chapter  23
19 Pages

THE PRICE POLICIES OF THE MARKETING BOARDS (II)

The price policies of the marketing boards were described in Chapter 22 ; the principal implications and results of these policies are examined in this chapter.

In 1948-9 the Gold Coast Cocoa Marketing Board made the trifling 'loss ' of E~oo,ooo which was a fraction of I % of its accumulated surpluses or of its annual turnover. Following this very small draft on its reserves the Board reduced the producer prices by 30% and in the following year made the huge surplus of E18 m. This was only one instance of the insistence of the marketing boards on the accumulation of surpluses.