FUTURE PRICE OF WHEAT

Evening Post, Volume CVI, Issue 103, 29 October 1923, Page 6

FUTURE PRICE OF WHEAT

From remarks made at a recent meeting of the North Canterbury Farmers' Union Executive on the production and price of wheat, it would seem an official review of 'the whole wheat position is about due. Mr. J. D. Hall, an accepted authority on wheat production, stated at the meeting that there would be a shortage in production of 30 per cent., and that it would have been 40 per cent, but for the efforts of the Agricultural Committee in inducing wheat farmers to produce. Mr. Hall, indeed, described the disposal of this season's' crop as of the nature of "a coming crisis." Therefore, he moved that a conference of Canterbury and Otago wheat growers should be held, and that the Minister of Agriculture should be asked to attend. During discussion' of this proposal (which was dropped for the time being), it came out that the Union agreed that the price of bread could not be raised; also that if excessive profits were being made, the farmers were " going after them." Clearly, the farmers suspect that somewhere between the stook and the loaf, somewhere in this gap, " excessive profits " are being made. If they are, then (they said) it was not the farmers who were making them. Some facts require to be committed to memory in considering the current and future price for bread, and among them are: (1) Consumers' are paying Is per four-pound loaf over the counter; (2) that there continues an absolute embargo on all imports of wheat and flour; (3) that if imports were not prohibited, there are very substantial duties, leviable, and the high freight rates are in favour of the New Zealand wheat grower and flour-miller; and (4) that there is a prospective shortage of Homegrown wheat next harvest, by 30 per cent., to say nothing of possible natural set-backs to the crops. It appears desirable that the Government should' at the earliest and most convenient moment make a statement of the policy to be pursued in respect to the .future price of bread. It should not wait until i. is too late for the consumers as a whole to participate in the advantage of the current low ■ price of wheat in the.world's market.