DAIRY PAYOUT

Wairarapa Times-Age, 23 June 1938, Page 7

DAIRY PAYOUT

AN EXTRA £815,349 TO BE DISTRIBUTED FINANCE MINISTER’S ANNOUNCEMENT.’ TRIBUNAL TO FIX FUTURE PRICES. (By Telegraph—Press Association.) NEW PLYMOUTH, June 22. The distribution to the dairy industry of a payment of approximately one halfpenny a pound of butterfat from the surplus proceeds of all butter and cheese sold during, the current season was announced by the Minister of Marketing, the Hon W. Nash, when opening the National Dairy Conference at New Plymouth today. This is to be done by increasing the guaranteed basic price for butter by ,41d a pound to 13.66 d a pound, and by increasing that for cheese by .21 d a pound to 7Jd a pound. These adjustments are expected to absorb £815,349. Figures showing the estimated surplus as a result of this season’s marketing operations were given by Mr Nash. Realisations from sales of butter and cheese overseas and on the local market are expected to result in a net surplus of £928,566. Of this sum £lOO,OOO represents the estimated surplus in the local marketing account. Assuming the estimates are sustained, there will remain a surplus of £113,217 after the additional payouts have been made to the industry. The actual surplus a few days ago was stated by Mi’ Nash to be £633,470. He said that last season’s deficit was £272,108. The intention of the Government to appoint a tribunal consisting of a judge, a Government representative and a representative of the industry to fix the guaranteed price in future was also announced by Mr Nash.