THE WOOL TRADE

Hawke's Bay Tribune, Volume XXIII, Issue 106, 18 April 1933, Page 7

THE WOOL TRADE

PRODUCTION WELL MAINTAINED PHENOMENAL JAPANESE BUYING. REVIEW OF WORLD CONDITIONS. By Telegraph—Brees Assn.— Copyright. (Received 18, 10.55 a.m.) LONDON, April 17. On behalf of die wool statistics advisory committee a review of the world wool situation at the end ot ..larcirhas been issued oy tile Empire Marketing Board. It shows that, uespite me years of low prices, production is being maintained nearly at the level of the record years 1928-29. Southern Hemisphere countries generally Have not reduced tlieir output, although Aew Zealand and Uruguay reported smaller sheep ngures, but American and Russian production has taneii lately, particularly the latter, whose decline might be estimated at .50 per cent of her peak production—nearly 4OO,(X)O,OoOlbs.—in 1928. A feature of the import trade has been Japan's buying of 180,tKXJ,U001bs. in 1932 compared with 52,060,0D0 in 1920, thus absorbing almost the whole increase in Australian production. JAPAN’S ACTIVITY. The Government in Japan (says the commercial writer in the “Sydney Morning Herald” is exerting every possible influence on the community to wear apparel made from wool in place of the cotton goods which for so many years were favoured by the people. Tubercular trouble has for many years been a disquieting problem in Japan. Tho action of the authorities in encouraging the use of woollen goods is one means being exerted to check that disease. The movement extends to the clothing of the naval and military services. The increased inquiry for wool from Japan in Australia during the last fewyears is more attributable to the reason mentioned than to the temporary causes of special preparation for war, and the very heavy purchase of raw material because it was cheap, cited by English observers of the Eastern position. Japan’s buying strength has occasionally eased slightly in Australia this season, but, on the whole, it has been one of the most consistent forces in competition since the auctions opened on August 31 last.