THE GUARANTEED PRISE

Te Awamutu Courier, Volume 56, Issue 4064, 24 June 1938, Page 6

THE GUARANTEED PRISE

INCREASES ANNOUNCED. MINISTERIAL STATEMENT. The Government’s intention of increasing the basic price of butter by .41d per lb, which will mean a payment of 13.66 d per lb was announced I'” the Minister of Marketing’, the Hon. W. Nash, at the National Dairy Association Conference at New Plymouth on Wednesday afternoon. “We propose to increase the price of cheese from the present 7.54 d per lb to 7.75 d per lb, an additional .21d per lb,” the Minister stated. “These extra sums should for the average dairy factory result in an added pay-out of id per lb butterfat for both cheese and butter, so that the average nay-out should be for butterfat for butter at least 14.38 d. It will probably be Is 2id for butter and 16.38 d for cheese. “The procedure proposed for the distribution of the adjusted pay-out will be to buy the butter and cheese shipped up to June 30 at the present price of 135 d per lb for butter and 7.54 d per lb for cheese and then to distribute to all suppliers a further pay-out for all butter made after July 31, 1937, and shipped prior to June 30, 1938 of .41d per lb, bringing the total price for the year up to 13.66 d per lb for butter. “Shipments after June 30 will be paid for at this rate of 13.66 d per lb for butter. The pay-out up to June 30 will be 7.54 d and there will be a special payment for an adjustment of .21d per lb for all cheese exported after July 31 of last year and before June 2so of the present year. After June 30 of the year and covering the make up to July 31 all cheese will be purchased at 7.75 d per lb. “On present evidence this should result in a pay-out for the year amounting to 14.38 d per lb for butterfat for butter and 16.38 d per lb butterfat for cheese In all probability both these pay-outs will be exceeded on the average.” The Minister added that the total cost involved in the additional payment for butter and cheese would be £815,349, and this would be met from an estimated surplus of £928,566 in the Dairy Industry Account, leaving a final estimated surplus at the close, of the season next month of £113,217. FIRST IN WAIKATO. TE AROHA-THAMES VALLEY CO. The first progress payment on the dairy bonus to be paid out by dairy companies in the Waikato, was made by the Te Aroha-Thames Valley Co. on the 20th, when id per lb on all butterfat supplied up to the end of May, was made. This brings the total payment for the season up to 13id. MAUNGATUROTO PAY-OUT. ACTUAL INCREASE IN COSTS SHOWN. Suppliers to the Maungaturoto Dairy Company, Limited, this year will receive a bonus of 2d, making the total pay-out for the past season 14.330 d per lb butterfat net return to farmers. The pay-out for the whole season will reach £131,187. The total cost from farm gate to loaded on ship is 2.187 d, as compared with 2:043d for the previous season, an increase of .144 d per lb fat.