WORLD WOOL STATISTICS.

Otago Witness, Issue 3830, 9 August 1927, Page 12

WORLD WOOL STATISTICS.

During the past two years several proposals have been put forward with the- object of securing a better system of international wool statistics, and a movement is now on foot that has for its goal the culmination of this very necessary work. The movement was

inspired by a recommendation of the s economic sub-committee of the recent 1 Imperial Conference, and America has I expressed its practical sympathy. The 1 collection of sufficient data to enable ' an accurate estimate of the world wool supplies will be a work of no small magnitude, and will require good organisation. Assuming that it can be done, it is claimed that very substantial advantages will accrue. Authentic information will, it is held, make panics less likely, it will be a safeguard against violent irregularities in the wool market, and clearer ideas of wool prospects will be obtained. The general idea must be commended, as it will give a wider dissemination of increased knowledge. At the same time, it must not be imagined that the publication of worldwide statistics will be of material benefit to growers, so far as increased prices for clips are concerned. Wool consumption depends not only on the output of raw material, but on the trend of fashions. The quantity produced cannot vary from year to year to such an extent that supplies will accumulate or prove insufficient for requirements in- the ordinary course of trade. Manufacturers in diferent countries require special qualities of wool, and much will depend on whether the statistics procured merely deal with wool as a whole or whether they discriminate between different types. Another obstacle likely to present itself is the doubtful authenticity of the figures presented. So far as Australian’ statistics are concerned (says “ Paushangar ” in the Australasian), they are not always reliable, and misleading statements are calculated to do more harm than good. Buyers must now be able to form a fairly shrewd estimate of the quantities of wools in which they are more closely interested, because the source of supply is necessarily limited. The fact that there are a few pounds more or less from which to select should hardly affect the position. While, therefore, the collection and publication of statistics may make interesting reading, and may possibly be helpful to some manufacturers, the necessity from the grower's standpoint must not be magnified. If, indeed, the cost of collecting the requisite data is to be a further burden for the growers to carry, there is doubt whether the scheme is worthy of commendation. Perhaps there are some who imagine that world \tool statistics may make possible some method of fixation of prices, but if this is the object it may as well be forgotten. We have had some experience in the past of the hopelessness of attempting to forecast market values, and in the main it will be found ’ that unrestricted trade is better for all concerned.