MORE DEFINED POLICY

Taranaki Daily News, 15 October 1934, Page 5

MORE DEFINED POLICY

"OFFERING OF AUSTRALIAN WOOL. DESIRES OF BUYERS IN BRITAIN. By Telegraph—Press Assn.—Copyright London, October 11. The curtailment of the wool offerings in Australia is creating considerable difficulty in Britain, says the Yorkshire Post. Certain trade interests are urging the desirability of a more clearly defined policy by Australia if traders are to be able to formulate a definite buying policy. “No one wishes to see the primary markets overloaded with offerings, which might lead to a collapse of values,” states the newspaper. “It is not justified even under the present conditions, and to that extent Australia’s declared policy of offering sufficient to meet the current demand and adjusting quantities as occasion might require meets with a good measure of approval in principle. “There is a feeling in Britain, however, that when sales are announced they should be held. Even if Australia were to limit the offerings to 5000 bales per day, buyers would at least know where they stood as long as the quantity was put forward without fail, but under the present system of chopping and changing they do not know where they stand.”