WOOL PURCHASES

New Zealand Herald, Volume LXXIII, Issue 22444, 13 June 1936, Page 16

WOOL PURCHASES

JAPANESE PLANS

NEW ZEALAND MARKET TROUBLE WITH AUSTRALIA The opinion that if negotiations between Australia and Japan on the question of limitation of imports are not satisfactorily settled New Zealand will benefit by considerably increased Japanese purchases of .wool was expressed yesterday by Mr. Tatsuo Imni, a .Japanese business man, whoso firm, the Summers Trading Company, Limited, is a manufacturer of woollen goods. Mr. Imai has been in Australia for some months familiarising himself with business conditions there, and he is now investigating the situation in the Dominion, While in Australia he was in constant touch with Japanese wool buyers and is familiar with their point of view and the instructions they have received from their principals. In Auckland, Mr. Imai has been inspecting wool still held in stores. Unless an arrangement is come to with Australia on the question of imports, Mr. Imai said, Japan proposes to buy from Australia ono quarter only of tho wool she usually secures from that country. The balance of 75 per cent will bo purchased from Africa, New Zealand and South America. 1 rom Africa would be secured lino Merino wool. Tho Japanese wool trade has, however, a preference for Australian wool because Japanese manufacturers have largely developed their products in'relation to tho quality of Australian wool they have been securing for years. It is considered that New Zealand fine half-bred or cross-bred wools can take tho place of somo of the coarser Merino wool hitherto supplied by Australia. Such New Zealand grades are .suitable for the manufacturer of worsteds. Moreover, Japanese manufacturers are already finding such New Zealand wool excellent for mixing with cotton in the manufacture of blankets for Manchukuo, where the climate la rigorous. The New Zealand grades are also being used in tho manufacture of army and navy uniforms, and their use is capable ot considerable development. Indeed, there was already the prospect, independent of the settlement of the Australian trouble, of increased purchases of New Zealand wool.

"We aro very hopeful, however, that tnc Australian and Japanese Governments: will ho able to resolve their difficulties," added Mr. lmai. " In the meantime, as you are possibly aware, our wool trade is adopting a firm attitude, as was shown by Japanese wool buyers absenting themselves from the last Melbourne wool sale."