Minister Hits Wool Critics

Press, Volume CVIII, Issue 31659, 20 April 1968, Page 1

Minister Hits Wool Critics

(N.Z. Press Association) INVERCARGILL, April 19. “As soon as the chairman of the Wool Commission announced that the commission would offer for sale next season a quantity of wool from its stockpile at market rates, the Jeremiahs were in,” the Minister of Agriculture (Mr Taiboys) said in Invercargill today in a strong attack on recent criticisms of the commission. "Those who seek to destroy the commission, and those who hope that by belting the commission they will hit the Government, joined forces to attack,” Mr Taiboys said. “It is a sad fact that some who have benefited from the operations of the commission decided the time was ripe to have a go too,” he added.

“But now that some of the dust is beginning to settle, other opinions are being heard. In its issue of April 4, the ‘Weekly Wool Chart,’ published in Bradford, stated: ‘“The trade in Bradford has, in general, welcomed the clarification of policy, it has recognised that the stockpile would have to be disposed of at some time, and that the likelihood of a rise in prices above the buying-in level was remote. The commission’s proposal has the virtue of interfering as little as possible with the free auction system, although this will result if inter - government sales arise.’ ” Mr Taiboys said the “Wool

Record,” another influential Bradford journal, had also welcomed the decision as a demonstration that the commission was facing the economic facts of life. “There have been those who have suggested that the commission should not have made any announcement, but should simply have started easing wool from the stockpile on to the market,” Mr Taiboys said. “No imagination is required to visualise the headlines and the round of criticism such a policy would have stirred up.” He said the commission had: Announced its policy for the 1967-68 season, and stuck to it.

Helped to inspire a greater degree of market confidence than many thought possible. And that it would: Carry out its new policy next season with the same measure of caution and flexibility. Continue to have the growers' interests “very much at heart.” “From the growers’ point of view, it is true that selling from the stockpile will have the effect of preventing any spectacular upward movement in prices, but the buyer won’t miss the point that he can buy with the certain knowledge that the commission will be a cautious seller,” said Mr Taiboys.