BUTTER-FAT PAYMENTS

New Zealand Herald, Volume LXX, Issue 21554, 27 July 1933, Page 12

BUTTER-FAT PAYMENTS

NEW ZEALAND COMPANY RATES FOR PAST SEASON STATEMENT BY MR. PARLANE [from our own correspondent] HAMILTON, Wedncsdny An average payment of over per lb. superfine butter-fat to butter suppliers and an average of over 11<1 per lb. butter-fat to cheeso suppliers will bo inado to shareholders of tlio New Zealand Co-operativo Dairy Company, Limited, for the 1932-.'}.'] season. Referring to the payments, the general manager, Mr. C. J. Parlane, said that tho deferred payment, or bonus, to bo paid to butter suppliers at the end of August, would make a total, payment to direct delivery suppliers for finest quality butter-fat, including cartage subsidy, of 9.7-}9od per lb., and to suppliers who used a cartago service 9.6347 d per lb. Tho final payment would bo disbursed as follows: —A cash payment to all suppliers of .785(1 per lb. 011 November and December supply; .285 d per lb. on January supply; 1.285 d per lb. on February supply; 1.785 d per lb. on March and April supply. Subject to tho realisation of stocks, .290 d per lb. would bo paid on tho May supply. In addition to this, a shareholders' bonus of .375 d per lb. butter-fat would bo paid over tho full season, to suppliers holding tho qualifying number of shares. Mr. Parlane said tho final payment to cheese suppliers at tho various cheeso factories would bo from 10.649 d per lb. to 11.617 d per lb. butter-fat, tbo average over the company's 18 cheese factories exceeding lid per lb. for finest quality butter-fat. . Tho general manager added that in accordance with tho usual policy the whole of tho produce exported to the United Kingdom by his company had been shipped on consignment, and when this fact was taken into consideration the payments to bo mado to both butter and cheeso suppliers must bo regarded as very satisfactory indeed. He said that, as usually happens on a falling market, f.o.b. sellers had a distinct advantage, but, unfortunately, tho factories which adopted this method of disposing of their produce bad gained at tho expense of tho industry as a whole. . "It is encouraging to note, he concluded, "that this fact is now beooming generally recognised, and it is possible that in tho not far distant future this disability in tho industry will be overcome." The company's average payments per lb. for superfino butter-fat for buttermaking for the last five seasons are as follows:—1928-29, Is 6.605 d; 1029-.30, Is 4 292 d; 1930-31, 12.569 d; 1931-32, 11.915 d; 1932-33, 9.7490 d.