TRADE CONTINUALLY IMPROVING

Southland Times, Issue 23308, 18 September 1937, Page 7

TRADE CONTINUALLY IMPROVING

WOOL PRODUCTION INCREASED (British Official Wireless) (Received September 17, 5.5 p.m.) RUGBY, September 16. A report issued by the Imperial Economic Committee shows that the position of trade throughout the world is continually improving. There were increases in production in all the world exporting countries during the season 1936-37. The chief increases were in Australia where production of wool rose by 40,000,0001 b. South Africa showed an increase of 35,000,0001 b and Argentina 19,000,0001 b. Prices continued to rise despite an advance in production, but an intensified demand from all consuming countries tended to stabilize prices and prevent wide fluctuations. Stock in Australia at June 30 totalled 14,000,0001 b as against 23,000,0001 b a year earlier. In New Zealand they were 11,000,0001 b against 17,000,0001 b last year. Of these stocks the greater part was sold during July and August. There was every indication that when the South American season closes at the end of September unsold stocks, particularly of coarse wools, will be very small.