A RECORD SEASON

Sun (Auckland), Volume III, Issue 739, 12 August 1929, Page 10

A RECORD SEASON

N.Z. CO-OP DAIRY COMPANY INCREASE IN OUTPUT A record season was experienced by the New Zealand Co-operative Dairy Company, according to the report to be submitted to the annual meeting of suppliers scheduled for August 21. The company’s output over the past three years is shown as follows:

The policy of consigning butter and cheese for overseas markets lias been followed by the company during the season, continues the report. Adherence to this policy has in some instances resulted in slightly lower returns than have been obtained by f.o.b. sellers, although the ultimate result has been to maintain relatively stable prices throughout the season. On January 15, 1929, nine of the company’s cheese factories commenced the manufacture of standardised cheese. The results have been so favourable that the directors have decided to discontinue the manufacture of full-cream cheese during tlie coming season and to manufacture only standardised cheese. New cheese factories at Te Puninga and Waitakariiru were erected during tlie season and commenced tlie manufacture of cheese in October and December respectively. The company’s buildings, plant and machinery have, during the year, been maintained in a state of thorough working efficiency and are throughout in excellent condition. The colliery has been worked without appreciable loss of time and with successful results. The New Zealand Dairy Finance Company, Ltd., has, by the assistance given to supplieifj during the season, been of considerable benefit to the parent company. The advantages arising from the rural intermediate credit scheme have been made available to a number of the company’s suppliers during the season, and the advances from this source made up to May 31 totalled £96,000. Average Payment of 18.4 d The average price advanced for but-ter-fat received for butter-making during the season was 16.918 d. The total average price for butter-fat of superfine grade will be 18.410 d. In addition, the payments made by the company for subsidy on cream cartage and railage on cream amounted to ,198 d, thus further increasing the average price at central factories for superfine butter-fat to 18.608 d. Cheese factories will, in accordance with their respective manufacturing results receive varying payments. All these prices are conditional upon unsold produce realising at sale the value placed upon it for balance purposes. Casein suppliers have, in addition to butter payments, received an average premium of 2.135 d a lb butter-fat. They will also be credited with .5d a lb, butter-fat share capital and will, as soon as possible, be paid in cash a bonus of .25d a lb butter-fat.

Milk powder suppliers have, in addition to butter advance, received the usual premiums for skim milk.

1026-27 1927-2S 1928-29 Tons. Tons. Tons. 25,772 26,072 27,195 5,010 4,250 767 714 Milk powders 4,114 4,110 4,341 Condensed milk — 183