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Wheat - guaranteed price and home consumption price 1967-68



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MMBARGO» NOT TO 3 2 PUBLISH..:!) OR BRO-LCa ST B3F0RJ 6 . 0 0 P.:.l 3OKI ROVKIBRR, 1967.

Wheat - Guar a n t e e d - F r i e s and Home Cons.umption

P r i c e 1967/ 6 8 . '

S t a t e m e n t by t h e m i n i s t e r f o r P r i m a r y I n d u s t r y , M r . J . D.

A n t h o n y .

The M i n i s t e r f o r P r i m a r y I n d u s t r y , Mr. J . D.

A n t h o n y , a n n o u n c e d t o d a y t h a t t h e g u a r a n t e e d p r i c e f o r

f a i r a v e r a g e q u a l i t y w h e a t o f t h e 1 9 6 7 / 6 3 s e a s o n w i l l , be

164 c e n t s p e r b u s h e l , b u l k b a s i s , f r e e on r a i l s a t p o r t s

o f e x p o r t . T h i s p r i c e , he s a i d , had b e e n d e t e r m i n e d u n d e r

t h e 7/heat I n d u s t r y S t a b i l i z a t i o n P l a n a nd i s n i n e , c e n t s p e r

b u s h e l ab o v e t h e g u a r a n t e e d p r i c e f o r t h e 1 9 6 6 /6 7 s e a s o n .

I t w i l l a p p l y i n r e s p e c t o f 150 m i l l i o n b u s h e l s o f w h eat

t o be e x p o r t e d f r o m t h e 1 9 6 7 /6 8 c r o p .

Mr. Anthony e x p l a i n e d t h a t t h e a d j u s t m e n t f o l l o w s

a n a s s e s s m e n t by t h e B u r e a u o f A g r i c u l t u r a l E co n o m ic s o f

c h a n g e s i n " p r o d u c t i o n c o s t s , and a n a s t i r ' . a t e by t h e A u s t r a l i a n

wheat Board o f c h a n g e s i n h a n d l i n g , s t o r a g e and t r a n s p o r t c o s t s

a p p l i c a b l e t o t h e c u r r e n t w h e a t c r o p . The .B u r e a u 1s f i n d i n g s ,

t o g e t h e r w i t h t h e Wheat B o a r d ' e s t i m a t e s , h i d b e e n r e v i e w e d

by t h e Wheat I n d e x Committee w h i c h c o n s i s t s o f t h e D i r e c t o r

o f t h e B u r e a u , t h e G e n e r a l S e c r e t a r y o f t h e A u s t r a l i a n Wheat

G r o w e r s ' F e d e r a t i o n a n d a r e p r e s e n t a t i v e o f t h e S t a t e s .

Mr. Anthony a l s o a n n o u n c e d t h a t a s f ro m 1 s t

December., 1967 t h e home c o n s u m p t i o n p r i c e f o r w h o l e s a l e

s a l e s o f b u l k w h e a t o f f a i r a v e r a g e q u a l i t y w i l l be 165-;·;.

c e n t s p e r b u s h e l f r e e on r a i l s a t p o r t s o f e x p o r t . T h i s

p r i c e was made up o f t h e g u a r a n t e e d p r i c e p l u s a n amount

o f one and o n e - h a l f (1 ■>„) c e n t s p e r bushel, t o meet t h e c o s t

2

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o f s h i p m e n t o f w h e a t f r o m m a i n l a n d p o r t s t o Tas mania.. I n

a c c o r d a n c e w i t h t h e c o m p le m e n ta r y Commonwealth an d S t a t e

■ Wheat I n d u s t r y S t a b i l i z a t i o n l e g i s l a t i o n t h i s p r i c e would

be common t o a l l S t a t e s and t h e A u s t r a l i a n C a p i t a l T e r r i t o r y .

H r . A nthony p o i n t e d o u t t h a t t h e r e v i s i o n o f t h e

g u a r a n t e e d p r i c e was p a r t o f t h e n o r m a l o p e r a t i o n o f t h e

Wheat S t a b i l i z a t i o n a r r a n g e m e n t , a n d was i n no way c o n n e c t e d

w i t h any p r o b l e m s a r i s i n g o u t o f s t e r l i n g d e v a l u a t i o n .