Wheat Agreement
NEW ZEALAND PURCHASES INTERNATIONAL AGREEMENT Under the International Wheat Agreement which was signed at Washington on March G, 1948, New Zealand is committed to purchase 150,000 metric tons of wheat during each of the years 1948 to 1953 inclusive, said the Right Hon. W. Nash in a recent address. This amount is equivalent to 5,511,000 bushels. The supplying countries are under a guarantee to sell: Australia, 2,313,000 metric tons (85,000,000 bushels'!; Canada, G,260,000 metric tons (230,000,000 bushels); U.S.A., 5,035,000 metric tons (185,000,000 bushels). Total, 13,608,000 metric tons (500,000,000 bushels). These quantities apply for each of the years 1948 to 1953 inclusive. The basic minimum and maximum prices for the duration of the agreement shall be: 1948-49, minimum 1.50 dollars (9/4 approximately), decreasing by 10 cents each year to 1952-53, minimum 1.10 dollars (G/10 approximately), and a two-dollar (or approximately 12/6) maximum price in any year from 1948 to 1953. These prices exclude carrying charges and marketing- costs.
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https://paperspast.natlib.govt.nz/newspapers/HN19480609.2.57
Bibliographic details
Hutt News, Volume XXI, Issue 50, 9 June 1948, Page 12
Word Count
159Wheat Agreement Hutt News, Volume XXI, Issue 50, 9 June 1948, Page 12
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