WOOL INDUSTRY
RESTORATION IN JAPAN
SUPPLIES IN AUSTRALIA NEW YORK, Oct. 31. The American military authorities have laid down an. ambitious plan to restore the Japanese wool industry largely with outside financial aid, says a trade journal, the Daily News Record in a despatch from Washington. The key to the programme lies in the importation into Japan of about 665,000 bales of raw wool this year, and next to get Japanese wool plants into full operation. About one-third of this total will be turned into the export market to pay for the entire purchase. By processing about 2213 bales ol the total to be imported it is estimated that 29,000,0001 b of finished wool products will be placed in export pipe lines for the future. Japan hopes to pay the bill for the whole effort through the conversion of these pro ducts into foreign exchange. The balance of the wool will be used for domestic consumption. The Commonwealth Government was prepared to supply Japan with all the wool she could buy, said the Federal secretary of llie Associated Chambers of Commerce. Mr Wilkins, in a Canberra message.
Mr Wilkins said the volume of sales would depend on the amount of money Japan had with whicly to buy wool. Sales would probably amount to more than 100.000 bales, worth more than £3,000,000.
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Bibliographic details
Otago Daily Times, Issue 26608, 3 November 1947, Page 5
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221WOOL INDUSTRY Otago Daily Times, Issue 26608, 3 November 1947, Page 5
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