WOOL PURCHASES DOUBLED

Press, Volume LXXVII, Issue 23319, 3 May 1941, Page 8

WOOL PURCHASES DOUBLED

Local Manufacturers’ Activities EXPENDITURE £750,000 THIS SEASON The use of New Zealand wool by local manufacturers* which increased heavily last year, has shown a heavy increase again this year, and for the present wool season, which has still three months to go, purchases have been double those of two years ago. Purchases by local millmen.now represent 4.5 per cent, of the total output of New Zealand wool, and mean a payment to growers of approximately £750,000. , • In the present season, local mills have bought about 44,000 bales in New Zealand. The season has three months to run, but the main sales are now over, and the bulk of the clip has been dealt with. The wool left is mainly slipes, of which New Zealand mills do not take a large quantity, though this year they have taken more than usual.. This season’s purchases represent approximately 14,500.0001b out of a total production which will probably be about 325,000,0001b. Last year, local mills’ purchases were 10,400,0001b from a total production of 310,0u0,0001b. In 1939 purchases were 7,300,0001b from a total'production of 327,700.0001b, and/ in the nine years from 1931, to 1939 local mills took an average of fewer than 7,000,0001b a year. The local industry has since the war began beep very busy on defence orders, but a substantial part of the increase in consumption of wool has been brought about by the reduction In imports which has given local manufacturers a chance which they have not been slow to take. In the past, and until this year, the .bulk of the wool bought by local mills has been of finer grade, but this year a large part of the increased consumption has been accounted for by the purchase of crossbred wools r presumably for use in'army contracts. The value of wool taken by local industry this year will be about £750,000, against £504,538 last year. £312,169 in 1938-39, and £483,495 in 1937-38. Under the present system of sale of wool in New Zealand, local mills have been, given first preference at appraisements.