76 CEREALS 



It will be seen that in the first month of the rice season 

 the shipments are only about 69 per cent, of the mean, 

 but that in the next month they leap to 225 per cent, of 

 the mean, and in March go to 274 per cent., dropping 

 thereafter in three months to the point from which they 

 started, and then tailing away to 14 per cent, of the mean. 

 In the three months February to April (or in 25 per cent, 

 of the whole period) some 58 per cent, of the ntire 

 shipments are exported. In the first six months the 

 shipments represent nearly 80 per cent, of the whole; 

 and in September, when prices are best, only 3^ per cent, 

 of the total quantity is shipped. The dotted price-curve 

 shows not only as was to be expected that prices were 

 lowest at harvest time, but that in September, or seven 

 months after the middle of the harvest season, a rise of 

 20 per cent, has taken place, and this, it must be noted, 

 not for sound grain, but for average of the grain avail- 

 able at the time, which contains a proportion of damage. 



The peak in the wheat curve is truncated; but in its 

 main character the chart presents a striking resemblance 

 to that relating to rice. In each case there is a rush up 

 to the maximum, and then a rapid decline synchronizing 

 with a rise in price. But the nature of the two problems 

 is different in several respects. In rice India is the 

 largest and cheapest producer and shipper in the world, 

 and her prices rule the world. In wheat India only 

 comes third as a producer, and seventh as an exporter; 

 so, great as may be the effect produced by her heavy 

 dumping at one season, the seasonal demand is limited, 

 as is shown by the truncation of the curves. But we find 

 that, in fact, the internal prices of both grains are 

 markedly lowest at harvest time, and that, while the 

 price of rice rises by 20 per cent, in seven months, that 

 of wheat rises by 21 per cent, in eight months. 



Another point of difference between the problems 

 relating to rice and to wheat is that, while the wheat is 

 exported after being merely threshed, the rice is for the 

 most part milled before shipment. And the milling of 

 rice involves processes in which it is important that the 

 grain should be uniform in size and homogeneous in 

 character. Lack of uniformity in these respects results 



