WILL JAPAN BUY?

Auckland Star, Volume LXVIII, Issue 270, 13 November 1937, Page 10

WILL JAPAN BUY?

DOMINION'S WOOL.

FRENCH BUYER DOUBTFUL

LOWER PRICES FORECAST.

Is Japan going to buy wool this year? If so, how much, and where? These questions have been exercising the minds of the mercantile community, not only in New Zealand, but in producing countries the world over, during the past few months. A partial answer to the queries was given by M. Paul Farvaque, a French wool buyer, who has been operating in New Zealand for nine years, when he arrived in Auckland this morning by the Napier Star from Liverpool.

"You may not have Japan you this year," he said. "I do not think Japan will buy. She bought heavily in New Zealand last year and still has good supplies, and, moreover, I do not think she has too much money.''

M. Farvaque, discussing the downward tendency noted at the first London and Sydney sales, forecast that prices would be sustained at a lower level than last season, with a possible drop of as much as 4d. Reduced prices were also predicted by other buyers who arrived in the same ship.

France this year would buy to about the same extent as last season, said M. Farvague, and possibly a little more. The rapid devaluation of the franc was an excellent thing for France's external trade, and gave her greater purchasing power abroad.

With M. Farvaque were Herr Bruno Beyer (Germany) and Messrs. J. N. M. Watkins and S. D. Walker (Great Brita-in). The buyers are departing for Wellington, and will return to Auckland three or four days before the first sale at Auckland on November 27.