WHEAT MARKETING.

Auckland Star, Volume LXV, Issue 147, 23 June 1934, Page 4

WHEAT MARKETING.

OPERATIONS OF BOARD,

The statement of accounts of the Wheat Purchase Board as at March 31, 1934, supplies information concerning the board's trading operations which indicate the scope of organised wheat marketing activities in the Dominion. The statement shows that the milling wheat purchased by the board totalled 6,143,327 bushels, at a cost of £1,062,195, and of surplus wheat 2,157,035 bushels at a cost of £400,923, the total purchases aggregating in value £1,463,118. The sales of wheat for milling were 0,143,327 bushels for £1,460,125, and of surplus wheat, New Zealand sales, 398,758 bushels, for £96,366, and for export, 1,012,421 bushels, for £146,780. The total crop purchased by the board was 8,300,363 bushels, and sold by it 7,554,506 bushels. Storage aud handling charges on surplus wheat were £11,021, or 1.22 d a bushel. Administration costs (salaries, board fees, and expenses) were £7344, or approximately one-fifth of a penny a bushel. Commission paid to brokers was £29,809. The rebate on North Island flour sales was £63,614. This rebate is on all flour sold to the North Island to facilitate competition with imported flour. The rebate works out at 1.84 d a bushel. The surplus of 1933 wheat taken over by the 1933-34 scheme was 756,300 bushels (including stock in hand, 445,500 bushels), £80,286. The balance of funds available for distribution to sellers of wheat under the 1933 regulations is £207,509, and the . balance of funds under the 1933-34 marketing scheme £67,586. Cash in the bank at balance date was £72,983, and investments (fixed deposit) £160,000.