PRICE OF WHEAT

Evening Post, Volume CXV, Issue 10, 13 January 1933, Page 8

PRICE OF WHEAT

BOARD'S SCHEDULE

ANNOUNCED FOR YEAR

BIG SURPLUS LIKELY

(By Telegraph.) (Special to "The Evening Post.") . CHRISTCHURCH, This Day. The Wheat Purchase Board in a statement to-day announces that the following prices have been fixed for the varieties named throughout the year:— January, February, and .March.— Tuscan, 3s 4d; Hunter's, 3s 6d; Pearl, 3s Bd. April.—Tuscan, 3s sd; Hunter's, 3s 7d; Pearl, 3s 9d. May.—Tuscan, 3s 6d; Hunter's, 3s Sd; Pearl, 3s lOd. June.—Tuscan, 3s 7d; Hunter's, 3s 9d; Pearl, 3s lid. July.—Tuscan, 3s 8d; Hunter's, 3s lOd; Pearl, 4s. August.—Tuscan, 3s Sid; Hunter's, 3s 10Jd; Pearl, 4s OJd. September, October, November, and December. —Tuscan, 3s 9d; Hunter's, 3s lid; Pearl, 4s Id. . The statement continues: — "Before considering matters of detail the board reviewed ,the general position in respect of the probable production from the coming harvest and had before it reports of the condition of tho crops in: tho main- producing areas. These, -with the general information available, indicate in the board's view a probable average yield of 35 bushels per aero on a recorded acreage of 294j000 acres. This would provide a total yield 'of 10,293,000 bushels. As the approximate milling requirements of the Dominion total 6,250,000 bushels, and the consumption of seed and feed wheat may not exceed 1,650,000 bushels, the estimated total consumption of New Zealand wheat in 1933-34 has been set down at 7,900,000 bushels. This does not, of course, include that portion of New Zealand's consumption which, to an equivalent of approximately 650,000 bushels, is imported in the form of flour. "If the production and consumption of New Zealand wheat are as estimated there will-be an available surplus of 2,390,000 bushels on this basis. The board, after making due allowance for and in consideration particularly of costs by way of brokerage, storage, etc., and the low prices which for the present at least prevail in the world's markets, has decided that it cannot safely pay at the commencement of the season more than 3s 4d per bushel f.o.b. at the grower's nearest port, sacks extra,, for Tuscan wheat. This price will, however, be free of brokerage. It is h,oped that it may be fouml possible at the conclusion of the board's operations to make a further payment to growers.