The wholesale price of Chinese rice ranged from $10.70 to $1250 per picul in Shanghai on Friday morning, while the retail figures were 10 [cents higher.
Tt was learned that the Bureau of Social Affairs had issued a notice prohibiting any excessive increase in [the local price, which recently has been affected by drought conditions.
It is reported that the Bureau has reached an understanding with prominent local rice dealers that the maximum price of rice be limited to $13 per picul.
An application has been made by Koo Shing-ili, a leading rice dealer, the National Government for permission to import $00,000 piculs of foreign rice in order to alleviate the rice situation in Shanghai in con-Jsequence of the drought. The application also suggests that the import duties on this consignment lof the cereal be exempted or reduced.
The Bureau of Social Affairs has verbally notified rice "dealers to reduce the quantity of cereal loaded fon their boats for the present befeause of the shallowness of most Jereeks in this rogion—a condition brought about by the drought.
Text read from the printed page and cleaned; old type leaves the occasional error.