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Wheat - guaranteed price and home consumption price 1966/67



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FOR PRESS

EMBARGO; MOT TO BE PUBLISHED OR BROADCAST BEFORE 6 F.M. 3 0 t h NOVEMBER, 1966.

WHEAT - GUARANTEED PRICE AMD HOME CONSUMPTION PRICE 1 9 5 6/67

S t a t e m e n t hy 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 , t h e R t . Hon. C. F.

Adermann.

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. C. F. Adermann,

a nnounced t o d a y t h a t , u n d e r t h e Wheat 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 ,

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 at o f t h e 1 9 6 6 / 6 ?

s e a s o n w i l l he 155 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 ,

p o r t s of e x p o r t . T h i s r e p r e s e n t s an i n c r e a s e of t h r e e and o ne-

t h i r d / (3 l / 3 ) c e n t s p e r b u s h e l o v e r t h e g u a r a n t e e d p r i c e f o r w h e at

o f t h e 19 65/66 s e a s o n . -

The a d j u s t m e n t i n t h e g u a r a n t e e d p r i c e , Mr. Adermann

e x p l a i n e d , f o l l o w e d an 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 conom ic s of c h a n g e s i n t h e c o s t o f p r o d u c t i o n o f wheat s i n c e t h i s

was l a s t d e t e r m i n e d a y e a r a g o . The B u r e a u ' s f i n d i n g s had b e e n

’ r e v i e w e d by t h e Wheat I n d e x C o m m itte e , w h i c h c o n s i s t s o f a r e p r e ­

s e n t a t i v e of t h e S t a t e s , t h e G e n e r a l S e c r e t a r y of 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 and t h e D i r e c t o r of t h e B u r e a u . The

p r i c e g u a r a n t e e d b y t h e Commonwealth w i l l c o v e r 150 m i l l i o n b u s h e l s

of e x p o r t s from t h e 1 9 6 6 / 6 ? w h e a t c r o p . ■

Mr. Adermann added t h a t 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 of b u l k w h e a t of f a i r a v e r a g e q u a l i t y w i l l be I56i-

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 of e x p o r t , as fro m 1 s t

December, 1966. T h i s , i n ; a c c o r d a n c e w i t h t h e c o m p l e m e n ta r y

Commonwealth and 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 c m ,

would be t h e g u a r a n t e e d p r i c e p l u s an amount of one and o n e - h a l f

( li-) c e n t s p e r b u s h e l t o m eet t h e c o s t of s h i p m e n t of w h e a t t o

Tas mania fro m t h e m a i n l a n d . As t h e l o a d i n g f o r t h i s p u r p o s e h a s "

b e e n one and o n e - t h i r d (1 1 / 3 ) c e n t s p e r b u s h e l i n t h e s e a s o n j u s t

e n d e d , t h e t o t a l i n c r e a s e i n t h e l o c a l p r i c e of w h eat f o r t h e

1 9 5 6 / 6 ? s e a s o n w i l l be t h r e e and o n e - h a l f (3i") c e n t s p e r b u s h e l .

CANBERRA. .

3 0 t h NOVEMBER, 1966 3 0 /5 6 P