$51m wool aid

Press, Volume CXII, Issue 33058, 27 October 1972, Page 13

$51m wool aid

(NZ Press Assn. —Copyright/

CANBERRA, Oct. 26. Deficiency payments for wool are estimated to have cost the Australian Commonwealth about sslm in the year 1971-72. This is within the 360 m set aside fov the scheme in the 1971 Budget.

The estimate was given by the Minister for Primary Industry (Mr Sinclair), in a report tabled in the Federal Parliament today. The deficiency-payments scheme, introduced at a time of drastically falling wool prices, covered sales from July 2, 1971. No payments had been made for the remainder of the selling season since the I beginning of February, 1972, (because rising prices brought

Ithe average for the clip above (the critical leve. of 79.37 c a jkilo or 36c a pound. SYDNEY SALE On the final day of the Sydney wool sale, today, 18,939 bales were offered. Good general competition came from buyers for Japan, the Continent and Eastern European countries, with support from Britain. The market for all descriptions of Merino fleece and skirtings, comeback, crossbred and carding wools was 5c to 10c a clean kilo down on closing levels yesterday. LAUNCESTON And the Launceston wool sale today was fully firm on closing levels in other centres yesterday.

Fine and crossbred wools moved in sellers favour and Eastern and Western Europe were still the main customers for the 13,285 bales on offer.