SUGAR CONFERENCE

Wanganui Chronicle, Volume 80, Issue 101, 30 April 1937, Page 7

SUGAR CONFERENCE

COMMUNIQUE ISSUED MAIN LINES OF AGREEMENT LONDON, April 28. The Sugar Conference has issued a communique announcing that the stage has been reached where it is possible to indicate the main lines of agreement to be embodied in the convention.

It says: “The aim is the maintenance of a free market and the extension of it by promoting increased consumption. It is proposed that the agreement will run for five years. The delegations have agreed to basic quota figures with a special arrangement for the first year. Some countries are willing not to use parts of the quota for 1937-8, and it is also expected that some will be unable to export thq whole of their allotted quota during the first year, but all exporting countries agree in the first two years to a general and proportionate reduction of quotas, not exceeding 5 per cent., for a year. If a permanent controlling body is to be established it will decide if this is necessary. On the contrary, if the requirements of the free market exceed aggregate quotas, the permanent body may increase all of the quotas proportionately.” The communique adds that the quotas will not be so restricted as to arouse fears that supplies will be inadequate or prices forced up unduly to prejudice the consumers.

QUEENSLANDERS PLEASED QUOTA OF 400,000 TONS Received April 29, 11.45 p.m. LONDON, April 29. The Queensland delegates are jubilant at the outcome of the sugar negotiations. The quota of 400,000 long tons is considered to be one of the best obtained. The conference agreement Is unlikely to be signed before Tuesday.