RESTRICTIONS REMOVED

Otago Daily Times, Issue 26774, 18 May 1948, Page 5

RESTRICTIONS REMOVED

BRITAIN’S WOOL EXPORTS NEW STATUTORY ORDER N.Z.P.A. Special Correspondent LONDON, May 16. It was officially announced yesterday that a new statutory order will be issued in the near future removing most of the remaining restrictions on wool exports from Britain, states the International Wool Secretariat Special News Service. The new order will allow the export without licence of home-scoured wool and greasy matchings from the dominions wool and unprocessed combers’ wastes, while British-grown wools will also be exportable without licence or restriction on quantity. The licensed export of home-carbonised wools will be allowed up to an undisclosed quantity in the next six months. Coupled with the increased freedom of top exports to operate next month, these decisions will virtually release from restriction all exports of wool and tops from Britain. Export freedom will not extend to wools imported from the Argentine, Belgium, France, etc., as these are imported only in limited quantities under licence for specific British requirements. Bradford is not enthusiastic about current prices, as there is resistance from the consumer end. but wool-importing; firms realise that current dominion clips arc reaching an advanced stage of liquidation and that it is necessary for most firms to buy wool to bridge the interval between the close of the current dominion wool-marketing season and the opening of the next season. Meanwhile, France and other Continental countries are buying spot wool in Britain as well as in the dominion markets, and are competing strongly in overseas markets with their exports of semi-manufactured goods. The revalued French franc is being helpful in this connection.