WHEAT PARCELS.

Hawera Star, Volume XLVIII, 16 January 1929, Page 5

WHEAT PARCELS.

FREIGHTS REDUCED. MERCANTILE COMMUNITY SURPRISED. ,United Press Association —By Electric: Telegrapb Copyright.) (Australian Press Association.) Received 11.10 a.m. to-day. LONDON, Jan. 15. News cabled from Sydney states that the (reduction of freights on wheat parcels to 32s 6d per ton has caused some- surprise among the general mercantile community, who are disposed to regard it as a sop to Ausitralia to make up for the increase in outward freights, but the grain traders have been expecting a reduction, though they did not think it would exceed ss. They consider the reduction was made because the shippers would not pay the previous rate of 40s and the chartering business was practically at a standstill. They expect that the reduction, will have the desired effect of increasing shipments. They think it is likely to encourage the shipment of parcels of unsold wheat by shippers, who would- not run the risk when freight was 40s.

IMPROVED TRADE EXPECTED

MARKETS HARDEN AS RESULT OF DECISION.

Received 11.25 a.m. to-day. SYDNEY, Jan. 16. Substantial red action si. in wheat and flour freights to the United Kingdom, Europe and South Africa have, been announced by the Oversea Shipping Representatives’ Association. Some reductions amount to as much as 20 per cent. Shippers are unanimous that this will tend to induce a greater trade in these products and materially help growers in view of the low price they have been receiving abroad. Sydney and Melbourne wheat, markets have -hardened as a. result of the decision .