1
LENTY
3.
TUESDAY, AUGUST
AUGUST 13.
13, 1974
PLENTY OF RICE IN STOCK ******
THE COMMERCE AND INDUSTRY DEPARTMENT ANNOUNCED TODAY THAT THE RICE IMPORT QUOTA FOR THE FOURTH QUARTER OF THIS YEAR HAD BEEN FIXED AT A REDUCED LEVEL OF 45,000 METRIC TONS ON THE ADVICE OF THE RICE ADVISORY COMMITTEE.
COMMENTING ON THIS, MR. K.S. HARDY, ASSISTANT DIRECTOR OF COMMERCE AND INDUSTRY, SAID THAT HONG KONG'S STOCK OF RICE WAS HISTORICALLY VERY HIGH AND IN FACT NOW EXCEEDED 100,000 TONS.
WITH SO PLENTIFUL A SUPPLY, HE SAID, IT HAD BEEN DECIDED NOT TO IMPORT AS MUCH RICE AS USUAL DURING THE REST OF THE YEAR.
MR. HARDY SAID THE DECISION WAS ALSO IN KEEPING WITH THE RECOMMENDATION CONTAINED IN THE CONSUMER COUNCIL'S REPORT ON THE RICE CONTROL SCHEME WHICH HAD SAID THAT STOCKS SHOULD BE REDUCED.
REFERRING TO FUTURE SUPPLIES, MR. HARDY SAID THESE WERE ASSURED AND THAT REPORTS ON REGIONAL RICE CROPS THIS YEAR WERE VERY FAVOURABLE. +PRICE-WISE THE POSITION IS FAVOURABLE TO THE CONSUMER,+ HE SAID, +THOUGH NOT SO ROSY FOR IMPORTERS.+
ON THE RICE IMPORT QUOTA SYSTEM, MR. HARDY ADDED THAT THE DEPARTMENT HAD DECIDED TO COMBINE THE THIRD AND FOURTH QUARTERS QUOTAS.
THIS MEANT THAT REGISTERED RICE STOCKHOLDERS WOULD BE FREE TO TIME THEIR PURCHASES FOR DELIVERY AT ANY TIME BEFORE DECEMBER 31.
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THIS HAD BEEN DONE, HE SAID, SO AS TO PROVIDE IMPORTERS WITH FLEXIBILITY TO ENABLE THEM TO IMPORT RICE AT PRICES MOST FAVOURABLE TO CONSUMERS IN HONG KONG. IF NECESSARY, FURTHER QUOTAS WOULD BE ISSUED BEFORE DECEMBER 31.
SINCE JANUARY 1 THIS YEAR, HONG KONG HAS IMPORTED 200.700 METRIC TONS OF RICE. OF THIS AMOUNT, CHINA SUPPLIED 96,600 METRIC TONS AND THAILAND 83,000 METRIC TONS.
THE BALANCE WAS IMPORTED FROM THE USA, AUSTRALIA AND PAKISTAN.