WHEAT IMPORTS

Evening Post, Volume CXIV, Issue 19, 22 July 1932, Page 8

WHEAT IMPORTS

AySTBALIAu' SUPPLIES

REPLY TO CRITICISM

"NO KNOWLEDGE OF

FACTS"

A reply was issued to-day by. the Minister of Industries and Commerce (the Hon. B. Masters) to'criticisnw of the Government's action in authorising the importation of 850,000 >ushels of wheat from Australia and.of the price being paid for the supplies. "My attention has been drawn" said Mr. Masters, "to certain statements'made by members of the Auckland ' Chamber of Commerce/ regarding tho prices at which the \Vheat Marketing Agency Co.,' Ltd., has recently purchased supplies of Australian wheat. I have made inquiries regarding ' this' matter, and it is ovident that the statements emanating from Auckland have been made without any.accurate knowledge of the facts. The statements are made • that the average price paid was 3s 33d f.o.b. for Victorian and South1 Australian wheat; that purchases were > made 'from \Vestern'; Australia at 3s Id 'per bushel' f.0.b., and that the wheat could have been, purchased at the time when contracts were mada at (3s per bushel f.o.b. ;."In tho first place,, no South Australian or West Australian wheat was bought; secondly, the average price paid for Victorian wheat was not 3s 3Jd f.0.b., and thirdly, f.a.q. wheat could not have been bought'at 3s per bushel f>o.b. at the time when tho contracts wero made.'

"In regard 'to the- general circumstances, I have to point out:—

" (a) That wheat was purchased by the Wheat Marketing Agency Co. under the direction of a committee wJiieh comprised mon who have had years of experience in tho purchase of wheat and who have purchased large quantities of Canadian,. Australian, and New Zealand wheat.

"■(•>)'-I have further to point out that the gentleman who has attended to the purchase of tlio wheat in Australia has acted as the buying agent of the largest New Zealand buyers, and has had a lifetime experienco in the business. Ho has the complete- confidence of the biggest importers of wheat in New Zealand and has purchased on their account on many ocasions in previous years. I have his definite written assurance- ' that quotations '.■were sought from all reputable and likely sellers, such as Darlings, Dalgety and Co., Dreyfus, Bunge, and' the Wheat Pools, and consequently that the wheat was purchased direct at the best possible prices from sellers who arc in a position to deal in quantity.''