OUR BEST CUSTOMERS.

Auckland Star, Volume LXIX, Issue 280, 26 November 1938, Page 12

OUR BEST CUSTOMERS.

While it ifi true that the large bench of buyers at to-day s auction were fully representative of the world's wool cori•sliming countries, it did not follow that all were bidding. At the November sale two was Japanese competition which set a fa*t pace for the others, and led the way for the most successful wool vear the Dominion had experienced. Last year there was little competition from American, < anadian or Japanese buyers, and New Zealand woolgrowers had perforce to fall back on Bradford, with France and Cermanv ranking next a* the most important purchasers. The United Kingdom took 03 per cent of our total exports last year, but of that quantity one-fifth was shipped as optional. In other words, it was prohablv destined for re-export to other countries. Hopes of increased purchases of wool for America in New Zealand this season have been strengthened by the new Anglo-American trade agreement. Most of the benefit i«s expected, however, to come indirectly through a stimulus to export of woollen textiles from England to America, which may encourage Bradford agents to buy more wool in this country. To-day there was a particularly big bench, no less than 70 buyers occupying seats fronting the auctioneer. However., a substantial proportion was apparently uiainlv engaged in taking notes and watching the course of the market. This included two Japanese, who were not operating as buyers. The bulk of the bidding came from about a dozen representatives in the front rows who buy chiefly for Bradford and the Continent, with'occasional American orders, while representatives of New Zealand woollen mills were occasionally heard when lot* suitable to their special requirements were offered.

However, it is quite jjpssihle that some of the wool sold to-day may go to Japan.