WHEAT CONFERENCE

Otago Daily Times, Issue 22041, 25 August 1933, Page 9

WHEAT CONFERENCE

SUB-COMMITTEES' REPORTS \ PRESENTED TO FULL MEETING (British Official Wireless.) (United Press Association.) (By Electric Telegraph—Copyright.) RUGBY, August 23. There was a full meeting of the Wheat Conference this afternoon, when the reports of the two sub-committees were considered. On the basis of the report of the committee dealing with technical points in the draft agreement it was agreed that the international wheat price mentioned in paragraph 3 of the draft agreement should be on free gold prices if on a world market, the period during which the average quotation lor wheat is to be maintained before it will be necessary for the importing countries to adjust their tariffs being four months. A further effort is to be made tomorrow to agree on the average price which shall bring this agreement into force. After considering the report of the committee which considered the conditions and functions of the International Advisory Committee it was agreed that the proposed committee should be temporary in character rnd devote itself to watching over the working ana* application of the agreements reached, and its functions would not extend to the supervision of production and trading. It was agreed that each of the four principal exporting countries —Australia, Canada, Argentina, and the United States —with the Soviet, should be separately represented, and the Danubian countries should have two representatives. The importing countries are themselves to decide which of their number shall be represented. The headquarters will be in London. The full committee will meet again to-morrow, when it is hoped to conclude the conference. AN INTERNATIONAL PRICE. (British Official Wireless.) RUGBY, August 23. The international wheat price will be calculated in accordance with Stanford University (California) methods, being the average price of all parcels of imported ivheat of all grades sold weekly at all British ports.