WHEAT SURPLUS EXPORT

Sun (Auckland), Volume III, Issue 788, 8 October 1929, Page 11

WHEAT SURPLUS EXPORT

CHAIRMAN OF POOL GIVES REASONS “WOULD HAVE MEANT RUIN” Press Association WELLINGTON, Today. The reasons which actuated them in deciding to export the surplus wheat were given before the Select Committee of the House considering the sliding scale of duties on wheat by Mr. D. Mulholland, chairman of the New Zealand Wheat Growers’ Cooperative Association, commonly known as the Wheat Pool.

He said as a general rule during the past decade New Zealand had not produced a surplus, but there were two exceptions, 1921-22 and 1925-29. During 1927-2 S the surplus was greatly accentuated by the Importation of wheat and flour equal to 1,724,425 bushels of wheat for the 12 months ended December 31, 1928. In view of the heavy carry over from 1927-28 and the addition of a further surplus in 1928-29, the Wheat Pool was faced with a difficult problem, which could only be solved by the export of at least some portion of the surplus. In answer to questions he denied that the export was to keep .up prices. He could not give the reason why wheat had had to be imported from Australia. They could not afford to hold the carry over because in time it would mean their ruin.