§ 27. Mr. G. B. Draysonasked the Minister of Food on how many occasions this year has his Department withdrawn hides from public auctions; and what is his policy in this connection.
§ Major Lloyd GeorgeLess than 3 per cent. of the total quantity of hides offered have been withdrawn at 10 of the 18 public auctions held between 1st January and 16th February. My policy is to obtain reasonable prices based on current 695 values and, in accordance with established trade practice, reserve prices are fixed for each auction.
§ Mr. DraysonIs the Minister aware that some of the prices his Department is expecting to get are well above the world prices, and that manufacturers are called upon to pay these higher prices for British hides and are unable to compete in foreign markets?
§ Major Lloyd GeorgeOnly 3 per cent. of the total volume have failed to reach those prices. By far the greater part of those were in one particular auction.