WHEAT POLICY

New Zealand Herald, Volume LXXI, Issue 21880, 16 August 1934, Page 7

WHEAT POLICY

ACTION IN AUSTRALIA ASSISTANCE TO GROWERS [from our own correspondent] SYDNEY, August G It has been stated that the Federal Government's wheat policy, under which a fund of £4,000,000 will be provided to assist growers, is only temporary, pending a definite recommendation from the Royal Commission which has been inquiring into all aspects of Uio industry. It is hoped that later the Government will be able to formulate a long-Vange policy that will stabilise the wheat industry. Under the stopgap scheme the wheat-grower will be assured of at least 3s a bushel, plus the £4,000,000.

It is held that the case for immediate assistance of the wheat grower has been proved, and in the circumstances it is probable that the Federal Government has decided on the only safe policy until things are more settled. According to figures presented by the Royal Commission, 3s a bushel is a very fair price for certain growers, a fair return for others, and only something to make things a little better for those who are on irregular rainfall areas where wheatgrowing cannot be made profitable, even if the price were increased to os a bushel.

According to a careful test made in the case of farmers fairly representative of the general body, it is estimated that 65.9 per cent of the growers produced at costs ranging from Is to 2s lid a bushel, and another 18.6 per cent produced at costs between 3s and 3s lid. The costs make no provision for interest. BUTTER EASIER LONDON MARKET QUIET Prices for New Zealand butter on the London market are a shade easier at 80s to 81s per cwt. The market is quiet. Merchants have received the following cablegrams, dated August 14, from their London principals:— New Zealand Producers' Co-opera-tive Marketing Association, Limited.— Butter: New Zealand, 80s to 81s; Danish, 104s. Cheese: White, 49s to 49s 6d; coloured, 46s 6d. The butter market is quiet. Cheese is steady. Joseph Nathan and Company, Limited, from Trengrouse and Nathan, Limited.—Butter: 81s. Cheese: White, 495; coloured, 465. Both markets are very quiet. WOOL ODDMENT SALE FIXTURE AT WELLINGTON A sale of crutchings and oddments will be held by the Wellington Wool Brokers' Association on Tuesday. Approximately 1400 bales will be offered, of which about 1250 will be crutchings and oddments and, 150 fleece wool.