RUSSIAN WHEAT

Poverty Bay Herald, Volume LXI, Issue 18287, 4 January 1934, Page 5

RUSSIAN WHEAT

DUMPING CONTINUED AUSTRALIA AFFECTED (Kloc. Tel. Copyright—United Press Assn.) LONDON, Dec. 24.

Russia continues to duinj) wheat in Britain ami every other European country which does not possess a prohibitive tariff, .says the Daily Mail. The dumping is not on as heavy a scale as in .1980-31, when wheat prices were halved in three months, but there has been a marked increase in Russian wheat exports since last year. British imports in October were 1,750,000 ewt, compared with 1,600,000 ewt in October, 1932, and 1,609,000 ewt in November last, as against 25,925 ewt in November, 1932. December imports are arriving briskly. Latest arrivals aggregate one-sixth of the total British imports. .An expert, recalling that Russia was the only country not to accept the quota in August, says that Russian wheat is being invoiced at Russian flour mills at live times the price at which it is being sold in Britain, thereby doing incalculable harm to Australia and Canada.

The report adds that Russia is sacrificing -wheat to secure funds to purchase American machinery for the second Five Year Plan.

Accordingly it is of the greatest importance that a clause in the AngloRussian trade agreement should provide for the sale of British milling and agricultural machinery in return for wheat.