Wool Board stockpile dwindling
PA Wellington The Wool Board’s huge stockpile is dwindling as the end of the season approaches. The board estimates that when the season finishes at the end of this month, the stockpile will have fallen more than 30 per cent. Stocks are likely to be about 290,000 bales, down from 422,000 bales at the beginning of the season. A board spokesman said that at that time the stockpile was worth $147.7 million. By the end of May stocks had fallen to 315,000 bales, and the board had made a profit from its sales of $2.3 million. Sales in the last two months have been especially
brisk, as current season wool supplies fall away and the board offers more to fill, the auction catalogues. “In May the board sold 37,000 bales, or more than 1000 bales a day,” the board said. The main buyers of board stocks have been Eastern Europe Iran, and China, with some sales to Western Europe and New Zealand mills. The board has been selling a broad range of wool types, but makes sure that in general its offering does not compete with that offered by woolgrowers. The board sold about 10,000 bales in an exceptionally large individual offering at the last wool Sale in Wellington.
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Press, 25 June 1983, Page 19
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213Wool Board stockpile dwindling Press, 25 June 1983, Page 19
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