PRICE OF WHEAT AND FLOUR.

Wairarapa Age, Volume XXX, Issue 8443, 16 May 1907, Page 3

PRICE OF WHEAT AND FLOUR.

OTAGO WHEAT MARKET. ' ' s ' By Telegraph—Press Association. DUNEDIN, May 14. • Hardening of the wheat market, caused by reports of crop shortages in the colony, allied to the excited condition of the American and European markets, is responsible for an advance of 10s per ton in the price of flour. The tariff of the New Zealand Flourmillers' Association has accordingly been revised, and now stands: —Sacks, £9 ss; 100's, £9 15s; 50's, £10; 255',£10 ss. The shipping price has been advanced to £9 f.0.b., and Invercargill prices to £9 10s. It is quite on the cards that should the Wheat market continue to advance another rise in-the price of flour may shortly be made. The monthly meeting of the Master Bakers' Union will be held on Thursday, but it is unlikely that any alteration will be made in the price of bread. Any further advance in flour, will, however, place a different complexion on affairs. Regarding the above telegram the Department of Agriculture dpes not regard the shortage with any degree of apprehension. The area , under wheat last year was 213,000 acres, against 223,000 the year before, and the figures for the preceding few years are, counting backwards, 259,000 acres, 231,000 acres; 195,000 acres, 167,000 acres, and 206,000 acres. Last year the yield of wheat per acre was 30.60. bushels, but it is not anticipated that the yield will be within some bushels of that amount for this year, largely on account of the drought. The amount of wheat on hand when the statistics were taken in November last was about 3,000.000 bushels, or some 100,000 bushels more than at the same time the previous year, and that quantity would be pretty well all disposed of before the new crop came to hand. The department, however, considers that there will be sufficient wheat grown for our own requirements, and that there will be no particular necessity to resort to importation. In conversation with a Post representative, Messrs D. W. Virtue and Co. said that the millers had been wanting to put up the price of flour for some time past, as there . was, they declared, r.o profit on the prices ruling. As to prices generally, it was stated that at the present time fowl wheat is fetching a bigger price than milling wheat did a month' or two ago. The shortage is, of course, due to to the drought of last year, and farmers are naturally holding for a rise, in addition to which prices are hardening in Australia and at Home. Even so, however, it must be remembered that for very many years £9 f.o.b. for flolfr was regarded as the bedrock price, and cannot at present be regarded as in any way extraordinary. At present there is very little, if any, wheat or flour being imported, and it is not likely ./that any will be brought in while Australian prices remain firm. On the other hand, Messrs Virtue and Cu. consider that there is no reason to anticipate anything like an extraordinary rise in prices. The present rise is not exceptional, arid, unless the outside conditions alter very much, there is no prospect of future rises reaching exorbitant rates. Further enquiries, however, go to show that the public may in the near future expect to see a rise in the price of bre,ad. For a long time past bakers have complained that with the loaf at 3d the baking trade did not pay. The rise in the price of flour will probably, therefore, bring the . matter to a head, and result in an extra half-penny being charged for the 21b loaf.