NEW ZEALAND MAY BENEFIT

Otago Daily Times, Issue 22911, 19 June 1936, Page 10

NEW ZEALAND MAY BENEFIT

WINTER SHOW AND RACING CARNIVAL

JAPANESE PURCHASES OF WOOL 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 by Mr Tatsuo Imai, a Japanese business man, whose firm, the Summers Trading Company, Ltd., 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 one-quarter only of the wool she usually secures from that country. The balance of 75 pur cent, will be purchased from Africa, New Zealand and South America. From Africa would be secured fine merino wool. The Japanese wool trade has. however, a preference for Australian wool, because Japanese manufacturers have largely developed their products in relation to the quality of Australian wool they have been securing for years. It is considered that New Zealand fine halfbred or crossbred wools can take the place of some of the coarser merino wool hitherto supplied by Australia. Such New Zealand grades are suitable for the manufacture of worsteds. Moreover, Japanese manufacturers are already finding such New Zealand

wool excellent for mixing with cottoi in the manufacture of blankets for Man ehukno, where the climate is rigorous. The New Zealand grades are aim being used in the manufacture of arm} and navy uniforms, and their use n capable of considerable development. In deed, there was already the prospect independent of the settlement of tin Australian trouble, of increased pur chases of New Zealand wool. “ We are very hopeful, however, that the Australian and Japanese Govern menta will be able to resolve their diifi eultiea,” added Mr Imai. “In the mean lime, as you are possibly aware, out wool trade is adopting a firm attitude as was shown by Japanese wool buyen absenting themselves from the last Mel bourne wool sale.”