Price of Wheat

Sun (Auckland), Volume II, Issue 317, 30 March 1928, Page 1

Price of Wheat

MINISTER’S STATEMENT CRITICISED "UNFORTUNATE SURPLUS” “After the Government has given the wMatgrowers Protection. n order that they would • position to grow more wheat, Hon. W. Nosworthy now complains of an unfortunate surplus. VVB can take it from this, said an Auckland produce dealer this “that what they wanted was a fortunate shortage. uthhim Mr. Nosworthy’s statement W deploring the surplus resulting from the heavy yields in the h,outh was submitted to Auckland produce merchants this morning, general surprise was expressed at the tone of the Min ister's remarks. bearing the market T«rirelv through the efforts of Mr. Jones M.U. the report had been circulated in the South that speculators who had sold wheat for forward delivery as low as 5s Bd, f.0.b., -werc now attempting to bear * h ® order to obtain supplies sales and get out at a st , a 'i?. d c ued merchant. The Minister had bucked this up by stating that it was un fortunate in a way because the millers were now able to bargain. The question of bearing the market, he said in no way affected Auckland traders: as a matter of fact. It was no necessary There was undoubtedly .- surplus over what was requi _ New Zealand consumption, and the world's parity must prevail. Mr W. H. Pl-entis. president ot tla Auckland Grain. Seed aTld ad . a | d Merchants' Association, characterise the Minister's statement as —At a ordinary.” , , „.i,, It was impossible to juggle with piotective tariff and production, he sani. The simple fact must be obvious that if the farmers grew morf wheat t* price must fall. They could notha\e It both ways. UNFAIR PROTECTION “The policy of protection for South Island growers is most unlair to the bulk of the population in New ■Zealand,'' stated another merchant, pointed out that in the North farmers had to go on the open m.a rue with their mutton, wool and butter ana compete against the world. Recently the Government exhorted the farmers to rear pigs for the P < - , £ iv industry, but when they went into the question they found that most or trie pig food reauired was protected tor the benefit of South Island growers. Increased production was what the country wanted, but he considered it very difficult to reconcile the Government’s policy in this direction with the statement of a Cabinet Minister who regretted that there was not a deficiency in order that the growers cou.n "make millers toe the line.” The present value of wheat is about 5s 6d, stated a dealer, and sellers con be found at 5s f.o.b., sacks extra. There was not a big demand, however, as merchant % were holding fair stocks, and with maize at a reasonable price the demand for fowl wheat would not improve.