N.Z. Ratifies Wheat Pact
WELLINGTON, July 1. The Minister of Industries and Commerce, Mr. JSTordmeyer, announced today that New Zealand had ratified the International Wheat Agre^nent. the objective of which js to assure supplies of wheat to importing countries^ and markets to exporting countries at equitable and stable prices. The basie minimum and maximum prices fixed for the four years of the agreement, are as follow: — For the year from August 1 1949 to July 31, 195Q, minimum 1 dollar 50 cents, maximum 1 dollar 80 cents; 1950-1951, minimum 1 dollar 40 cents, maximum 1 dollar 80 cents; 1951-1952, minimum 1 dollar 30 cents, maximum 1 dollar 80 cents; 1952-1953, minimum 1 dollar 20 cents, maximum 1 dollar 80 cents. The equivq,lent prices in New Zealand eurrency for Australian bullc wheat would be: minimum prices (approximately -7s 3d, 6s 9 d, 6s 3d and 5s 9d respectively with a maximum of 9s). The quantity .of wheat which the signatory cppntries guarantee - to purchase and sell -under the terms of th,e agreement, amopnts to 450.00'0,00p fcushejs yqarly. New Zealand 's guaranteed pufeh'ases under 'thd agreement Will be 125,000 metrie tons, equal to about 4,593,000 bushels year ly. "...
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Chronicle (Levin), 2 July 1949, Page 5
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196N.Z. Ratifies Wheat Pact Chronicle (Levin), 2 July 1949, Page 5
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