WORLD WHEAT POOL

Timaru Herald, Volume CXXV, Issue 18352, 24 August 1929, Page 17

WORLD WHEAT POOL

CANADA AND ARGENTINE CONFER. (Unltsd Press Association—By Electric Telegraph—Copyright.) (Received August 23, 5.5 pjn.) NEW YORK, August 22. The New York “Times” announces that it learns from Mr W. J. Jackman, representative in Argentine of the United Farmers of Canada, that the Canadian experts have approached Argentina, with a view to inducing the farmers to enter the proposed wheat pool. It is felt that Argentina’s 30 per cent, of the world’s normal exportable surplus, is a vital factor in establishign world prices. It is understod that Senor Pracinza, president of the Argentina Farmers’ Organisation, has agreed to the necessity of a world pool before the problem of commodity marketing can be solved, and has expressed a desire to co-operate with the Canadian farmers in the formation of such a pool. The reason for the protracted dumping activities of Argentina growers, is believed to be the almost total lack of storage facilities in that country and the first step would be the acquisition of adequate storage elevators, operated as a public service, and not as an adjunct to trade.