EXPORT OF WOOL

New Zealand Herald, Volume LIII, Issue 16123, 11 January 1916, Page 6

EXPORT OF WOOL

Though competition was confined to British and New Zealand buyers prices at the wool sale held in Christchurch yesterday showed a decided upward tendency. This indicates that the prohibition on the export of wool except to the United Kingdom was not made before the need was evident. At the* last Auckland sales American buyers were prominent. Some surprise was expressed that they were then, allowed to operate, for while soldiers have to be clothed New Zealand can only afford to deal with America to the extent of any surplus' available after all British demands and the military needs of the Allied armies have been fully met. This is the first duty of New Zealand, as of other parts of the Empire. Even if higher prices could be obtained by an open market this would be a poor compensation to the New Zealand producers if the result of their foreign sales was to ! starve the Bradford market and ' limit the output of British mills. ' With the growth of her armies Bri- 1 lain's need for wool is increasing, and is likely to increase till the close ' of the war. This gives New Zealand producers,an insatiable market and they can be assured that while the Allied armies have to keep the field : the prices obtainable will be much ; more than remunerative even if! there is no resumption of general export. It should not be assumed, however, that this course will be followed. The embargo has been' lifted before, and it will doubtless j be lifted again when there is an available surplus, and when that I surplus can be sold to neutrals | without danger of it reaching enemy ' countries. 1