WHEAT PRODUCTION SAVES OVERSEAS FUNDS

Press, Volume XCVIII, Issue 29021, 9 October 1959, Page 3 (Supplement)

WHEAT PRODUCTION SAVES OVERSEAS FUNDS

LAST Y®® the New Zealand wheat acreage was more than doubled and indications are that in the coming season there may be a further increase of about 40 per season there may be a further increase of about 30 to 40 per cent, on last year.

To the man in the street the news is of passing Interest but the implications are far greater. More wheat produced means less to be imported and a consequent saving in overseas funds.

New Zealand requires about 13.5 million bushels of wheat for flourmilling, poultry feeds snd other uses. Up until recently we have had to import about three-quarters of our

£s.Bm, compared with 10.5 million bushels in 1957. The increased acreage last season of 135,000 acres yielded a harvest of about 6| million bushels, which is estimated to save £ 1.5 m in overseas funds.

requirements from Australia.

With a favourable harvest this coming season and an acreage of 200,000 acres, the yield could approach 10 million bushels.

In 1958 the Wheat Committee imported about 10 million bushels of wheat, valued at

Sound Basis—

Wheat for flourmilling is heavily subsidised, but not without justification. Milling wheat produced last harvest cost the taxpayer £3,910,000, but the country was saved an estimated £l.sm in overseas funds.

The incentive to grow more wheat provided by the increased price was accompanied by the development of new varieties of wheat with higher yields. Canterbury farmers have kept up with modern methods of harvesting and on several farms bulk handling equipment is coming into use.

Wheat is playing an important part in the stabilisation of farm incomes and at the same time helping to balance the national economy.