NZ to Have New S[?]

Deal

NEW ZEALAND expects to £2,000,000 sterling a year ft: years under an agree negotiated by the New Ze, Prime Minister, Mr. S. G. Ho on his recent visit to London!

The Dominion will buy su§. world parity prices from tW ginning of 1957, whereas un special arrangement, which v expire at the end of 1958 bought her sugar at a negotiated annually.

Previously, New Zealand H 75,000 tons of sugar each year Commonwealth sources —ms from Fiji and Australia, arrangement ends on Decemi next.

Thereafter, for seven years Zealand has undertaken to and Commonwealth sugar exj to sell, a similar quantity of' each year at prices based up« world price of sugar.

New Zealand takes about £4,1, worth of raw sugar a year. L about £45 a ton at present, I because of high freight (The UK, which is much fl away from the source of suppc her sugar landed there at £3J Mr. Holland said that an inr ate benefit of the arrangemr NZ consumers was that an wise inevitable increase in o retail prices would be avoided., had been recent steep incres shipping freights on raw sul New Zealand.

The general manager of thr in Auckland, Mr. A. C. Isaac that because of world p c fluctuating daily, and high rates, it was not possible as stage, to tell to what extent 1 tail price in New Zealand wo affected. However, he did noi( the decrease would be as mr a penny a pound. (World-parity price is ba* Cuban price, but sugar man is subject to so many agres and agreements within agres that it is almost impossiWj the layman to makes it work. The real w<\ Mr. Holland’s deal will be on how much the NZ houses going to get out of it apparently is not going to bee