XN000022-1974-07-11 — Page 4

THURSDAY, JULY 11,-1974

+HOWEVER,+ CONTINUED MR. JORDAN, I HAVE STARTED SOME INVESTIGATIONS INTO THE SCALE AND EFFECT OF AGENCY ARRANGEMENTS AND I SHALL ADVISE THE COUNCIL OF THE OUTCOME.

+1 AGREE ALSO THAT ALL IMPORTERS SHOULD BE REQUIRED TO STATE THEIR SPECIFIC INTERESTS IN THE WHOLESALE AND RETAIL RICE TRADE, AND THIS WILL BE DONE SHORTLY.+

MR. JORDAN NOTED THAT THE COUNCIL WAS STILL CONSIDERING THE QUESTION OF WHETHER THERE SHOULD BE ANY INCREASE IN THE NUMBER OF RICE IMPORTERS. HE SAID THAT WHEN THE COUNCIL'S PROPOSALS WERE SUBMITTED, THE GOVERNMENT VOULD BE GLAD TO CONSIDER THEM. in

IN THE MEANTIME, HE POINTED OUT, THERE WAS A NEED TO ENSURE THAT THE MINIMUM QUOTA HOLDING FOR ANY PORTER REPRESENTS A FINANCIALLY VIABLE PROPOSITION.

MR. JORDAN SAID THE GOVERNMENT AGREED THAT A BROADLY BASED SUPPLY SOURCE PATTERN WAS DESIRABLE, PROVIDED THAT IT WORKED TO THE ADVANTAGE OF THE CONSUMER.

THE EXISTING IMPORTERS HAD A WORLD-WIDE CONNECTION WITH RICE SOURCES AND WERE AWARE ON A DAY-TO-DAY BASIS OF THE PRICES AND AVAILABILITY OF RICE FROM DIFFERENT SOURCES.

THE BASIC PATTERN OF TRADE, HE SAID, TENDS TO STABILISE AROUND THE MOST RELIABLE MARKETS ALTHOUGH THERE WAS SUFFICIENT FLEXIBILITY IN THE MARKET SYSTEM TO PERMIT REACTION TO ATTRACTIVE OFFERS FROM ALTERNATIVE NON-TRADITIONAL SOURCES.

MR. JORDAN SAID THAT THE GOVERNMENT WELCOMED THE SUGGESTION THAT THE COUNCIL SHOULD TAKE ALL POSSIBLE MEASURES TO DISCOURAGE THE HOARDING OF RICE BY THE PUBLIC WHEN SUPPLIES ARE UNCERTAIN.

NOTING THAT THE COUNCIL HAD RECOMMENDED THAT THE RICE CONTROL SCHEME SHOULD BE REVIEWED EVERY THREE YEARS, R. JORDAN SAID THIS WAS, IN FACT, NORMAL PRACTICE, AND THE LAST MAJOR REVIEW WAS CONSIDERED BY THE EXECUTIVE COUNCIL IN MAY LAST YEAR.

IT WAS THE INTENTION IN FUT RE TO PUBLISH A FACTUAL REPORT ON THE RICE TRADE AND THE RICE CONTROL SCHEME SOON AFTER THE END OF EACH YEAR, BEGINNING WITH 1974, HE ADDED.

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