THE WOOL OUTLOOK

Poverty Bay Herald, Volume LIX, Issue 17945, 24 November 1932, Page 10

THE WOOL OUTLOOK

JAPAN’S OPERATIONS

SYDNEY, Nov. 16.

Winchcombe, Carson, Limited, report: ‘•The tone of markets, for most commodities has of late improved somewhat, and wool has shared in the stronger demand ruling. Increased inquiry from Japan lias been experienced' for the staple in Australia. An advance in the value of Japanese currency has slightly increased the purchasing power of buyers for that quarter, that facto, no doubt, having some influence on the operations noticeable. “Japan has become an important world factor in wool prices. That activity not only has effect on competition in Australia, tint also has results on the purchasing outlook of consumers in Great Britain and elsewhere. At the start of this season considerable discussion took place in Yorkshire regarding Japan’s probable volume of buying! Some authorities expressed the opinion that as she had taken 508,421 bales from Australia in 1930-31, and 028,000 last season, she had purchased in excess of requirements. Indications do not confirm that view. Her needs have shown almost constant expansion of late years. In 1927 she only' imported 225,000 bales of wo6l. By 1930 the quantify had risen 60 per cent., and since that time has shown a further decided increase.

“ When wool prices were ‘high Japan was increasing her consumption. The lower figures of the last few years have unmicstkmably given a ‘further impetus to her use of the staple, bringing woollen goods within the purchasing scope of a larger number of her people. During recent years She lias placed a- tariff on woollen nlanufaeturos Which resulted in her producing more of her textile needs and decreasing' her iinports of goods. In 1931 she only bought 6,000,000 .square yards of woollens and wors- 1 teds in Great Britain, and 90,2001 b. of tops. During 1927 her purchases in the British Isles'were 16,(100,000 square yards of woollens and worsteds, and 3,000,C001h. of tops. The two factors, increasing use of woollen materials and decreasing imports of them, have, therefore. been working simultaneously in sending her need for the raw material upward. Tho trade can make up its blind that Japan lias permanently taken her place as one of tho world’s large wool-consuming countries,”