WHEAT FROM AUSTRALIA
N.Z. To Pay 12/A Bushel
NEW AGREEMENT ANNOUNCED
From a date either in July or August this year New Zealand will be paying 15s a bushel (Australian) or about 12s (New’ Zealand) for its wheat purchases from Australia. In one of those months the current contract with Australia under which New Zealand is buying wheat from Australia at 5s 9d a bushel will run out, as New Zealand’s purchases since 1946 will then have reached the limit of 18,000,000 bushels. The term of the contract was four years, but there was the quantitative limit of 18.000,000 bushels. The rate of importation had been heavier thought likely when the contract was made, and this accounted for its expiry some time this year, said the Wheat Controller (Mr R. McPherson) last evening. The new price is f.o.b. Australia. A cabled message from Melbourne yesterday reported that New Zealand had bought 2,500,000 bushels of Australian wheat' at 15s a bushel, to be delivered between June and December. The general manager of the Australian Wheat Board (Mr C. J. Perrett) said that delivery in the last part of this year had been specified because for the first half of the year New Zealand would be getting wheat under the current agreement which, he said, would expire in June. Mr Perrett said that under the existing agreement the price was 5s 9d a bushel, but the new price was that ruling in the world market. Much criticism in the Australian Parliament and by wheatgrowers’ organisations there fallowed the making of the contract with the New Zealand Government. During the currency of this agreement the wheatgrowers in Australia received market rates, the Australian Government paying the difference between 5s 9d a bushel and ruling world prices. In Wellington, the Minister of Industries and Commerce (Mr A. H. Nordmeyer) confirmed the message from Melbourne, but said that the average price of wheat required from Australia this year worked out at 8s 3d (New Zealand) a bushel, f.o.b. Australian ports.
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Bibliographic details
Press, Volume LXXXV, Issue 25742, 2 March 1949, Page 4
Word Count
335WHEAT FROM AUSTRALIA Press, Volume LXXXV, Issue 25742, 2 March 1949, Page 4
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