MILK EXPORT PRODUCTS

Wanganui Chronicle, Volume 80, Issue 101, 30 April 1937, Page 8

MILK EXPORT PRODUCTS

PAYMENT FOR BUTTER-FAT REGULATIONS AS TO PRICE METHOOD OF COMPUTATION [ Per Press Association. ] WELLINGTON, April 29. Prices payable for butterfat contained in milk supplied for the manufacture of certains export milk products containing a substantial percentage of butterfat are to be assessed on the basis of a guaranteed price for dairy produce. The procedure for ascertaining these prices is defined in regulations issued as an Order-in-Council this evening. The method proposed for the payment of such prices is as follows: As soon as possible after July 31, 1937, the Minister of Marketing shall ascertain the average rate at which the owner of a reasonably efficient butter factory could have paid for butterfat, in milk or cream delivered during the current manufacturing season, for the manufacture into creamery butter, calculated on the basis of the guaranteed price payable for creamery butter intended for export and acquired by the Crown pursuant to the Primary Products Marketing Act. The Minister shall also ascertain the average rate at which the owner of such a buter factory could have paid for the butterfat, in milk or cream delivered during the same period, for manufacture into creamery butter, calculated on the basis of prices actually received for creamery butter sold in the United Kingdom if the milk or cream delivered had been manufactured into creamery butter and such butter had been sold in the* United Kingdom at those prices. The average rates so ascertained by the Minister are to be accepted by all parties as final and conclusive.

If it appears that the average rate, ascertained on the basis of the guaranteed price payable for creamery butter, is greater than the average rate based on the prices actually received for creamery butter sold in the United Kingdom, then the Minister shall pay out cf the Dairy Industry Account to the manufacturers of special milk products the amount of such difference, calculated on a total quantity of butterfat contained in the whole milk purchased by them for manufacture of the special milk products exported from New Zealand. If, on the other hand, the average rate, based on the guaranteed price payable for creamery butter, is less than the average rate based on the price actually received for creamery butter sold in the United Kingdom, then th a manufacturers of special milk products shall pay to the Crown the amount of such difference, calculated as aforesaid.

Manufacturers of special milk products are required to furnish to the Minister, or other duly authorised person, all such statements and other information, and to produce for speclion all such books, records and documents as may be deemed necessary to enable the amount payable to, or by, each of such manufacturers to be correctly computed.