STABILISATION

Hawke's Bay Tribune, Volume XXI, Issue 212, 21 August 1931, Page 7

STABILISATION

OF WHEAT PRICES BY EQUALISATION FUND. 9. ISLAND GROWERS’ SCHEME. By Telegraph—Preta Association. Christchurch, Aug. 21. An important wheme for the stabilisation Of wheat prices for next season which has been drawn up by the New Zealand Whoatgrowera* Co-operatlee Association and representatives of an flour millen in the Dominion was outlined by Mr W. W. Mulholland, chairman of directors of the association, to mootings of wheatgrower, at Culverdsn and Omihi yesterday. Mr Mulholland stated that an agreement had been entered into with millers’ representatives under which the millers would agree to buy wheat at a price to be fixed by a certain definite basis of calculation and to deduct a levy, which would be paid into an equalisation fund, to be available for dealing with any wheat in excess of requirements which could not be sold during the season. The millers also have agreed to pay into the fund any amount they receive for bran and pollard in excess of, say, £4 10/- a ton, while growers, on their part, will agree to make up out of the levy any diffierence there mav be if the price of bran and pollard falls below £4 10/- a ton. The scheme will be operated by a board composed of an equal number of growers and millers, neither side having a majority. In the event of any differences of opinion an agreement will have to be reached by negotiation.