NEW SUGAR SCHEME

New Zealand Times, Volume XLVI, Issue 10632, 3 July 1920, Page 7

NEW SUGAR SCHEME

DETAILS COMPLETED PRICE PROBABLY 6D PER IB IN CENTRES. TO OPERATE IMMEDIATELY. • PER PRESS ASSOCIATION'. AUCKLAND, July 2. The Government's new sugar scheme was completed to-day. and will'come into operation immediately. Tho agreement between the Colonial Sugar Refining Company and the Government, whereby the latter 'will control the distribution oi nil sugar manufactured in the Dominion* was signed on Thursday. As Previously announced the Government has purchased the whole output of raw sugar from Fiji, and this will' be refined and distributed on its behalf by the Colonial Sugar Refining Company, Negotiations have been completed by the chairman of the Board of Trade (Mr AV. G. McDonald), and he stated this evening that an. announcement regarding prices nvi the scheme of distribution will bo made by tho Minister for Industries and Commerce as soon as the Government has had an opportunity to consider the final arrangements with the Sugar Company. Mr McDonald stated that the prices fixed .covered all the Governments expenses, and the scheme was not being subsidised. There were to be no rebates on Customs dues. The Government was running this scheme as a commercial proposition, and it was expected that it would b© a payable venture. It is understood new prices will come Into operation on Monday, and that, as forecasted by the Prime Minister, the retail price will be fid per lb in the chief centres. The first cargo of has arrived from Fiji* and will be immediately refined, and passed into sumption, tho stocks of raw and refined sugar belonging to the Sugar Company having been completely exhausted.