RICH HARVEST

Hokitika Guardian, 7 November 1930, Page 3

RICH HARVEST

AUSTRALIAN CROPS

RECORD CERTAIN

SYDNEY, October 28

It is estimated that if all tbe wheat that will he produced .'n Australia this year could be sold at the best ruling I# r.ee to-day, the total crop would be worth more Ilian .£22,090,000. The best ruling price to-day is 3s a bushel, and d it were likely to be maintained there would be reason for much greater optimism than exists. Experts conversant with the overseas wheat market say Ghat it is impossible to forecast the rend of prices because of the instability of the pos.tion in Europe. Two factors that will have an important bearing on the European markets are the amount of wheat that is likely to ho flumped by Russia, and the extent of the decrease of the purchasing power of Jie European countries. At the same time it is grat'fying to know that a record crop is likely, and that it is probable that the total harvest of New South AA’ales, Victor a, South Australia, and AVestern Australia will he about 190,000,000 bushels a vastly greater crop than that which was harvested last year. The New South AVales Director of Agriculture believes that the yield from the 5,618,000 acres under crop will be close on 70,■joo,ooo busbies—more than double that of last year. The previous record of New South' AVales was in 1975-16, when 3,122,000 acre„s were under crop and vielded 66,765,000 bushels. Last season’ yield was 33,948,000 bushels from 3,902;00 acres.

In Victoria this year a yield of 50,000,000 bushels is expected, thanks to the recent bountiful rains. Last year Victoria’s yield amounted to only 25,000,000 bushels, and returned a little more than £4,090,000. There would need to he an improvement on present prices lor either State to receive much more lor her larger crop tli s year than received for the smaller crop last year. At the same time wheat-growers are living in hopes that this improvement will be brought about iif which case they will lie, as one of the.r number said the other day, “on velvet.” It is realised on all sides that improved marketing is essential if the grower is to get the best that is offer ng. At the present time the marketing is done on a more or less haphazard scale, and there are many expressions of regret that the proposals in Victoria and New South Wales for a compulsory wheat pool were turned down by the wheatfarmers themselves. It is generally considered that vested interests —a vague term—had a great deal to do w th the results of the ballot. It is also regretted that the Federal Government Wheat-marketing Hill, did not find favour with the Senate. ' Hopes have not been abandoned and the machinery is being perfected in New South Wales at least for the establishment of a voluntary pool, which may go a long way to solving the market ng problem.