HC Deb 20 July 1937 vol 326 cc1990-1W
Mr. Grenfell

asked the President of the Board of Trade whether he will state the average wholesale price of tea in each of the preceding four years, with the quantities of tea in stock in London, on comparable dates in each year, respectively; and whether it is contemplated that increased supplies will be encouraged in order to prevent unjustifiable prices from being imposed upon consumers?

Mr. Stanley

The following statement shows the annual average wholesale prices of tea sold at London auctions in each of the years 1933 to 1936, and the quantities in bonded warehouses in London at 31st December, 1933 to 1936:

Year. Annual average prices.* Stocks in bond in London at 31st December.
Pence per lb. Lbs.
1933 … 11.70 274,036,532
1934 … 13.27 286,884,700
1935 … 12.90 251,227,624
1936 … 13.07 218,146,506
* The prices are exclusive of import duty which was as follows:—
Standard Empire Preferential.
per lb.
1st January, 1933–21st April, 1936. 4d. 2d.
22nd April, 1936–31st December, 1936. 6d. 4d.
As regards the last part of the question, I would refer the hon. Member to the reply given to him on behalf of the Secretary of State for the Colonies on 6th July.

Mr. Leonard

asked the Secretary of State for the Colonies whether, in view of the serious decline in the imports of tea, he will take steps towards the immediate removal of the restricting scheme now restraining production to 87½ per cent. of the standard?

Mr. Ormsby-Gore

I am informed that the decrease of imports into this country in the early months of this year below the imports in the same months of 1936 is due to several causes, the most important of which is that increased supplies of tea are being taken by outside markets. The imports for June were approximately the same as for the last two years, and the increased release of 5 per cent. announced some two months ago, which means an addition of some 40 million lbs. annually to supplies, should be reflected in substantially increased imports in later months of this year.

While I should be happy to see some decline in the prices of common teas from their present level, I see many objections to approaching the other countries parties to the International Control Scheme with a view to its removal, nor do I think that such an approach, if made, would be successful.