ARGENTINE WHEAT

Evening Star, Issue 26029, 18 February 1947, Page 7

ARGENTINE WHEAT

BRITAIN PAYS THROUGH THE NOSE PROFITABLE DEAL FOR SELLER LONDON. February J 6. The Argentine has made 100 per cent, profit on the wheat deal with Britain, says the ‘ Daily Telegraph.’ The Food Minister, Mr John Strachey, recently bought 500,000 tons of Argentine wheat to fill a gap' in supplies. He refused to announce tia price before both contracting parties consented, but sufficient information is now available to show that the price was approximately £3O per ton, free on board. This is morb than double tfce price paid a British farmer and more than double the price the Argentine Government pays the Argentine farmers, who sell wheat partly at £l2 17s per ton and partly at £ll ss. The Argentine Government’s central selling agency, which sold the wheat- to Britain for £15.000.000, must have made a profit, after meeting port- and storage charges, of at least £7,500.000. Britain’s very favourable contrary secures Canadian wheat at approximately £ls per ton. The same wlmat in the Canadian free market earns about £24.