INCREASED IMPORTS

Otago Daily Times, Issue 27383, 8 May 1950, Page 5

INCREASED IMPORTS

Essential Wool Supplies AMERICA’S IMMEDIATE OUTLOOK Rec 7 p.m. WASHINGTON, May 6. The United States must look abroad for the larger portion of her essential wool supplies during the years immediately ahead, the Agriculture Department reported today. Domestic production was failing to keep pace with increasing demands and it was likely that the woollen mills would have to import between 400,000,0001 b and 500,000,0001 b of apparel wool this year, said the department. By comparison United States production was expected to supply only about 300,000,0001 b. Less than 40 per cent, of the nation’s requirements was being supplied by domestic .output compared with 88 per cent, before the war. The big import demand of the United States was helping to deplete overseas supplies accumulated during the war when international trade was greatly restricted; The department said that world mill consumption of wool over the next few years may be expected to decline and bring consumption more into line with current output. The strong world demand for apparel wool in recent years had brought a sharp advance in prices. This rise had caused prices of domestic wools to strengthen.