Wool Commission’s first day of work

Press, Volume CX, Issue 32460, 21 November 1970, Page 22

Wool Commission’s first day of work

(N.Z.P. A.-Reuter—Copyritiht) PERTH, November 19. The Australian Minister I for Primary Industry (Mr Douglas Anthony) said in Perth this week that he was very pleased with the Australian Wool Com-mission’s-first day of operI ations at Brisbane and Melbourne. A strengthening of prices reflected the degree of confidence that was returning to i the market, he said. The 15 Ito 20 per cent rise in Brisbane compared with October sales, and the 10 per cent I increase in Melbourne, would be most heartening for the industry. The commission must be congraulated on implementing the reserve - price mechanism effectively and smoothly at short notice, he said. Mr Anthony said that the imposition of a rigid reserve price for wool could have very damaging consequences. “If we try tohold the users of wool to ransom, or if we tend to shatter confidence in the way | we market wool, they might forget wool or use a minimum amount of it, and turn: to synthetics,” he said.

Wool had a major competitor in synthetics and: “we just have to face that competition,” he said. Mr Anthony said he foresaw the introduction of sale by sample as one of the’ greatest changes in the wool! industry’s attitude to modern methods of handling and merchandising wool. But he said: "Unless we have a! body backed by legislation,: I do not think we can bring! changes rapidly enough to’ meet the crisis facing the) industry.”