COMMERCIAL

New Zealand Herald, Volume 81, Issue 25085, 26 December 1944, Page 2

COMMERCIAL

OUTLOOK FOR .WHEAT NO AUSTRALIAN SURPLUS (Special Representative) MELBOURNE, Dec. 20 Because of the drought and other factors in Australia, it appears inevitable that New Zealand will have to look elsewhere for her 1945 wheat requirements. The grain position generally is so serious that any grain feeds available in the Dominion would moot with a ready market here. This even applies to meadow hay, in spite of its bulkiness for transport. The average annual production of wheat in the Commonwealth for the ten years ended 3013 was 156,000,000 bushels. Last ,\ear it was 109,000,000 bushels, and this year it will probably not exceed 50,000,000 bushels. Apart from the drought, a principal reason for the reduced yield lias been a decrease in the acreage sown. The average planting for the ten-year period was 12,700,000 acres a veur, but both (his year and last year tne area has been about 7.800,000 acres. Heavy Loss in Victoria A particularly bad season was experienced last year in Victoria, while South and Western Australia suffered to a lesser degree. Victoria has again been hit this year, the wheat crop being almost a toltal I loss. Ins'lead of the average annual yield of 30,000,000 bushels, the Victorian return last year was 10,000,000 bushels, while it is doubtful if it will reach 3.000,000 this year. At the same time the New South Wales yield' has dropped from an average of .>-',500,000 bushels to 47,500.000 last year and about 15,000,000 this year. The effect of Iho drought has been equally serious on hay, barley, oats and other feed grains. Consequently almost the whole of the demand for stock feed has fallen on the wheat supplies held in Australia. Consideration is now being given to the importation of feed grains from overseas, particularly maize and oats. The most likely sources of supply are the Argentine, Canada and Chile. Not since 1014 have feed grains been imported into Australia. A Gleam of Hope Last year, at the request, of the British Ministry of Food, the production of flour in Australia was stepped up to the highest possible degree and considerable quantities were exported. The bran and pollard proved very valuable in the production of dairy produce, eggs and other foods, which were largely exported to the United Nations. This year the shortage of wheat stocks due to the drought has necessitated a reduction in flour milling in both Victoria and New South Wales, where (he mills are operating only two shifts a H Stocks of wheat in Australia at the end of 1915 will be down (o a very low ebb and the state of the 1945-16 season will be of the utmost importance. There is a gleam of hope in the fact that, over the past 50 years, a severe drought has usually been followed by an excellent season. In the meantime Australian growers express regret at the bleak supply outlook for New Zealand in 1945, but hope that conditions may rapidly improve later so that a much-valued trade may be resumed.

HAY FROM DOMINION LARGE QUANTITIES SOUGHT SYDNEY, Dec. 24 Large quantities of New Zealand grass will be shipped to Sydney early in the new year if arrangements can be made with the Dominion Government. The grass will be in the form of meadow hay. The importation has become necessary because of the desperate shortage of stock fodder in New South Wales. The chief agrostologist of the Department of Agriculture, Mr J. N. Whittet, is now in New Zealand investigating the position. The New South Wales Minister of Agriculture. Mr Graham, said Mr Whittet had been instructed not to confine his inquiries to meadow hay, although that was the most likely source of supply, but to explore every avenue that niijtbt lead to feed of any kind. A Svdnev produce merchant said it was hoped that Mr Whittet might be ahle to buy up to 40,000 tons, all of which would be necessary to carry dairy herds through the next few months unless tho drought broke soon. IMPORTS OF DRIED PEACHES Licences will be granted to import dried peaches from South Africa for an amount equivalent to 25 per cent of the value of applicants' imports of dried peaches and apricots from all sources in 1938, according to advice received from the Customs Department.

CALL AND DIVIDEND LIST Dividends— Due British Tobacco—onl., final, 1 p.c., also int. current year, 2 p.c. .. Dec. '2!) Dalgety—final half-year, ord., 3/4 p.c. (le.ss U.K. tax) . . .. Dec. 30 Morris Hcdstrom —int., 4Vi p.c. .. Dec. 31 Manawatu Knitting—final, 7 p.c. . Dec. P. and o.—final, pref., IVi p.c., def.. 3 p.c., plus bonus (3 p.c.) (all less tax) ~ .. - • Doc. Union Steam —pref., half-year, 27. p.c Dec. Jv'.Z. Breweries —int., 3V 3 p.c. .. Dec. National Electrical —G p.c. . . Dec. Felt and Textiles —int.. '2nd pref., 3 p.c Jan. 2 G-. J. Coles —int., pref., .4 p.c. .. Jan. '2 Woolworths Properties—int., pref., ord., 3 p.c. . . .. ■ • Jan. 15 Nat. Bank N.Z.—int., 1% p.c. (less , U.K. tax) Jan. 23 Ballins Breweries, final. 3 p.c. . Jan. 31 Wellington Wool—int., pref. and ord., 3 p.c. . . . . ... Jan. 31 Gear Meat—final, (5d a share (inc. bonus 3d) . . • • Jan. Woolworths (Syd.)—half-year, Ist pref., 5 p.c., 2nd pref., 3,4 p.c. (books Jan. 17) .. Feb. 15