Minimum prices up 10 p.c.

Press, 20 July 1984, Page 18

Minimum prices up 10 p.c.

The chairman of the Wool Board, Mr Doug Mcllraith, has announced an increase of 10 per cent on the minimum floor prices for the coming season. He said the table of minimum prices for wool to woolgrowers in the season beginning on August 9 will be based on a target average of 275 cents per kilogram greasy (369 cents clean). If, for the various types of wool, the market fails to reach the appropriate minimum price, the board will, under the minimum prices

scheme, supplement the market price up to the minimum level.

The new level will apply at all auction sales from and including the Christchurch sale on August 9. As provided in its acts and regulations the board will be prepared to have supplementations, where applicable, paid on greasy wool sold outside auctions (i.e. gprivately). Similarly, wool sold by growers at auction in the United Kingdom will be eligible for supplementation. The board said that in the light of the 1983-84 season’s market experience, along with the marked increase in world availability of fine wools in this new season the relativity between fine and coarse wools has been marginally reduced in favour of coarse wools. “As a result of this adjustment, the price levels applied over the range of wool types will reflect the greatest proportionate increases at the coarser end of production,” the board said. “Emphasis remains throughout on best support being provided to better grown and prepared wools.” The board said that to assist woolgrowers in evaluating specific type minimum prices, it would provide a comprehensive list of minimum prices on both clean and greasy bases. “These will be expressed

in tables showing the clean on the auction floor price, average yield and greasy

equivalent price at this average yield. “Individual prices will

vary according to the actual yield as valued by the board,” the statement said.