TRADE WITH GERMANY

Waikato Times, Volume 123, Issue 20691, 29 December 1938, Page 12

TRADE WITH GERMANY

S. AFRICAN AGREEMENT ARGENTINE ALSO INVOLVED It is reported that the South African Government has entered into the fifth trade agreement with Germany, which provides that the latter shall purchase primary products to the value of £6.2f>5.000 during the year ending August 31, 1939. Among these. Germany is to take £3,700,000 worth of wool, £135.000 of hides and skins, £125.000 of maize and £-4 50 of ganeseThe agreement of last year stipulated that Germany should take goods, chiefly wool, to the value of £4,630,000. the Union accepting payment in manufactured German goods. Under an agreement similar in many respects to that concluded with South Africa, Germany is taking large quantities of wool from South American States, the quality being apparently found satisfactory for blending with woolstra and similar staple fibres. During the nine months ended June 30, 193*. Germany purchased 70.307 bales (of 9001 b weight) from Argentina, and 25,439 bales from Uruguay, the figures for the same period 1930-7 being respectively 15.942 and 16,101. As the exports of wool from both Argentina and Uruguay showed a considerable drop during the the latest period, it is obvious that purchases by other manufacturing countries from South America—notably the United States, Japan, Italy. Belgium and Great Britain—have declined considerably. This may have an influence in improving the demand from Great Britain and the United States for New Zealand’s crossbred wool during the present sales season.