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Wheat - guaranteed price and home consumption price 1964/65



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FOR PRESS

NOT -TO BE PUBLISHED OR BROADCAST BEFORE 6 P.M., NOVEMBER 30, 19.64.

VHEAT - GUARANTEED PRICE AND HOME CONSUMPTION PRICE 1964-65

Statement by the Minister for Primary Industry, the Hon. C.F. Adermann

The Minister for Primary Industry, Mr. C.F. Adermann,

announced today that, under the Wheat Industry Stabilization Plan,

the guaranteed price for vheat of the 1964-65 season vill be 14/7d.

a bushel, bulk basis, f.o.r. ports. This represented an increase

of 2d. a bushel over the guaranteed price for vheat of the 1963-64

season.

The adjustment in the guaranteed price, Mr. Adermann

explained, folloved an assessment by the Bureau of Agricultural

Economics of the movement in costs of the various items entering

into vheat production over the past tvelve months. The Bureau’s

"findings had been reviewed by the Wheat Index Committee, which

consists of a representative of the Australian Agricultural Council,

Mr. Y.B. Miller, a representative of. the Australian Wheat Grovers'

Federation, Mr. T.C. Stott, and the Director of the Bureau, Mr.

D.H. McKay. The price guaranteed by the Commonwealth will cover up to

150 million bushels of exports from the 1964-65 wheat crop.

Mr. Adermann added that the home consumption wholesale

price of bulk wheat under the Wheat Industry Stabilization legislation

will be 14/8d. a bushel f.o.r. ports as from 1st December, 1964. *

This figure includes 1d. a bushel to meet the cost of shipment

of wheat to Tasmania from the mainland, as provided in the

legislation. As the levy for this purpose has been 2d. a bushel ยท

in the season just ended, the nett increase in the local price of

wheat for the 1964-65 season will be 1 d . a bushel. '

CANBERRA .

November 30, 1964. 49/64P