SURPRISING MOVE.

Auckland Star, Volume LX, Issue 221, 18 September 1929, Page 4

SURPRISING MOVE.

' WHEAT FOR EXPORT. SELLING THE SURPLUS. (By Telegraph.—Own Correspondent.) CHRISTCHURCH, Tuesday. Considerable surprise was expressed the other day when a Press telegram from Dunedih notified that reduced steamship freights on wheat shipped from New Zealand to' London had been arranged, as the export of wheat from this Dominion T/ould be a most unusual circumstance. An explanation is now provided,by the New Zealand Wheatgrowers' Co-operative Association, which authorised the statement that in view of the reduced freight rates and the extraordinary improvement in the world wheat markets, the association has decided that now is the; opportune time for shipping the surplus. 'On the Government Statistician's figures, said- Mr. R. McPherson, manager of the association, to-day, "it appears that the surplus would .not be consumed..in New Zealand during the next twelve months, and the present world situation enables it to be shipped overseas without undue "The export of this quantity of wheat, which will bring a large amount of new money into the country, is only made possible through the manner in which the shipping companies have met the situation, after negotiations with the Wheat Pool." The first shipment is being made in the steamer Karamea, which is to sail from Lyttelton on Thursday. Other heavy shipments will follow in quick succession.