China big wool buyer

Press, 31 May 1985, Page 2

China big wool buyer

PA Wellington China has emerged as the leading buyer of New Zealand wool, taking 89 per cent more in the first nine months of this season.

The most important increase in added value scoured wool exports has been to China, traditionally a greasy raw wool purchaser, said the Wool Board yesterday. China is now the leading buyer of New Zealand wools, totalling 29,038 clean tonnes in the period to March 31, up 89 per cent on the same period last year and already 9308 tonnes more than its total purchases last season, it said. Last season’s top customer, Japan, now holds

second place with purchases up 19 per cent to 28,336 tonnes.

Local New Zealand textile mills now hold third place with purchases up 32 per cent to 26,052 tonnes.

The board said that after nine months of the present wool season the total value of wool exports had exceeded that for the whole of the last season. At the end of March, F. 0.8. wool export returns totalled $1145 million, up 39 per cent from the previous corresponding nine months period and $27 million more than the total 1983-84 value.

While the total tonnage exported increased 5 per cent to 209,141 clean equivalent tonnes, added value scoured wool exports in-

creased 11 per cent. More than half the wool exports now underwent first-stage processing within New Zealand before shipment, the board said. Other notable export increases include Britain (up 19 per cent to 25,185 tonnes). Belgium (up 112 per cent to 14,276 tonnes), the Federal Republic of Germany (up 14 per cent to 12,228 tonnes) and Italy (up 8 per cent to 10,517 tonnes). A significant trend throughout the first nine months of the wool season has been the substantially increased exports to smaller markets, particularly Spain, Mauritius, Turkey. Yugoslavia, and Pakistan, said the Board.