§ Colonel Masonasked the President of the Board of Trade whether he is aware that, in the third year of the International Sugar Agreement commencing 1st September next, supplies available to the world open market total little short of 3,700,000 tons, and that a surplus of something like 600,000 tons is indicated; that so large a surplus presages a return to an uneconomic price level unless an adequate adjustment is effected; and whether he will assure the House that the Government feel the same concern over the question of maintaining an economic price for sugar as was displayed at the time the agreement was proposed, and will take the same energetic action with this object in view as has been accorded in the present situation of temporarily higher prices?
§ Mr. StanleyI am aware that the basic quotas of the countries supplying the Free Market under the International Sugar Agreement (that is, apart from that part of the British Empire consumption which is retained for British suppliers) total just under 3,700,000 tons, and that this quantity appears likely to be in excess of probable world demand; but I cannot anticipate the precise estimates which will2104W be made by the International Sugar Council when they meet to consider supplies for the third quota year. As regards the last part of the question, the adherence of His Majesty's Government to the International Sugar Agreement should be sufficient evidence of their desire to see economic prices for sugar maintained. I would remind my hon. and gallant Friend, however, that the apparent excess of supplies over demand is purely an excess of foreign supplies.