Wool cheque went up 30 per cent

Press, 27 August 1977, Page 4

Wool cheque went up 30 per cent

PA Wellington New Zealand's wool cheque for the 1976-77 season was 30 per cent higher than for the previous season, even though 5.2 per cent less weight of wool was sold. These figures were announced by the Woo) Marketing Corporation in a summary of the latest season. During the 197b-77 season. 1,313,563 bales of greasy and 32,297 bales of scoured wool weighing 205.021 tonnes were sold a - auction in New Zealand for 8445.298 M. During the previous season, 1.383.197 bales of greasy and 30,277 bales of scoured wool weighing 216,330 tonnes were sold for 5342.211 M. The average price realised for greasy wool sold in the last season was 219.58 cents a kilogram, • ompared with 157.12 cents a kilogram for the 1975-76 season. For the 1976-77 season,

private sales of wool amounted to 336,284 bales, compared with 352,289 bales during *he previous season. In addition, the corporation purchased 52.552 bales from growers under the extra chouce scheme during the 1976-77 season. During the 1976-77 season. approximately 10.8 per cent less wool was scoui ed in New Zealand than in the previous season, while 64.472 (an increase of 12.3 per cent) bales of greasy, scoured and slipe wool were shipped for sale at auction at Bradford. Estimated production for the 1976-77 season was 302.500 tonnes on a gr-Lsy equivalent basis. This was 3 per cent less than the 311,800 tonnes produced in 1975-76. The summary shows that during the 1976-77 season, 1.776.114 bales of woo) were exported, which was 6.7 per cent down on the previous season’s total. The decrease was partly caused by lower production and partly by the absence of releases of stockpile wool, with cor-

poration stocks rising during the season by 57,000 bales.

The F. 0.8. value of wool exports for the season. at 8645.3 M was a 41 per cent increase o.> the 5455.7 M realised the previous season. The United Kingdom increased its purchase of New Zealand wool to 332.531 bales (a rise of 61,713 bales) and retained its position as New Zealand’s most important customer. Wool was exported to 45 countries during the season, with the eight E.E.C. countries taking about 50 per cent. Eastern Europe 15 per cent and the Mediterranean area ; nd East Asia 12 per cent each. The corporation made market intervention bids oi. 256,762 bales during the season, buying in 75,624 bales. After opening the season with a stockpile of 49,961 bales, the corporation ended the season with 103.801 bales, buying in 135,195. selling 80,827 and losing 528 in bale reduction.