WOOL IN SYDNEY

Evening Post, Volume CXXIV, Issue 61, 9 September 1937, Page 12

WOOL IN SYDNEY

JAPANESE HOLD ALOOF

{By Telegraph—Press Assn.--Copyright.) SYDNEY, September 8. | At the-wool sales 10,834 bales were offered and 8144 were sold, while 871 bales were disposed of privately. There was good general Yorkshire and Continental competition, but the Japanese are still holding aloof. ' The market was firm, with some irregularity on inferior fleece and low skirtings. Greasy merino realised to 22,? d. Discussion in Japan regarding her imports of wool for .this season is of particular importance to Australia, as under the trading agreement Japan is committed to buy riot less than 500,000 bales in the Commonwealth this selling year, an increase of approximately 200,000 bales on her purchases last season. The: quantity Japan has contracted to buy at Australian sales constitutes the greater part of her annual requirements. ■ Between 1930 and 1935 Japan's imports of. wool ranged from 382,000 to 811,666 bales. Of these total imports from 85 to 98 per cent, were from Australia. The total imports in 1936 were 723,533 bales, of which 71 per cent, were from Australia. For the season ended June 30 last less than half Japan's imports were secured in Australia; Restriction of imports during this 1937-38 season would have disabilities for Japan from the trading standpoint. Because of her increased purchasing in South Africa, New Zealand, and South America, Japan has experienced considerably larger exports of manufactured goods to those countries, but war-time exigencies may demand the sacrifice of some of that business.