THE WHEAT TRADE OF INDIA.

Ashburton Guardian, Volume IV, Issue 1094, 7 November 1883, Page 4

THE WHEAT TRADE OF INDIA.

A most interesting report on the wheat trade of India has been laid before the United States Agricultural Department by the Hon F. Baring. I cannot attempt to give more than a few of the most salient points in connection with it. He states that the trade may, for all practical purposes, be said to date from the year 1873, when the export duty was removed. 'ln 1881-82 nearly a million tons (i9,863,520cwt) were exported. The export during the current year (1882-83) will probably be about i4,ooo,ooocwt —a figure which although below the exceptionally large export of 1881-82, is still 100 per cent in excess of that of 1880-81. The rapid strides made in this trade during the last few years are to a great extent due to the railway extensions in India, and, so far as the great exports of 1881-82 are concerned, to deficient crops in the United States. There were in 1880-81, 19,474,494 acres under wheat. These figures are, however, inclusive of 1,000,000 acres in Bengal, which is simply a guess, and probably very wide of the mark. The great wheat fields are in the Punjaub, where also the quality is best, he north-west Provinces Oude, and the central Provinces. Bombay, Berar, and Bengal also grow wheat extensively, though smaller in quantity. The out-turn per acre varies enormously according to the province and the soil and according to whether the field is irrigated or not. For all India the average yield cannot be taken, on a liberal .estimate, at more than 7001 b to the acre, which is less than half the produce of English (from 1,5001 b to 1,600 lb), and considerably less than that of the American wheat fields (8501 b). At this rate of yield the total out-turn would be about 6,500,000 tons, of which it may roughly be said that about 1,000,000 tons are available for export Comparing the rates from New York to Liverpool for 1882 with the Indian rates, we find that during the year 1882 the average charge from Kurrachee to London was Li 18s gd a ton; from Bombay to London, Li 15s aj£d J from Calcutta to London, L2 2s lid per ton of 20 cwt. Taking the average American rates o r 1882 as the basis of comparison, New York may be said to possess an advantage over Kurrachee to the extent of about 25s yd or 22s 9d a tori, over Bombay of 23s or igs'2j£d, and over Calcutta 30s gd or 36s 1 id, accordingly as the Indian rates are compared with the New York rates to Liverpool or to London. On the Other band, Indian rates compare favor, ably with freight from San Francisco to the United Kingdom, which in xBBr averaged L 3 3s a ton. The through rate for wheat conveyed from Delhi or Agra to Bombay has in communication with the agent of the Bombay Baroda, and Central India Railway, been reduced from 13 annas 6 pie to it annas a raaund, and for the other - grains and seeds of the same class to annas a maund. The reduction in the case of wheat will, therefore, be 18*5 per cent on the present rates. It will, no doubt, be followed by a corresponding reduction on the East Indian line. For the future it will be possible to lay down wheat coming from about Delhi or Agra to Calcutta or Bombay at a price of rupees 443, or, at an exchange of is 6s less per ton than has hitherto been the case. To state the case in another way, the lowering of the rates is equivalent to a reduction in- price of slightly over is 6d per quarter of wheat in the London market. <