MARKETING ACCOUNTS

Lake County Mail, Issue 9, 23 July 1947, Page 2

MARKETING ACCOUNTS

Export Division Report The annual report of the Export Division, Marketing Department, has now been released. Primary producers are, therefore, able to see for themselves the true financial picture of their export trade, an opportunity that comes to them only when the report is issued. Two accounts in particular tell the financial story of the dairy industry. The Dairy Produce Account, first established when the guaranteed price was instituted, shows the surplus from the sale of the season’s produce after payments to the producer have been made. Except for deficits of £276,850 on the 1936-37 season’s price, and of £2,514,889 on the 1938-39 season, that •account has shown an anuual surplus and the present balance, or the net surplus from the commencement of purchase up to July 31, 1946, is now £2,605,444. From previous years’ accounts, £1,492,098 was transferred to the Dairy Industry Stabilisation Acount and a further £1,113,346 was transferred for 1945-46. The Dairy Industry Stabilisation Account, which showed a credit balance of £4,675,446 at July 31, 1945, now has'a balance of £4,703,240. To last balance has been added the proceeds : of increases in sale prices of produce sold to the United States Army, £68,422; an amount of £144,029 transferred from the purchase and sale account, 1944-45 season; a further £5,823,468* from that same revenue account for 1945-46 and the balance of £1,113,340 from the Dairy Produce Account, 1945-46. Against these credits have been set the dairy factory and farm-costs allowance, subsidies on fertilisers, cheese-crate and butter-box payments, increased storage costs and costs of dairy factory requisites, etc., leaving a balance at July 31, 1946, of ' £4,703,240, an increase for the year of £27,794. The meat industry accounts of interest are the Meat Industry Stabilisation Account and Meat Pool Account. Into both, however, must be read the Purchase and Sale Account for the season’s killings which shows that of the profits, the proceeds of increase in sale priebsj Of meat after stabilisation date of December 15, 1942, (£3,333,068) less the amount of increases in the purchase prices of meat after October 1, 1944 (£1,916,781), a net amount of £1,416,287 was transferred to the Meat Industry Stabilisation Account. The remaining surplus of £1,342,026 was carried to the Meat Pool Account. The Meat Pool Account at July 31, 1946, showed a credit balance or total surplus of £8,931,174, an increase of £2,685,761 for the year. The Meat Industry Stabilisation Account shows a surplus of £3,270,754 or an increase of £357,083, .made up by setting off the agreed subsidy payments against the various surpluses credited to the account. The Bobby Calf Pool Account is also in credit to an amount of £292,566, while the Bobby Calf Stabilisation Account has a credit of £145,898 at July 31;, 1946. With the withdrawal of the freezingworks subsidy recently announced and the. cessation of the local market subsidy of £400,000, the Meat Industry Stabilisation Account should show a larger increase of balance for the 194647> season, now nearly ended. 4K ■ . The Tallow Account shows a surplus of £5,705 and the Hide Account a deficit of £l2. Sheep-skin control showed a grow eurpuls of £27,342.