SUPPLIES OF RICE.

Auckland Star, Volume L, Issue 111, 10 May 1919, Page 14

SUPPLIES OF RICE.

.MAXIMUM PRICKS FIXED. (By Tc-lesr.ii h- -Press Association.) WELLTXOTOX. Friday. An OrriVr-in-Conncil fixes tho maximum price of rice win n s.>ld wholesale, pv-stnro, npnn the usual Srnde terms at 30/ per linnHri'clweiglrt, and the maximum retail priiv al fourpence per pound. Inquiry made in Auckland into the position of tlie rice market -hows that local stocks are very low. "The idea of the Hoard nf Trade in fixing tin' retail price at 4d per pound." said an Auckland merchant, "must be to ensure that storks purchased at lower money shall he sold at tlie existing retail rate of -Id per pound. Of course the price must rise shortly, for the rice now being sold at 4d per pound retail, was sold to shopkeepers at £20 per ton. The price of rice in Sydney to-d iv is £:;.-> per ton f.0.b.. which makes £118 10/ per ton landed In wholesale houses in Auckland, less 21 per cent discount for cash. This means that retailers, who now have to sell what rice they held al -Id per pound retail, will have to pay -Ud to renew their sum.lies." The cause of the sharp advance in rice is a very serious shortage in South i hinn. and the far East generally. Stocks of rice in Tlon<_' Kong have been bought up by .1 ipanese firms ilurinn the past few months. The new crop <>f rice in Indn China is also doubtful this year. Further export of ric from Soith China provinces has been prohibited.