§ 26. Mr. Bullardasked the Minister of Food whether, as a consequence of exporting malting barley, he will take steps to see that the currency earned in the transaction is used to purchase additional quantities of feeding grain from abroad.
§ Major Lloyd GeorgeAny shortfall in the anticipated receipts of home-grown grain into the ration pool as a result of these small exports will be made good by increased imports.
§ Mr. BullardCannot the Minister augment the existing supply of homegrown feedingstuffs, at all events later in the year, by using any profit he may make on selling this malting barley abroad in buying feeding grain?
§ Major Lloyd GeorgeI am sure my hon. Friend will realise that the amount involved, which is about 120,000 tons, would not make a very great impression upon the feedingstuffs pool, which he knows is much bigger.
§ 31. Captain Duncanasked the Minister of Food why he has allowed the export of 120,000 tons of barley from this country; and what effect this will have on the proposal to deration animal feedingstuffs.
§ Major Lloyd GeorgeTo earn a trading profit in European Payments Union currencies.
The answer to the second part of the Question is, "None." The amount exported is small and any shortfall in deliveries to the ration pool will be made good by imports.
§ 39. Captain Soamesasked the Minister of Food how many tons of barley were exported from the United Kingdom between 1st August and 1st October, 1952; and to what extent it is proposed to export any further quantities.
§ Major Lloyd GeorgeAccording to the records of my Department, approximately 71,000 tons. A further quantity, not exceeding 50,000 tons, may be shipped between 1st October and 30th November.
§ Captain SoamesPresumably this barley was sold at malting prices. Can the Minister give an assurance that the amount of foreign currency gained through this deal will be spent on purchasing cheaper feeding barley abroad, so that there may be more feedingstuffs in this country this year than there would have been had this deal not taken place?
§ Major Lloyd GeorgeI could not say that, but any short-fall there may be in the agreed level will be made up out of this. The question of what use will be made of it as a whole will depend on circumstances.
§ Mr. P. RobertsIs the Minister aware that this malting barley was sold at the good price of 130s. a quarter and that since the Minister prevented any further export the price of malting barley has slumped to 100s. or less. Is he further aware we are losing a valuable export possibility by not exporting this malting barley at a good price, when there is no demand for it at home?
§ Major Lloyd GeorgeThe fact is that, owing to the very heavy harvest it came at a time when there was a great deal in store and the fact that there was a glut might have affected the price even more. We took advantage of the opportunity which was offered.
§ Mr. RobertsWill the Minister consider doing it again at a later date?