DAIRY INDUSTRY CONTROL

Wanganui Chronicle, Volume 80, Issue 275, 19 November 1937, Page 8

DAIRY INDUSTRY CONTROL

ACCOUNTS FOR PAST YEAR DEFICIT SET AT £548,750 SCHEME WELL RECEIVED [ Per Press Association. 1 WELLINGTON, Nov. 18. An estimated deficit in the Dairy Industry Account of £548,750 for the year wnded July 31, 1937, is disclosed in the annual report of the Primary Products Marketing Department, which was tabled in the House ot Representatives this afternoon by the Minister of Marketing (the Hon. W. Nash). The accounts, which cover all expert butter and cheese manufactured from August 1, 1936, to July 31, 1937, show that the estimated deficit on a total of 149,810 tons of creamery butter purchased by the Government is £561,397. The estimated surplus on 86,708 tons of cheese is £18,354, and the estimated deficit on 1446 tons of whey butter £5707. “The new marketing system has been favourably received by the trade as a whole,” stated the Minister. “Buyers, with the exception of those who were accustomed to operate from time to time on c.i.f., or f.o.b. terms, appreciate the change as the produce is offered to them freely through their usual channels of supply. All reports from our agents indicate their satisfaction and confirm the opinion that the goodwill of New Zealand stands very high in all overseas distributing circles.” In a section dealing with the Internal Marketing Division, which was established in February, the report states that the purchase of Messrs Picot Bros., Ltd., was made on a valuation basis and included the premises, plant and stock-in-trade. The purchase price is not revealed.