PIG MARKETING

Poverty Bay Herald, Volume LXII, Issue 18758, 15 July 1935, Page 2

PIG MARKETING

ASSOCIATION’S PROGRESS SURPLUS IN YEAR THE ANNUAL REPORT Another successful year's activities from both the marketing and the financial angles is reviewed in a report issue* bv the New Zealand. Co-operative lig Marketing Association, Limited, covering its operations for the year ended Ma> the year over 111,COO pigs and 150.C00 bobby calves were handled, edict - lv for export to the United Kingdom. The turnover for the period, ot over £’36.CCC. exceeded that for the previous year by £36.CCC. The income and expenditure account shows that after allowing for all costs and charges ot collecting pigs, railage to works, loss on condemned pigs, freezing charges, freight to the United Kingdom (including marine insurance), selling commission and overseas charges, also office and administration expenses. £165.2c5 Es 7d remains available for suppliers. Advance payments made to suppliers following the'delivery of pigs have accounted' for C 147,236 lCs lid. Hus amount represents an increase on the company's advance payments for the. previous year, on approximately the samo number of pips, of over HB7SC. ibe average export parity values ruling lor | the period were lower tliau those !oi tin previous vear. In Deccmlicr last a second and final pavment was made on pigs received from June Ito (Ictoher 31. 1934. his payment alisorhed a furtlicr £5346 7s 2d. 'This shotvs an additional payment to suppliers of C4CO6 13s Cd. compared with last year. DISTRIBUTION T(.!- suppliers The usual provision lias also been uia<lc for payment up to capital, and 1 32d per pound on pork supplied has been appropriated ton special reserve fund for that purpose. This amounts to £l3lß Os 7d. This appropriation, compared with that provided m last year s accounts. has been reduced by halt to enable an increased shareholders cash bonus to be paid on supply qualified by shares. This will therefore be increased to 3/32d per pound, instead of the customary payment of !/16d. 'lbis has been made possible by the strengthened financial position of the association. After full provision lias been made for all the above, there remains for a final distribution to suppliers on pigs supplied from November 1 to the end of .May. the sum of £11.554 9s lid. The balance-sheet shows that the association is in a sound financial position, with its assets remaining substantially the same as last year. Stocks in freezers are small, particularly in view of the. large number of pigs handled. Most ol the pigs held in store arc merely awaiting delivery, either to 1 nited Kingdom buyers, or to local curing companies. By reason of the liquid position of its stocks, the association will ho able to effect the final payment to suppliers on or about , the date of the annual meeting, which ] will he held this year on August 1. or one month earlier than usual. INTERESTING COMPARISON , An interesting comparison is made of th? association’s final return with the export parity value of pigs as disclosed by the Meat Board’s official weekly ad- j vices. The results arc arrived at in respect of the fortnightly periods of f supply, taking the parity value ruling i three months later, which represents the actual average lapse of time from the s date of slaughter to delivery in United j., Kingdom ports. These calculations show | that owing to the association's various j marketing outlets, the net average re j turn on supply qualified by shares is , greater than the average parity values R ruling for the period. (| The report covers the eighth year of j the association's existence and the third s year’s operation since its reconstruction. The association’s activities have been ex- ( tended to cover practically the whole ot n both islands and it is now the only eo- ), operative meat marketing organisation b in Australia and New Zealand. It lias a nominal capital, of £25,000. Of this s ] over £14.000 has already been subscrib- 1, ed by supplier-members. It is nnticipnt- w ed that this will be. increased to at least si £15.000 by the allotment of shares ap- u plied for by new suppliers in respect of n the season under review. u The two retiring directors are Messrs. T W. If. Allen and T>. .T. l’irrit. who have been re-elected unopposed. 11