H.—3o.

1939. NEW ZEALAND.

PRIMARY PRODUCTS MARKETING DEPARTMENT ANNUAL REPORT AND ACCOUNTS.

Presented to both Houses of the General Assembly pursuant to the Provisions of the Primary Products Marketing Act, 1936.

I have the honour to submit the annual report and Statement of Accounts of the Primary Products Marketing Department for the year ended 31st July, 1939. This report is presented in two sections, the first section covering the operations of the Dairy-produce Export Division of the Department, and the second section covering the operations of the Internal Marketing Division of the Department. (1) DAIRY-PRODUCE EXPORT DIVISION. (For the Year ended 31st July, 1939.) REVIEW OF COMPLETED FINANCIAL OPERATIONS FOR 1937-38 SEASON. When the annual report for the year ended 31st July, 1938, was prepared, unsold stocks of the season's produce were taken into the accounts at estimated sales values as under : — Creamery butter: 994,638 boxes. Estimated sale value : 116s. Id. per hundredweight sterling gross. Whey butter: 5,468 boxes. Estimated sale value : 108s. I Id. per hundredweight sterling gross. Cheese : 302,050 crates. Estimated sale value : 70s. Id. per hundredweight sterling gross. On the basis of these valuations for dairy-produce unsold, the surplus in the Dairy Industry Account for the 1937-38 season was estimated, to the nearest pound, to be as follows : — £ £ Estimated surplus on creamery butter .. .. .. 443,398 Estimated surplus on cheese .. .. .. .. 100,447 Plus estimated surplus on whey butter .. .. .. 11,340 111,787 Estimated surplus, Dairy Industry Account, 1937-38 season .. .. £555,185 The actual realizations in respect of the above-mentioned produce exceed the estimate in the case of butter but were below the estimate for cheese, the average sale prices being as follows Creamery butter : 117s. 4d. per hundredweight sterling gross. Whey butter : 110s. 2d. per hundredweight sterling gross. Cheese : 695. 3d. per hundredweight sterling gross.