//
© 2026 Zoe. All rights reserved.
Zoe is a legal information platform. Always consult the Federal Register of Legislation for authoritative text.
Commonwealth act
This Act has been repealed and is no longer in force. It is retained for historical reference.
This Act gives formal parliamentary approval for Australia to accept the International Wheat Agreement and brings that international treaty text (set out in the Schedule) into Australia’s legal posture. It makes Australia subject to the Agreement’s mechanics: guaranteed import/export quantities, dollar price bands, reporting and record‑keeping, budget contributions and membership of an International Wheat Council. Who pays and who decides are set by the Agreement: contracting governments meet assessed contributions (Article XVI) while the Council and its committees set prices, records and adjustments (Articles III, VI, XI).
Want the full deep dive?
Zoe can write the in-depth analysis on top of the summary above: how it works, who it affects and what each part actually does.
Direct links to the current provisions in International Wheat Agreement Act 1948.
Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.
INTERNATIONAL WHEAT AGREEMENT.
No. 21 of 1948.
An Act to approve Acceptance by Australia of the International Wheat Agreement.
[Assented to 24th June, 1948.]
BE it enacted by the King’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, as follows:—
Short title.
Commencement
Definition.
“the International Wheat Agreement” means the agreement signed at Washington in the United States of America on behalf of Australia and other countries a copy of which is set out in the Schedule to this Act.
Approval of acceptance.
Section 3. THE SCHEDULE.
INTERNATIONAL WHEAT AGREEMENT
Preamble
The Governments on whose behalf this Agreement has been signed,
Recognizing that there is now a serious shortage of wheat, and that later there may be a serious surplus;
Believing that the high prices resulting from the present shortage and the low prices which would result from a future surplus are harmful to their interests, whether they are producers or consumers of wheat; and
Concluding therefore that their interests, and the general interest of all countries in economic expansion, require that they should co-operate to bring order into the international wheat market,
Have agreed as follows:
Article I (Objectives)
The objectives of this Agreement are to assure supplies of wheat to importing countries and to assure markets to exporting countries at equitable and stable prices.
Article II (Rights and Obligations of Importing and Exporting Countries)
(a) may, in accordance with the provisions of paragraph 2 of Article IV, require that country to purchase at the minimum prices specified in or determined under the provisions of Article VI for shipment during the current crop-year from the exporting countries; or
(b) may, in accordance with the provisions of paragraph 1 of Article IV, require the exporting countries to sell to that country at the maximum prices specified in or determined under the provisions of Article VI for shipment during the current crop-year.
(a) may, in accordance with the provisions of paragraph 1 of Article IV, require that country to sell at the maximum prices specified in or determined under the provisions of Article VI for shipment during the current crop-year to the importing countries; or
(b) may, in accordance with the provisions of paragraph 2 of Article IV, require the importing countries to purchase from that country at the minimum prices specified in or determined under the provisions of Article VI for shipment during the current crop-year.
In the event of any country listed in Annex 1 to Article II (a) not signing or (b) not formally accepting or (c) withdrawing from or (d) being declared in default of this Agreement, the guaranteed purchases of such country shall be redistributed by the Council to those importing countries which desire to guarantee additional purchases. The redistribution to such countries shall be pro rata to their existing guaranteed purchases, unless the Council should otherwise decide by a simple majority of the exporting and importing countries voting separately. Should the additional purchases which contracting importing countries desire to guarantee be less than the guaranteed purchases of the countries referred to in (a), (b), (c), and (d) above, the Council shall reduce pro rata the figures in Annex II to Article II by the amount necessary to make the total of them equal to the total of the figures in Annex I to Article II.
The Council may at any meeting approve an increase in any figure or figures in either Annex if an equal increase is simultaneously made in a figure or figures for the same crop-year or crop-years in the other Annex, provided that the representatives of the exporting and importing countries whose figures may thereby be changed concur.
The Schedule—continued.
ANNEX I TO ARTICLE II (GUARANTEED PURCHASES)
<table cellspacing="0" cellpadding="0" style="width:100%; margin-bottom:0pt; border-collapse:collapse"><tbody><tr style="height:1pt"><td style="width:29.82%; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:1.62pt; padding-left:2pt; vertical-align:middle"><p style="margin-bottom:0pt; text-align:center; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">August-July.</span></p></td><td style="width:11.14%; border:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:middle"><p style="margin-bottom:0pt; text-align:center; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">1948</span><span style="font-family:'Times New Roman', serif">–</span><span style="font-family:'Times New Roman', serif">49.</span></p></td><td style="width:11.2%; border:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:middle"><p style="margin-bottom:0pt; text-align:center; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">1949</span><span style="font-family:'Times New Roman', serif">–</span><span style="font-family:'Times New Roman', serif">50.</span></p></td><td style="width:10.98%; border:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:middle"><p style="margin-bottom:0pt; text-align:center; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">1950</span><span style="font-family:'Times New Roman', serif">–</span><span style="font-family:'Times New Roman', serif">51.</span></p></td><td style="width:11.94%; border:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:middle"><p style="margin-bottom:0pt; text-align:center; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">1951</span><span style="font-family:'Times New Roman', serif">–</span><span style="font-family:'Times New Roman', serif">52.</span></p></td><td style="width:11.3%; border:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:middle"><p style="margin-bottom:0pt; text-align:center; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">1952</span><span style="font-family:'Times New Roman', serif">–</span><span style="font-family:'Times New Roman', serif">53.</span></p></td><td style="width:13.62%; border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:2pt; padding-left:1.62pt; vertical-align:middle"><p style="margin-bottom:0pt; text-align:center; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">Approximate equivalent in thousands of bushels.</span></p></td></tr><tr style="height:1pt"><td style="width:29.82%; border-top:0.75pt solid #000000; border-right:0.75pt solid #000000; padding-right:1.62pt; padding-left:2pt; vertical-align:top"><p style="margin-bottom:0pt; text-align:justify; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif"></span></p></td><td colspan="6" style="border-top:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:2pt; padding-left:1.62pt; vertical-align:top"><p style="margin-bottom:0pt; text-align:center; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif; font-style:italic">Thousands of metric tons*</span></p></td></tr><tr style="height:1pt"><td style="width:29.82%; border-right:0.75pt solid #000000; padding-right:1.62pt; padding-left:2pt; vertical-align:top"><p style="margin-bottom:0pt; text-align:justify; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">Afghanistan</span><span style="width:82.01pt; font-family:'Lucida Console', monospace; display:inline-block">...............</span></p></td><td style="width:11.14%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:14.4pt; margin-bottom:0pt; text-align:right; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">20</span></p></td><td style="width:11.2%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:14.4pt; margin-bottom:0pt; text-align:right; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">20</span></p></td><td style="width:10.98%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:14.4pt; margin-bottom:0pt; text-align:right; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">20</span></p></td><td style="width:11.94%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:14.4pt; margin-bottom:0pt; text-align:right; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">20</span></p></td><td style="width:11.3%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:14.4pt; margin-bottom:0pt; text-align:right; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">20</span></p></td><td style="width:13.62%; border-left:0.75pt solid #000000; padding-right:2pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:14.4pt; margin-bottom:0pt; text-align:right; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">735</span></p></td></tr><tr style="height:1pt"><td style="width:29.82%; border-right:0.75pt solid #000000; padding-right:1.62pt; padding-left:2pt; vertical-align:top"><p style="margin-bottom:0pt; text-align:justify; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">Austria</span><span style="width:99.51pt; font-family:'Lucida Console', monospace; display:inline-block">..................</span></p></td><td style="width:11.14%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:14.4pt; margin-bottom:0pt; text-align:right; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">510</span></p></td><td style="width:11.2%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:14.4pt; margin-bottom:0pt; text-align:right; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">510</span></p></td><td style="width:10.98%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:14.4pt; margin-bottom:0pt; text-align:right; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">510</span></p></td><td style="width:11.94%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:14.4pt; margin-bottom:0pt; text-align:right; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">510</span></p></td><td style="width:11.3%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:14.4pt; margin-bottom:0pt; text-align:right; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">510</span></p></td><td style="width:13.62%; border-left:0.75pt solid #000000; padding-right:2pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:14.4pt; margin-bottom:0pt; text-align:right; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">18,739</span></p></td></tr><tr style="height:1pt"><td style="width:29.82%; border-right:0.75pt solid #000000; padding-right:1.62pt; padding-left:2pt; vertical-align:top"><p style="margin-bottom:0pt; text-align:justify; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">Belgium</span><span style="width:95pt; font-family:'Lucida Console', monospace; display:inline-block">.................</span></p></td><td style="width:11.14%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:14.4pt; margin-bottom:0pt; text-align:right; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">650</span></p></td><td style="width:11.2%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:14.4pt; margin-bottom:0pt; text-align:right; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">650</span></p></td><td style="width:10.98%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:14.4pt; margin-bottom:0pt; text-align:right; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">650</span></p></td><td style="width:11.94%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:14.4pt; margin-bottom:0pt; text-align:right; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">650</span></p></td><td style="width:11.3%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:14.4pt; margin-bottom:0pt; text-align:right; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">650</span></p></td><td style="width:13.62%; border-left:0.75pt solid #000000; padding-right:2pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:14.4pt; margin-bottom:0pt; text-align:right; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">23,883</span></p></td></tr><tr style="height:1pt"><td style="width:29.82%; border-right:0.75pt solid #000000; padding-right:1.62pt; padding-left:2pt; vertical-align:top"><p style="margin-bottom:0pt; text-align:justify; line-height:normal; font-size:9pt"><span style="font-family:'Times New Roman', serif">Brazil</span><span style="width:104.01pt; font-family:'Lucida Console', monospace; display:inline-block">...................</span></p></td><td style="width:11.14%; border-right:0.75pt solid #000000; border-left:0.75pt solid #000000; padding-right:1.62pt; padding-left:1.62pt; vertical-align:top"><p style="margin-right:14.4pt; margin-bottom:0pt; text-align:right; line-
This is an opening excerpt, not the complete document.