WORLD WHEAT POOL

Sun (Auckland), Volume III, Issue 751, 26 August 1929, Page 9

WORLD WHEAT POOL

ARGENTINA RECOGNISES NECESSITY FIXING WORLD PRICES (Australian and N.Z. Press Association) NEW YORK, Thursday. The “New York Times” announces that it has learned from Mr. W. J. Jackman, representative in Argentina of the United Farmers of Canada, that the Canadian wheat pool experts have approached the Argentine Republic with a view to inducing the farmers to enter the proposed world wheat pool. It is felt that Argentina’s 30 per cent, of the world’s normal exportable surplus is a vital factor in establishing world prices. It is understood that Senor Pracinza. president of the Argentine farmers’ organisation, has agreed to the necessity of a world pool before the problem of commodity marketing can be solved, and that hb expressed a desire to cooperate with the Canadian farmers In the formation of such a pool. Tho reason for the protracted dumping activities of the Argentine growers is believed to be the almost totai lack of storage facilities in that country and the first step would be the acquisi tfon of adequate storage elevators, to be operated as a public service and not as an adjunct to the trade.