Minimum Prices of Wheat and Oats, 1921 Crop. [Apr., 



MINIMUM PRICES OF WHEAT AND 

 OATS OF THE 1921 CROP. 



The Ministry of Agriculture and Fisheries thinks it desir- 

 able to explain the procedure in regard to the minimum prices 

 guaranteed by the Agriculture Act, 1920, in respect of wheat 

 and oats produced in 1921. These minimum prices will not 

 affect the marketing of wheat and oats. Every grower will be 

 free to dispose of his wheat or oats in any manner he may 

 desire, and at the best prices he can obtain. 



Calculation of Minimum Prices. — The Act provides that the 

 minimum prices for any year are to be such prices for a 

 statutory quarter as correspond to the following minimum 

 prices for 1919, w^hich is to be taken as the standard year: — 

 Wheat ... 68s. per customary quarter of 504 1b. 

 Oats ... 46s. ,, 336 lb. 



The minimum prices for 1921 will be ascertained and certified 

 by three Commissioners appointed in accordance with the 

 provisions of the Agriculture Act. As soon as possible after 

 the completion of the harvest, the Commissioners will ascertain 

 the percentage by which the costs of production of the wheat 

 and oats respectively of 1921 are greater or less than the costs 

 of production of the wheat and oats of 1919. 



The minimum prices for 1919 set out above will then be 

 increased or decreased by the same percentage as the cost of 

 production in 1921 has increased or decreased, and thei 

 equivalents for a statutory quarter of the prices calculated in 

 this way w^ill be the minimum prices per statutory quarter of 

 wheat (480 1b.) and oats (312 1b.) respectively for the year 

 1921. As soon as the minimum prices are certified by the 

 Commissioners, they will be published by the Ministry of 

 Agriculture and Fisheries. 



Payment to Growers of Wheat and Oats. — No payments 

 will be due' to producers of wheat or oats unless the minimum 

 price for wheat or oats as fixed by the Commissioners for 1921 

 is greater than the average price for wheat or oats for the 

 seven months from 1st September, 1921, to 31st March, 1922, 

 as calculated from the w^eekly returns made under the Corn 

 Returns Act, 1882. These average prices will be published in 

 the London Gazette as soon as possible after 31st March, 1922. 



If the average price for wheat as so ascertained is less than 

 the minimum price as fixed by the Commissioners, each 



