FOOD OUTLOOK.

Hokitika Guardian, 8 May 1920, Page 3

FOOD OUTLOOK.

•’AUSTI'.ALIAN it N.Z. CABLE ASSOCI ] LONDON, May 6. In the House of Commons, the Food Minister, Mr, McCurdy, said that it ought to bo realised that last year’s expectation of a fall in prices was not founded on a solid basis. He said it ought entirely to be discarded. He was unahie to understand how business men

and statesmen took such an optimistic view of the progress of reconstruction of a war devastated world, There was no prospect of an immediate improvement, either in supplies or in the price of sugar required for Great Britain. Tiio world production, he asserted, was down by 31,000,000 tons. Rigid rationing in Britain had resulted in an economy in the consumption of sugar by 700,000 tons, hut this was exactly counter-balanced hv the increased sugar consumption in the United States. Wheat prices were a most , important factor in determining wages. All over the world wheat crops would be reduced during the forthcoming twelve months. The United States exportation would be 4,000,000 tons Ipss than thp current cereal year. India was the only wheatproducing country where an increase was foreshadowed. There the increase would he a million and a half tons. That Increase was not available to any extent for exportation. He dwelt on the likelihood of a rise in wheat, prices in the importing countries, which would bo reflected in the price of every other commodity. The estimated supplies of butter for Great Britain in. 1920 would be 100,00011)5 as compared with 200,000 lbs before the war. The yearly British butter production ivas still below thp pre-war rate. The Irish butter supply would, he said, also largely fall. There were no clear signs to enable him to give an estimate as to when the worldshortage would he likely to materially improve-