Committee Reports > List of Committees > Dáil > 1941 > Committee of Public Accounts > Interim and Final Report - Appropriation Accounts 1939 - 1940

APPENDIX XIX.

PROFIT ON IMPORTATION OF SEED WHEAT.

With reference to my undertaking at a recent meeting of the Public Accounts Committee to furnish information regarding the margin of profit allowed to the importing seedsmen in respect of Diamante Wheat imported two years ago under Government guarantee the following is the required information:—

In order to secure the importation of this seed wheat it was necessary to come to an arrangement with the importing firms before they would take any steps towards purchasing the seed and it was therefore not possible at that stage to ascertain what the actual landed cost of the wheat would be. It was estimated, however, from such information as could be obtained—in the light of other importations at that period—that the cost to the importers, would be between 30/- and 35/- per barrel.

The total quantity of wheat actually imported was 29,124 barrels at a total cost of £46,851 or 32/2d. per barrel. The total quantity sold by the importing seedsmen was 21,803 barrels. It was agreed that the selling price should not exceed 40/- per barrel and on the basis of that figure the gross margin did not exceed 7/10d. per barrel.

The balance of wheat remaining unsold in the hands of the seedsmen was disposed of by the Department at a loss of £896 2s. 6d.

(Signed) D. TWOMEY,

Accounting Officer.

Department of agriculture,

18th June, 1941.