of August. • Would it be fair to suggest that the unsold butter should be worked out at an average? Mr. Nash said it cost the Government 115s. He had worked out the sales at 118s. "When it is all credited," he said, "there should be something more than £500,000." Mr. Hamilton: How soon can we have the figures? Mr. Nash: The figures came by air mail, and I hope to publish them by the end of this month. Mr. Hamilton: Will the £500,000 give another bonus of &d? %

Mr. Nash: No. Mr. Hamilton: Has the Minister included the profits from local sales in that £500,000? Mr. Nash: No. There is likely to be a surplus of £100,000 in the Internal Marketing Account