PRICE OF WOOL
Rise Thought Likely (N.Z. Press Assn.—Copyright) CANBERRA, Dec. 26. Wool prices could rise because of an expected increase in world consumption, the Bureau of Agricultural Economics says in its annual wool outlook survey. But the survey emphasises that recent reductions in prices of a number of synthetics adds to their competitive strength and could limit the extent of a wool price increase. The bureau says that world wool consumption in 1960 was estimated 3200 m lb clean, and on present trends it could be about 3200 m in 1961. It sums up the position in consumer countries as being: Japan: Upward trend of consumption should be resumed when present economic difficulties there are overcome. Britain: Buying seems likely to rise. U.S.: Increased wool textile sale can be expected. Europe: Outlook in Common Market area must be regarded as satisfactory because of generally rising levels of incomes and employment. Russia and China: Recently suffered a decrease in domestic production, which should lift their demand for wool imports.
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Press, Volume C, Issue 29706, 27 December 1961, Page 7
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169PRICE OF WOOL Press, Volume C, Issue 29706, 27 December 1961, Page 7
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