QUOTA FOR WHEAT

Otago Daily Times, Issue 21579, 26 February 1932, Page 7

QUOTA FOR WHEAT

BRITISH GOVERNMENT’S BILL ASSISTANCE' TO GROWERS (British Official Wireless.) (United Press Association.) (By Electric Telegraph—Copyright.) RUGBY, February 24. The Government’s Wheat Quota Bill published to-day aims at providing a secure market and enhanced price for home-groAvn wheat of a millable quality Avithout subsidy from the Exchequer and Avithout encouraging the extension of wheat cultivation to unsuitable land. The guaranteed price is to be 45s per quarter of 5041 b. A secure market will be provided by imposing on millers a contingent obligation to purchase the stocks of home-groAvn millable Avheat remaining unsold at the end of the cereal year. The Bill sets up a Wheat Commission for the general administration of the scheme, and particularly to decide the quantity of home-grown wheat millers will require, and a flourmillers’ corporation to discharge any obligations imposed on millers respecting unsold wheat. THE AREA IN WHEAT. BIG DECREASE LAST YEAR. LONDON, February 24. The Ministry of Agriculture, in a statement anent the Quota Bill, explains that the area in Avheat in the United Kingdom fell to 1,250,000 acres in 1931, which Avas the lowest since statistics had been collected. The Bill does not interfere with free importation, so that consumers of bread and poultry-keepers will continue to benefit by cheap supplies, but flour-millers and importers are required to make quota payments into a Avheat fund in respect of every hundredAveight of flour delivered in the United Kingdom. Millers will not be required to mill home-grown Avheat in every parcel of flour manufactured, but Avill be left free to buy the 'wheats they desire. Deficiency payments will be made from a Avheat fund controlled by a Wheat Commission, the quota payments by the millers and importers being the greatest Avhen the Avorld prices of Avheat is at the loAvest, so that assistance to wheat-growers will be reduced as the world wheat prices rise. EFFECT ON FLOUR MARKET. CONSIDERABLE ACTIVITY. LONDON, February 25. (Received Feb. 25, at 5.5 p.m.) The publication of the Wheat Bill caused considerable activity in the flour market, especially for future delivery. The Daily Telegraph states that Sir Herbert Samuel, Sir Donald Maclean, and Sir Archibald Sinclair are supporting the Quota Bill, though some backbench Samuelites are opposing it. The Daily Express says that the net result of the complicated Wheat Quota Bill Avill be a levy of 3s a sack on flour, whether dominion or foreign produced, which is roughly equal to a halfpenny on the 41b loaf.