WOOL SURPLUS VANISHING.

Auckland Star, Volume LIII, Issue 87, 12 April 1922, Page 11

WOOL SURPLUS VANISHING.

BAWHA STOCKS BOUGHT TTP. HIGHER PRICES XEXT YEAR. (By Telegraph.—Press Association.! WELLINGTON, Tuesday. The Hon. W. Nosworthy, Minister of Agriculture, stated to-day that he had received a report from the New Zealand Wool Committee to the effect that it Had received a cablegram from the j managing director oj the British Australian Wool Realisation Association J advising that the surplus stocks of wool lin South America have Wn a.-most totally .bought up, and that the Argentine and Uruguay are even clearer of wool tlnfn New Zealand. During the past six months salee of New Zealand. Argentine, and Uruguay avools have .equalled the full year's clip. The actual consumption has not been so large, but dealers are eager to lay in cheap stocks, because they begin to realise that the annual production of -crossbred wool is now substantially less, than the actual requirements, and that as Bawra stocks disappear a period of definite scarcity approaches. The British Australian Wool Realisation Association predicts that the prices of Xknv Zealand wools in 12 to IS months' time will be very substantially higher than the present rates. The New Zealand Wool Committee estimates that at the entl of May approximately only 45,000 bales of"l 92---0-1921 and 1921-1022 clips will remain unsold in Xew Zealand, and at the present rate of shipment all Imperial stocks of wool will have been shipped from Xew Zealand by the end of September.