BUYING OF WOOL

Poverty Bay Herald, Volume LXVI, Issue 19883, 9 March 1939, Page 8

BUYING OF WOOL

absence; OF JAPAN

NUN Gil A MEM IN AUSTRALIA ACTIVITY THIS ME A SUN In marked contrast with the 1936-37 season, Japanese purchasing at the wool sales in New Zealand in the past two seasons has been limited. Buying by Japan has been almost confined to Australia. Very little, it any, was taken from South America, while up to the end of last year no wool was shipped from South Africa to Japan. In the present season exports of wool up to the end of January from Australia to Japan totalled 140,920 bales, an increase of 70.493 bales on last season's quantity -for the same period, stales a report from Winchcombe, Carson, Limited, woolbrokers, Sydney. The chief part of Japanese purchases in 1937-38 were affected from January to June, the total for the full 12 months be Mg 237,553 bales. This season it has been mainly centred on spinners and the freer good length top-making fleece, and bulky killings more or less free from vegetable fault.

As far as the provision for the distribution of her purchasing as much as possible over the season, Japan has apparently done her best to adhere to the terms of the trading agreement. Fully two-thirds of the wool which will be available in Australia this

season, however, has already been sold. Purchasing will need to be considerably accelerated if her year’s quota is to be accomplished of 350.000 to 400,000 bales, plus facilities for her importation of a further 100,000 bales short-taken in the previous agreement.

At the close of October, the latest date for which figures are available, the stocks of wool in Japan were 30,800,0001 b., a decrease of 40,100,0001 b, on the 1937 total. But her requirements have been curtailed by the use of staple fibre and the limitation of activity at the mills.