WHEAT PRICES.

Star (Christchurch), Volume XLIV, Issue 660, 13 January 1933, Page 8

WHEAT PRICES.

FIXED BY PURCHASE BOARD. Statement of Policy. POSITION OF THE INDUSTRY REVIEWED. The following statement was today released for publication by the Wheat Purchase Board, recently established and appointed under the authority of the regulations gazetted last Friday:— “The board met on Tuesday last immediately after its appointment, and has for several days been engaged in the consideration of matters requiring early decision. '* The board has decided to exempt from the regulations: (a) Wheat of the 1932-33 season grown in the Nelson province; (b) §.ll wheat of the 1931-32 season; and (c) wheat certified as seed wheat by the Department of Agriculture in association with the Wheat Research Institute. “ Before considering matters of detail the board reviewed the general position in respect of the probable production from the coming harvest and had before it reports of the condition of crops in the main producing areas. These with general information available indicate in the boards view a probable average yield of 35 bushels per acre. .On a recorded acreage of 294,000 acres, this would provide a total yield of 10,293,000 bushels. Yield and Consumption. “ As the approximate milling requirements of the Dominion total 6,250,000 bushels and the consumption of seed and feed wheat may not exceed 1,650,000, the estimated total consumption of. New Zealand wheat in 1933-34 has been set down at 7,900,000 bushels. This does not, of course, include that portion of New Zealand’s consumption which, to an equivalent of approximately 650,000 bushels is imported in the form of flour. “ If the production and consumption of New Zealand wheat are as estimated there will be an available surplus of 2,390,000 bushels. On this basis the board, after making due allowance for costs by way of brokerage, storage, etc., and in consideration of the particularly low prices which, for the present at least, prevail in the world’s markets, has decided that it cannot safely pay at the commencement of the season more than 3s 4d per bushel f.o.b. grower’s nearest port, sacks extra, for Tuscan wheat. This price will, however, be free of brokerage. It is hoped that it may be found possible at the conclusion of the board’s operations to make a further payment to growers. Prices Fixed. “ The prices which the board has accordingly fixed for the several varieties throughout the year are as follows: Tuscan. Hunters. Pearl, s. d. s. d. s. d. Jan., Feb. and

Inducement to Defer. “It will be noted that the prices have, in view of the particularly large harvest, been so arranged as tj meet the pressing necessity that growers should defer for some months the marketing of a substantial proportion of the cropland the prices offer an inducement accordingly. “The board’s selling prices for Tuscan wheat have for January-Maroh delivery been fixed at 4s 7d, f.o.b, sacks extra (Lyttelton, Timaru and Oamaru), and similar increments to those decided upon in respect of the board’s buying prices will apply for later months in regard to sales by the board. The estimated average cost of millers’ supplies will be similar to that of last year. “ The board s price for sacks, both buying and selling, will be lOd for new 48in and 8d for once used sacks. “In view of the fact that wheat from the Marlborough province is already on the market, special attention has been given to the prompt settlement of details in that district. Agents Appointed. “ The board’s buying prices f.o.b. Blenheim will be the same as those in Canterbury, and steps have been taken to appoint merchant-brokers in Marlborough to act as the board’s agents in effecting purchases and sales. “ In view of the immediate need for supplies of wheat or fowl feed in the Wellington district the board has made the necessary provision to" enable shipments to be made from Marlborough. “ Communications are being addressed to merchant-brokers and to millers in respect of matters particularly affecting those interests." Mr R. M’Pherson has been appointed as manager for the board and has already taken up duty with the necessary staff.

March .... 3 4 3 6 38 April 3 5 37 3 9 May 3 6 3 8 3 10 June 3 7 3 9 3 11 July 3 8 3 10 4 0 ‘August .... 3 Si 3 10i 4 Oi Sept., Oct., Nov., Dec. 3 9 3 11 4 1