NEW SUGAR CONTRACT.

Taranaki Daily News, 3 July 1920, Page 5

NEW SUGAR CONTRACT.

TO OPERATE ON MONDAY.

PRICES NOT DISCLOSED. By Telegraph.—Prea» Association. >■■■,■ Auckland, La»t Night.! The Government's new sugar scheih# was completed to-day, and will come into operation immediately. The, agreement between the Colonial Sugar Refining Co. and the Government, whereby the fttfce? will control the distribution of all lUgat manufactured in the Dominion was Vigned on Thursday. -As previously ■< announced, the Government has'purchased the whole output of .. raw sugar from \ Fiji, and this will be refined and dUtributed on its behalf by the Colonial Sugar Refining Co. The negotiations have been completed by the Chairman of the Board of Trade (Mr, McDonald). He stated this evening that the announcement regarding v the prices and the scheme of distribution 1 will be made by the Minister for Industries and Commerce as aoon.as the Government has had an opportunity to <Son- * sider the final arrangements with tie Sugar Company. Mr. McDonald stited that the prices fixed covered all the {jovernment's expenses, and the scheme Was not being subsidised. There were tf'be ' no rebates on Customs dues. The government was running this scheme 4» « commercial proposition, and it waset- , pected that it would be a payable ten- j ture. S It is understood that the new prices Will come into operation on Monday,-fcnd that, as forecasted by the Prime Minister, the retail price will be 6d per lb in the chief centres. The first cargo of Government sugar has arrived from Piji/fcnd will be immediately refined and patted into consumption, the stocks of raw And, refined sugar belonging to the Stijgtt Company having been completely jexhausted. it