§ 79. Mr. Willeyasked the Minister of Food in what circumstances his Department has incurred during 1954–55 a trading loss of£3,200,000 on sugar; and how much of this loss has been incurred on sales to foreign countries.
Dr. HillThe estimated trading deficit is due to the considerable rise in freight rates and to the cost of holding and disposing of the stocks (now being rapidly reduced) which were necessarily acquired to ensure the success of sugar derationing. It would be difficult precisely to estimate in isolation the proportion of losses due to foreign sales.