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Preliminary GMP for what announced



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MEDIA* HELEASB e MINISTER FOR PRIMARY INDUSTRY

CANBERRA

PI 85/159 16 August 1985

PRELIMINARY GMP FOR WHEAT ANNOUNCED

The Minister for Primary Industry, Mr John Kerin, today announced the Preliminary Guaranteed Minimum Prices (PGMP) to apply to wheat produced in the 1985/86 season.

The Minister said that the prices had been established following advice from the Australian Wheat Board and the Bureau of Agricultural Economics. _ _

"An interim advance payment can now be' made to growers of 90 percent of the preliminary GMP for the particular category of wheat that is delivered," Mr Kerin said.

Mr Kerin said that the PGMPs and the interim advance payments for each category are:

Category

%/tonne

PGMP Interim Advance Payment

Al (Australian Prime Hard) 156.54 140.89

A 2 (Australian Hard) 148.54 133.69

B(Australian Standard White) 146.54 131.89

C(Australian General Purpose) 131.54 118.39 D(Australian Feed) 101.54 91.39

"The final GMPs for these categories of wheat will be decided around February next year and these values will be guaranteed by the Government," Mr Kerin said.

The Minister said the announcement of preliminary GMPs as early as possible prior to the start of harvesting rather than by 1 October as provided for in the legislation, should assist growers, especially in Queensland, in managing their

finances and in their decisions with respect to permit trading.

CONTACT: Walter Pearson (062) 72 6649