asked the Minister for Agriculture and Fisheries whether, in view of the reported bumper world grain harvest, there is likely to be a substantial decrease in the price of feed grain.
Ceisteanna—Questions. Oral Answers. - Feed Grain Prices.
16.
While it is difficult to forecast the trend of world grain prices indications are that a substantial decrease in the price of feed grain is unlikely in the short term at any rate. The good cereal harvests this year appear to be sufficient only to meet the world demand and provide a modest increase in carry-over stocks which were reduced to a very low level at the end of the 1972-73 cereal year.
Can the Minister, as near as one can go, indicate or assure us that there is not likely to be this substantial decrease? I am aware that it is difficult to know to a fine detail but there are rumours that there is a decrease coming and it is not good in the market or in the business. Has the Minister any guidance to give us in this regard?
The information we have is that there has been a bumper harvest but there is also a great deal of activity in the cereal market. In the last week the price of maize went up by £2.50. This is due, to some extent, to very large purchases by Egypt and the fact that Morocco are on the point of making large purchases. It is also rumoured that China needs a lot of wheat. Of course, stores will empty. While this bumper harvest is there the indications are that there will not be any great drop in prices if prices can be kept at present levels, or slightly lower.