§ Mr. Dempseyasked the Minister of Agriculture, Fisheries and Food if he has received the Report of the National Board for Prices and Incomes on Margarine and Cooking Fats; and if he will make a statement.
§ Mr. Cledwyn Hughes:The report explains that, in view of the time available and the predominant position of Van den Bergh's and Jurgen's in the production of margarine and cooking fats, the N.B.P.I. concentrated its inquiries on that firm.
The N.B.P.I. concludes that, since the firm's price increases in January, there have been further substantial increases in raw material costs; and that, in the light of these, and their effect on profits, the board cannot say that the present relationship between prices and costs for the company as a whole is unjustified. The board also concludes that further increases in the firm's selling prices for margarine and cooking fats could only be justified by further significant increases in costs beyond those at present foreseen.
I accept the board's conclusions.