Since the price for rice was officially fixed at $21 per picul some days ago, the local rice situation has somewhat eased according to a high official of the Shanghai "Municipal Council who was interviewed following a meeting of the S.M.C. Food Committee yesterday. Rice dealers have been ce-operating in a satisfactory manner, it was revealed.
The Committee will meet again within a week to decide upon further measures which would lead to larger quantities of this vital commodity being imported to Shanghai. Of the present moment it was learned, the daily rice consumption within the perimeter is approximately 10,000 zars, whilst daily arrivals consist of 4,600 zars only. Even though the consumption and import should remain unchanged, stocks at present available here are sufficient for the next three months at least.
The quantity of rice arriving here has not been found satisfactory by the committee and ways and means are now being sought to increase the import from Wuhu, Quinsan, Soochow and other places to a considerable extent so as to make it possible to reduce the price in the near future.
Since the official fixing of the sales prices, the situation has been somewhat eased, the official continued, as speculators are not able to mani-plate, while the "Wei Wah" regulations which came into force at the same time have helped considerably as has the police supervision of rice markets where prices are carefully watched.
While it seems inadvisable to place orders for new rice supplies in Saigon at present in view of the unfavourable rate of exchange. the official stated that a number of far-sighted rice merchants have placed orders for between 500 and 1,000 tons during the past few days. This rice will cost agent $21 per picul, landed in Shanghai.
Text read from the printed page and cleaned; old type leaves the occasional error.