EXPORTS OF WOOL

New Zealand Herald, Volume LXXIII, Issue 22388, 7 April 1936, Page 7

EXPORTS OF WOOL

£3,750,000 FOR TWO MONTHS ALMOST DOUBLE LAST YEAR EFFECT ON TRADE FIGURES An illustration of the effect on New Zealand's trade figures of higher wool prices and larger overseas purchases is provided in returns for the first two months of this year. During January and February, 276,398 bales of wool, valued at £3,763,847, were exported, compared with 185,470 bales, valued at £1,929,509, shipped in the same period last year? Wool exports exceeded in value those of any other commodity, butter included.

Trade figures for individual countries also reflect the unproved position. A favourable trade balance with France of £79,074 during the first two months of 1935 has this year become a favourable balance of £539,490. An adverse balance with Japan of £25,678 has been converted into a favourable balance of £348,067. On the other hand, exports to Germany have not increased and an unfavourable balance of £56,093 compares with an adverse balance of £27,007 for the same period last year. Total exports to the United States havo increased from £305,785 to £481,796 in January-February, 1936. The loss of butter trade with the United States has apparently been more than offset by large wool shipments. However, the adverse trade balance is only about £II,OOO lower at £377,883, due to increased importing from America.

RESTRICTED OFFERINGS SPREADING OF SALES . A decision to obtain support for a proposal that wool sales should be spread over a period of some months during the season, and that offerings should be restricted, was made at a meeting of the committee of the Timaru Agricultural and Pastoral Association last week. It was agreed to ask the Royal Agricultural Association to treat the matter as urgent, and to bring it before the Wool brokers' Association at its forthcoming annual meeting. It was also decided to seek the co-operation of other bodies interested in the matter.