XN000022-1974-03-12 — Page 6

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Tuesday, March 12, 1974

MEASURES TO IMPROVE RICE CONTROL SCHEME DISCUSSED

Various measures to improve the operation of the rice control

scheme to protect the interests of the consumer were discussed today

at the first meeting of the Rice Advisory Committee set up by the

Commerce and Industry Department.

The committee comprises eight members representing the import,

wholesale and retail sectors of the trade and DC & I officials.

Mr. Jimmy McGregor, Deputy Director of Commerce and Industry,

who is chairman of the committee, said after the meeting that a full

and frank discussion had taken place on measures to eliminate speculative

activity in the rice trade.

Agreement had been reached on establishing a fixed scale of

maximum mark-ups to apply at the three levels of the trade in line with

prevailing import costs.

At the present time, the agreed scale of mark-ups will be

$20 per picul by the importer, $2 per picul by the wholesaler and 340

per picul by the retailer.

The aim is to stabilise retail prices of top-grade rice at

#2.40 per catty, with lower grades correspondingly cheaper.

Written undertakings to observe a maximum scale of mark-ups

will be given to the Commerce and Industry Department by members of

the committee representing the importers, wholesalers and retailers.

The committee also discussed arrangements for direct sale

of rice to largo organisations and major retail outlets.

/It was