WOOL DISTRIBUTION

Evening Star, Issue 25633, 6 November 1945, Page 6

WOOL DISTRIBUTION

PARTIAL RESTORATION OF PREWAR METHODS PERSONAL IMPORT AGAINST RATIONS (N.Z.I’.A. Special CorrespuiKicinj (Rec. 11.5 a.m.) LONDON, Nov. 5. It is officially announced m Bradford that wool merchants and topmakers may forthwitn arrange to import against their rations ot wool from isew Zealand, Australia, or South Africa. This is regarded as one of the most important wool trade developments If or several years, as it restores freedom for a limited amount of commercial importation of dominion wool into Great Britain after six years, during which the United Kingdom Government has been the sole importer. The arrangement does not relax control for these imports, which will be confined to rationed quantities, and to the types of wool needed for planned production in British manufactured goods; but it gives the trade the long-awaited direct access to the wider selections of wool found only in the dominion supplies.

The authorities recognise that it would not be easy for firms here to obtain delivery oit' wool from the distant dominions and process it for sale in the current November-February wool ration period, so firms are to be allowed to buy abroad at once on account of rations. They will be required to sell here during the period March-Juue next. This will afford ample time for importing and processing before the sale to ultimate customers.

They may also buy current NovemberFebruary rations in the dominions if considered practicable. Wool bought under this scheme will enjoy United Kingdom shipping priorities. New Zealand must not expect a United Kingdom wool demand on the pre-war scale at this stage. At present only half the total wool requirements for the British mills is passing through the merchants and topmakers’ hands—the rest being supplied by control—so that at most only half of Britain’s current requirements can possibly be subject to commercial importations arrangements, and part of that half will almost certainly bo required from spot stocks here. An important feature is that wool is gradually moving back to pre-war methods of distribution, and it is expected that the volume of wool to pass through normal channels of supply will be gradually increased in later periods. Meanwhile, it must be understood that traders here cannot import wool to stock, but may buy only rationed quaiu tities for the current needs of industry. Sales, in the dominions will be on a “ from store ” basis (except New Zealand slipes and scoured 6, which will be sold f.0.b.), and sterling payment in London for the amount of the invoice rendered to the buyers’ agent by the New Zealand Marketing Division will become due within 14 days from the date hf sale to the buyers’ agent, in New Zealand. It is announced here that the committee of London wool brokers which ordinarily organises the London wool sales will in future sell on behalf of Wool Control that portion of the wool ration which British merchants and topmakers acquire from United Kingdom stocks. London auctions are not to be resumed at this stage, and wool will be on sample with the buyers enjoying a limited choice from the display of samples.