WORLD’S WHEAT.

Wairarapa Age, 28 August 1933, Page 5

WORLD’S WHEAT.

LONDON CONFERENCE MAKES AGREEMENT. LIMITATION OF SUPPLIES. PRICE LEVEL FIXED. RUGBY, August 25. An agreement on the world price of wheat and on the limitation of supplies was reached to-day by the Wheat Conference in London, at which twenty-nine countries are represented. The Canadian Premier (Mr. R. B. Bennett), who is chairman of the Cbnference, announced that the exporting countries had accepted 32 gold francs per quintal (63.68 gold cents per bushel) as the price level at which importing nations may be asked to readjust the tariffs of wheat. The exporting countries had, he explained, desired a higher price, but, in view of representations made by other delegations, they were prepared to agree to this price. The Cbnference started on Monday, and is therefore one of the shortest international conferences on record. Preparatory talks were conducted in recent months at Geneva and during the World Economic Conference in London. The French delegate informed the conference that his Government was prepared to give proof of their desire for agreement bv accepting this price. The delegate from Germany spoke in similar terms. On behalf of Russia, it was stated that the Soviet would sign, but with a reservation as to the limitation of exported wheat. ' The Danubian States intimated that they were in the same position as Russia. 1 The exporting countries have agreed ex P orts of wheat during 1934 to 560,006,066 bushels, and, with “c?! 10 " ° f Ettssian and the DanS ian . Bta J es ’ will reduce their produc--7 ? P er / ent - The agreement is to be m force for two years. There was a proposal from America that the price eve; question should be left over to be determined by the Wheat Advisory Committee, which is being set u D in "•don, and the Italian representatives also urged that the matter should be dealt with later, but their proposals Were defeated. Britain and other producing countries which' do not export W 'mi, SlS - n a ff reemett t. P The importing countries, in a paragraph to be added to the agreement are! of w. hat ; the measures a Sng area of wheat grown and the de°f production adopted, are primartfont w®rt- ent U ?° n th ® domesti/ conditions within each country, and that anv change in those measures must obtain tention C of° n tV f th ® legislature - The inless that agree . meat ia -cverthe. not fakt ? “ n P orti “ff countries will export n antage of the eduction of remunerative level.” 6 to In regard to the figure of 63 68 nold cents per bushel, inserted in the S agreement, the index figure for the week ending August 5 was on this caleulation 55 eold .. . ta ibetween 53 Ind W“ it will b« 3 "° W that the P rico 18 a rise of M f / C -n nt L a PP roxim ately per bushel WU M r to id to M W b a t th ° ®P enin S> i>«t rose close.-(Britisl^ci a t I Wire 7 lesl e ) rday ’ S

restoring trade;

greatest constructivf effort yet made

(Received Shnday, 6.30 p.m.) 'riio <<w LONDON. August. 26. The Financial Times * ’ sav« *J“’ tever its •“perfections, the wheat agreement represents the preatest n^c2 Ve eS S rt made °*o assist in quickening the wheels of trade.