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Sugar agreement price increase



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MEDIA RELEASE MINISTER FOR PRIMARY INDUSTRY

CANBERRA

PI85/288 12 December 1985

SUGAR AGREEMENT PRICE INCREASE

The Acting Minister for Primary Industry, Mr J Brown, and the Queensland Minister for Primary Industries, Mr NJ Turner, today announced that an increase in the maximum ex-refinery price of sugar for the Australian market, would apply on and from

1 January 1986, as specified under the terms of the Sugar Agreement 1984.

The new maximum domestic price for bulk refined sugar of manufacturer's grade is $519.80 per tonne. This is an increase of $11.80 (or just over 2.3%) on the current price. In accordance with the Sugar Agreement price increases for other grades of sugar will be determined by the Sugar Board in

relation to the increase in manufacturer's grade sugar.

The Ministers said that the new price had been determined in accordance with the formula, set out in the Agreement. The maximum price has remained constant for 18 months due to depressed world sugar prices. The increase, equivalent to half CPI for the six months ended September 1985, is automatic under

the provisions of the Agreement.

Further information: Lin Enright (062) 72 6649