LARGE RISE CONCEIVABLE

Taranaki Daily News, 13 September 1934, Page 16

LARGE RISE CONCEIVABLE

PROSPECT FOR GRAIN PRICES.

BRITISH AUTHORITY’S VIEW.

London, Aug. 26.

“Conceivably, the prices of wheat and feeding-stuffs will rise within a year to such a point that dearness, not cheapness, will cause anxiety,” writes Sir Herbert Robson, president of the London Corn Trade Association, in a letter - to the Times. Sir Herbert contends that wheat marketing must be considered in conjunction with that of other cereals. The total shortage of all cereal crops on the Continent and in North America is now 90,000,000 tons. The hay crops are the worst ever harvested. European wheat crops are fair, barley and rye are poor, and potatoes are moderate. The British Government, he states, should not become involved in international control of the marketing, and movement of wheat. Britain is vitally concerned in a full supply from overseas at reasonable prices. The Argentine and Australian wheat crops must undergo four critical months before harvest. The Australian crops may deteriorate and the Argentine may be moderate, and this may lead to high prices. Traders can act far more quickly than an international committee; therefore, the grain trade should be left, alone to keep Britain well supplied with grain.