Right Hon. C. D. HOWE (Minister of Trade and Commerce):
I wish to make an announcement concerning the 1948 crop of flaxseed. The government has been advised that to meet our domestic requirements we can do with a somewhat smaller acreage of flaxseed than was sown last year. There are some definite signs of easing in the world situation on oil bearing seeds and distinct possibilities that we will no longer have the serious shortage that we have been facing for the past several years. With this changing situation in mind, it has been decided that the Canadian wheat board will be instructed to support prices of $4 per bushel for the top grades of flaxseed, basis delivered at Montreal or basis in store at Fort William/Port Arthur for the 1948-49 crop year commencing next August 1, should the market drop to that level. On the same date, the wartime prices and trade board ceiling of $5 per bushel will be removed, thus permitting buyer and seller to trade freely at prices above the support levels. In any event, the producers sowing flaxseed this year will be sure of a price not less than $4 per bushel for top grades.
Subtopic: ANNOUNCEMENT OF PRICE FOR 1948-49 CROP TEAR