§ Mr. William Hamiltonasked the Minister of Agriculture, Fisheries and Food what has been the increase in the average price of beef in the last six months; and what was the comparable figure in the first six months of 1970.
§ Mrs. FennerThe best available indication of such movements in beef prices is given in the following table of retail prices:
should not increase their cash margins during the standstill. My right hon. Friend is satisfied that in general this requirement is being observed throughout the retail food trade, but if my hon. Friend has any evidence to the contrary I shall be pleased to investigate it.
§ Mr. David Mitchellasked the Minister of Agriculture, Fisheries and Food if he will now publish a table showing the average open market world price in sterling for the principal agriculture products imported into the United Kingdom for the years 1960, 1965, 1969, 1970, 1971 and 1972, respectively.
§ Mrs. FennerThe following table provides quotations of prices on London and New York commodity markets of particular qualities of the main food products imported into the United Kingdom; these quotations are normally taken as providing the nearest broad indication of average world price trends:
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AVERAGE MARKET PRICES(a) OF PRINCIPAL AGRICULTURAL PRODUCTS Commodity Country of Origin Place of Quotation Unit 1960 1965 1969 1970 1971 1972 BEEF Topsides … Argentina(b) … Smithfield … Pence per lb. — — — 25.7 29.8 31.6 Hinds … Eire(c) … Smithfield … Pence per lb. — — 17.1 18.7 21.9 25.8 LAMB … New Zealand … Smithfield … Pence per lb. 10.4 11.6 13.3 13.3 13.7 18.0 BACON … Denmark(d) … London (c.i.f.) … £ per ton 283 283 348 371 356 418 BUTTER Finest salted … New Zealand … London (c.i.f.) … £ per ton 309 333 300 311 429 489 Salted … Denmark … London (c.i.f.) … £ per ton 329 368 356 383 502 526 CHEESE … New Zealand(e) … London (c.i.f.) … £ per ton 237 258 226 244 342 479 WHEAT … Canada(f) … London (c.i.f.) … £ per ton 27.0 29.2 32.7 33.9 32.6 35.5 MAIZE … USA … London (c.i.f.) … £ per ton 20.9 24.1 25.8 30.1 28.6 27.4 SUGAR … Various(g) … New York … £ per ton — 16.8 31.6 35.2 43.6 67.3 Various … London daily price … £ per ton 28.7 21.5 33.8 40.4 46.3 72.9 TEA … All sources … London auction … Pence per kilo 51.3 45.7 40.7 45.6 43.3 42.0 COFFEE Santos … Brazil(g) … New York … £ per ton 292.8 360.5 377.5 502.2 413.0 462.4 Robusta … Uganda … London (c.i.f.) … £ per ton 156 226 396 367 364 377 COCOA … Ghana/Nigeria … London (c.i.f.) … £ per ton 215 133 397 290 226 264 (a) Annual averages calculated from weekly market quotations.
(b) Not quoted before December 1969.
(c) Prices before 1968 are not available.
(d) Danish A selection up to September 1968 and Danish A1 selection thereafter.
(e) Finest white waxed cheddar up to December 1970 and finest white rindless cheddar thereafter.
(f) No. 2 Manitoba up to September 1971 and No. 1 Western red spring thereafter.
(g) Average spot rates of exchange have been used in converting New York prices into sterling
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