THE WHEAT POSITION.

Taranaki Daily News, 19 January 1920, Page 6

THE WHEAT POSITION.

CONFERENCE WITH MINISTERS. PRICES FIXED. DEARER BREAD PROBABLE. By Telegraph.—Press Association. Ohristchurcli, Jan. 17. A large number of farmers met Mr. Massey and Mr. Nosworthy and discussed with them prices for the coming seaeon's wheat crop. Mr. Masscy, in response to a welcome by Mr. D. Jones, chairman of the Farmers' Union, said the estimated yield in the Dominion was 4,000,000 bushels. There were 2,000,000 bushels purchased in Australia, making a total of 6,000,000 bushels to go and come upon. It was sufficient-for next year, but the Government had to look further ahead. He hoped the conference would result in satisfactory prices being agreed upon. The Government would hold the balance evenly between producers and consumers. The people wanted the wheat and the Government wanted the farmers to grow it and to be able to sell it at prices that would leave a margin of profit. .

Later. In the afternoon the parties again met, and a settlement was arrived at. It is officially announced that the for' 1910-20 wheat agreed upon was 7s 3d f.0.b., which works out to the) farmers on the average of 7s OJd on the farm, but this year the principle of differentiation for varieties will apply, and an increase will be given for Hunters' of probably threepence per bushel, pd for Pearl; probably sixpence. This increment, however, applies only to a very weak proportion of the crop. The question of price for subsequent years was left for further consideration. The extra price of a loaf of bread has not been worked out yet, but it is stated that, with the extra price of wheat agreed to, and assuming that the Government discontinues the subsidy to the millers, the increase of the 41b loaf will be twopence. Mr. Massey said the arrangement made was a fail- one to both sides. It only settled the price for one season. The reason for that was there had been ft difference of opinion on the part of the larger body of growers which met, in the morning, making it impossible for the smaller conference in the afternoon to arrive at a decision covering a longer period than the current season. Mr. David Jones, M.P., chairman of the conference, said the arrangement was a satisfactory one. It was simply that the farmers accepted the market price for this season's wheat, which was arranged by the Government recently. The Government were carrying cut their agreement with the fanners, which was made last year by Mr. MaeDonald regarding the 13-19-20 wheat crop.