PRICES UNDER LEASE-LEND

Evening Post, Volume CXXXVI, Issue 136, 6 December 1943, Page 3

PRICES UNDER LEASE-LEND

"While not undervaluing the security afforded farmers of a guaranteed price under war conditions, and the desire to help Great Britain in her gigantic struggle, I cannot escape the conviction; which I know is shared by many, that Insufficient care has been taken by those responsible for the negotiations to protect the farmers against, increasing costs, labour shortage, and many disabilities!" said Mr. J. T: Martin, chairman of Abraham and. Williams, Ltd., in his address at the annual meeting of shareholders. "There appears to be little or no resiliency in the agreements, and farmers are unable to secure increases in prices to which, in the circumstances, they are justly entitled."

■Mr. Martin explained that New, Zealand bought American goods, in dollars, which at present ruling exchange cost New Zealand' 6s Id. We sold to U.S.A. bur products at the same price as we sold ito Great Britain, and with very little modification, at the same prices guaranteed and fixed at commencement of the war. Not only were our prices in the circumstances extremely low, . but we were buying American goods under lend and lease conditions at exceptionally high prices.

"The following are the f.o.b. prices at which we sell some of our products to U.S.A.'and the f.o.b. prices for the same products quoted by tlie U.S.A. for shipment from their ports:— N.Z. wool 14d per lb, U.S.A. 27.1 d per lb; N.Z. lamb 9d per lb, U.S.A. 19.4 d per lb; N.Z. pork 7d per lb, U.S.A. 13.5 d per lb; N.Z. butter ls 4y 2 d per lb, U.S.A. 2s lO^d per lb; N.Z. cheese SV s d per lb, U.S.A. Is 8d per lb. We seem to be mixing up sentiment with business and instead of negotiating on sound business lines derive some measure of satisfaction from selling our goods under market value. ■

"These comments will not, "-I hope, obscure the fact that we are all devoutly thankful that, with very few exceptions, all we have produced has been shipped to its destination, that Britain still commands the great ocean routes, and that we have been called upon to make so few sacrifices."