Britain Pays Australia Less Than NZ. For Dairy Produce

Grey River Argus, 3 September 1948, Page 5

Britain Pays Australia Less Than NZ. For Dairy Produce

LONDON, Sept 1. The Ministry of Food announces that it has reached an agreement with the Australian Government to purchase Australia’s exportable surpluses of butter and cheese until June 30, 1955, less small agreed yearly quantities for other markets. The contract replaces the agreement which expired on. June 30, 1948. The prices for the 1948-49 season wil] be 233 s 6d sterling per hundredweight F. 0.8., for butter and 131 s 6d sterling per hundredweight F. 0.8. for cheese. (The contract price for New Zealand butter bought by the Ministry of Food in the current season is 235 s per cwt. in both sterling and New Zealand currency). The new agreement provides for an annual review of the prices. It also allows for a meximum variation in any season of 75 per cent, above or below the price for the preceding season. * A Ministry of Food spokesman said the new prices represented an increase of 30s per cwt. for butter and. 15s for cheese. The increase, which followed a similai- rise in the price of New Zealand produce was caused by the increased cost of production.