§ MR. REMERasked the Minister of Food whether since August last the price of hogs in the United States of America has fallen from 24s. to 12s.; whether it is an invariable rule of the trade in this country in the past that a fall in the price of hogs would have resulted in a reduction in the price of bacon; and why there has been no reduction in the price of bacon in that period?
§ Mr. McCURDYThere has been a considerable fail in the price of hogs in the United States since control of bacon was. resumed in August, although the figures given by the hon. Member are not quite accurate. I cannot assent to the suggestion made in the second part of the question that a fall in the price of hogs should invariably and automatically result in a reduction in the price of bacon; but it might reasonably result in the averaging of the cost prices for the purpose of arriving at a reasonable retail price. Immediately control of bacon was resumed on 9th August the wholesale price of American bacon was reduced by approximately 15s. per cwt. and that of Canadian by approximately 25s. per cwt., in order to avoid any increase in the retail price. As I have previously stated, since the resumption of control bacon has been sold by my Department at below cost price owing to these reductions, and it is the Food Controller's intention to reduce the retail price as soon as the cost, including the loss on exchange, permits.