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Tuesday, 22 March 1966

Mr Costa (BANKS, NEW SOUTH WALES) a asked the Minister for Trade and Industry, upon notice -

1.   What is the (a) Australian home market price, and (b) the world market price per ton for Australian sugar?

2.   What is the value of sugar produced in Australia?

3.   What is the value of Australian produced sugar sold (a) in Australia, and (b) on the world market?

Mr McEwen - The answers to the honorable member's questions are as follows - 1. (a) The wholesale price of 1A grade refined sugar at major Australian cities is $180.52 per ton. The prices of other grades are related to this price. The net return to mills for raw sugar produced in the 1964-65 season and sold for home consumption averaged $120.75 per ton, 94 net litre, (b) Australia's sugar exports are sold at a variety of prices in different markets. The bulk of our exports to the United Kingdom is sold at a guaranteed price of £Stg.43 10s. per ton ($A108.75), f.o.b. and stowed. In the United States, Australian sugar is sold at the United States domestic market price, which in the week ended 24th February 1966 was 6.90 cents per lb. ($A1 38.00 per ton) ci.f., less the import duty of 0.625 cents per lb. The remainder of our exports are sold, for the most part, at prices based on the ruling free world market price which on 7th March 1966 was £Stg. 22 ($52.50) per ton ci.f. London. This is equivalent to approximately £Stg.l7 ($A42.50) per ton, f.o.b. 2 and 3. In raw sugar terms, the total return to sugar mills from sales of raw sugar produced in Australia in the 1964-65 season was $186,729,000. This resulted from sales in Australia returning $75,900,000 and sales overseas returning $110,829,000.

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