AUSTRALIA’S TRADE

Taranaki Daily News, 28 August 1930, Page 15

AUSTRALIA’S TRADE

LOOKING TO THE EAST. . NEED FOR LOWER FREIGHTS. Sydney, Aug. 14. lu its search for new markets Australia is turning its eyes East, particularly to China. With this object in view a conference was opened this week to consider plans that would provide for a reduction of freights between Australian and Eastern ports. Other matters set down for discussion were refrigerat-, ed accommodation, organisation of selling and buying, packing, grading and labelling of. products, publicity, and the appointment of a trade commissioner. Tho Minister for Markets, Mr. Parker Moloney, was responsible for the calling of .the conference, which is being attended by the the representatives of shipping companies and of the producers in all States. The Minister said that the East offered a great and favourable market. He suggested that the shipping companies would bo able tp reduce freights if shippers could combine to provide larger cargoes at regular intervals. As an example of Australias freight handicap, he quoted the rate to Singapore, which, ho said, was lufls a ton, compared with 109 s a ton from 'California.

All the speakers who followed the Minister discussed tho possibilities of shippers being able to give guarantees that would ensure a reduction in ithe freight jates. It is pointed out that itustralia is specially adapted, both geographically and climatically, to supply China with a large proportion of her food requirements. Shanghai itself, with its population of 3,000,(100, is an important market. At one time there was a regular steamer service between Australian ports and Shanghai. This was interrupted by the war and no attempt has since been made. .to . restore it. ■ ' • ■ Mr. Moloney , says, that,. contrary to the general belief, Australia has already dene a very substantial trade with the Eastern countries. During the past three years tho total trade with tho combined Eastern countries amounted to more than £130,000,000. Australia, during 1928-29, imported from tho East goods valued at more than £21,750,000, leaving a balance in Australia’s favour in that year of nearly £5,000,000. During the past three years Australia’s trade position had been well maintained, particularly in wool, wheat, flour, butter, other milk products and meat.