A BUTTER POOL

Timaru Herald, Volume CXXXVII, Issue 19394, 19 January 1933, Page 14

A BUTTER POOL

BONUS OF 2d PER LB. SUGGESTED. By Telegraph—Press Association WELLINGTON, January 18. A unanimous vote in favour of the adoption of the scheme proposed by Mr A. J. Sinclair, secretary-manager cf the Te Awamutu Co-op. Dairy Co., for the stabilisation of butter prices on the local market, was passed at a meeting of the Farmers’ Union Executive. Mr Sinclair said the scheme suggested, commencing on a basis of computation for the local market, should be f.o.b. parity of export butter, and a fortnightly adjustment should be made in the local price, based on the average realisations of New Zealand butter on the London market during the previous fortnight. Dairy Companies would get the f.o.b. parity, plus the cost of patting and distribution, and the whole industry should share the additional revenue of £400,000 by the establishment of a fund, into which each company would make monthly payments on a basis of 2d for each lb of butter sold locally. The fund would be distributed at the end of the season to every butter making company in proportion to the total output. The scheme would involve an average household in an additional expenditure of 6d a week.