Price Reserve Plan
JOINT ACTION PROPOSED Action by the wool-growing Dominions to fix minimum reserve prices on wool in future seasons will be considered in London soon. The proposal, which was made at a meeting of the Australian Woolgrowers’ Council, will be one of the most important matters discussed when growers’ representatives from Australia, New Zealand and; South Africa meet in London about the middle of £he year. The meeting decided to submit the proposal to affiliated associations for consideration.
The proposal has been inspired by the low prices for all types of wool this season, and is one of many made in an endeavour to prevent sacrificial losses to growers. No similar action has ever been taken by Dominion acting in conjunction, but, in 3932, Australian growers placed a reserve price on their wool. The reserve was about-Sd per lb. The plan was controlled by a system of export licences, but only certain types of crossbred wool fell in the market a§ low as Sd per lb., and after about six months the plan was abandoned.
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Bibliographic details
Manawatu Times, Volume 63, Issue 48, 26 February 1938, Page 9
Word Count
177Price Reserve Plan Manawatu Times, Volume 63, Issue 48, 26 February 1938, Page 9
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