DOMINION WHEAT PRICES

Taranaki Daily News, 22 August 1931, Page 11

DOMINION WHEAT PRICES

SCHEME OF STABILISATION

MILLERS’ AND GROWERS’ PLANS.

PROPOSAL FOR JOINT BOARD.

By Telegraph.—Press Association.Christchurch, August 21.

An important scheme for the stabilisation of wheat prices for next season, which has been drawn up by the New Zealand Wheatgrowere’ Co-operative Association and representatives of all flourmillers in the Dominion, was outlined by Mr. W. W. Mulholland, chairman of directors of the association, to meetings of wheatgrowers at Ciilverden and Omihi yesterday. Mr. Mulholland stated. that an agreement had been entered into with the ■millers’ representatives under which millers would agree to buy wheat at a price to be fixed by a Certain definite basis of calculation and to deduct a levy, which would be paid into the equalisation fund, to be available for dealing with any wheat in excess of requirements which could not be sold during the season. The millers also had agreed to pay into the fund any amount they received for bran and pollard in excess of. say, £4 10s. a ton, while growers on their part would agree to make up out of the levy any difference there might be it the price of bran and pollard fell below £4 10s. a ton.

The scheme will be; operated by a board composed of an equal number of growers and millers, neither side having a majority. In the event of any differences of opinion an agreement will have to be reached by negotiation.