CHEESE MARKETING.

Manawatu Standard, Volume LVII, Issue 207, 2 August 1937, Page 2

CHEESE MARKETING.

ESTIMATE OF PROCEEDS. MINISTER’S COMMENT. WELLINGTON, Ju!v _3O. A statement by Mr W."C. Green, chairman of directors of the Raiiotu Dairy Co. (Taranaka),' that the surplus in the cheese account of the Marketing Department for the oast year would he in the vicinity of £4,()0(),0t.-0, was replied to this evening uy the actuigMinister of Marketing (Hon. IV. J/ee Martin). The Minister sa.'d that he would have been very pleased had Mi Green’s figure been correct, but it was very wide of the mark indeed. Hie actual figure would be made 1 n.jwn as soon as it was possible :o no so. The Minister said that Mr Green war, apparently of the opinion that the guaranteed price was threepence below the market price, but had evidently not taken the prices for the whole year. The guaranteed price for cheese was equal to a London market price of approximately 61s 3d per cwt„ and the approximate monthly average London market cheese prices during the season were as follows :—October, 1936, 68s; November, 1936, 71s; December, 1936, 625; January, 1937, 555; February, 1937, 52s 6d; March, 1937, 60s; April, 1937, 67s 6d; May, 1937, 71s; June, 1937, 745; July, 1937, 71s 6d. It would be noted, said the Minister, that the heavy arrivals in the months of January, February and March met a market value below the guaranteed, price equivalent. Mr Green’s estimate of the profit in the cheese account was very much astray.