623.3531/4–747: Telegram
The Ambassador in Peru ( Cooper ) to the Secretary of State
263. Mytel 231, March 21 [22]. Foreign Minister informed me this morning Argentine wheat price to Peru “nearly double”, apparently to stimulate Peruvian action on Argentine trade proposals still pending. On c.i.f. Callao basis present quotation 510 pesos equivalent US $149.50 per metric ton against approximately US$105 for American wheat. Under these conditions additional purchases Argentine wheat will further weaken Peru’s exchange position and contribute to existing economic dislocation. Recommend re-examination US wheat position (urtel 152, March 25) with view offering shipments covering third quarter requirements of about 40,000 tons.