Lifting Of Ban On Wool Exports

Chronicle (Levin), 18 May 1948, Page 5

Lifting Of Ban On Wool Exports

Received Mondav, 7 p.m. LONDON, Alav 16. Tt was officially announced that ' a now statutorv order will be issued m the noar future reruoving most of the remaining rcstrietions on wool exports from Britain, states the International Wool Seerotariat speeial news service. The new order will allow the expon Without licenee of homo-seoured wool and greasy matchings from Dominions wool and unproeessed combers and tvastes, while British-grown wools will also be exportable without licenee or restriction on quantitv. Licensed expon of some carbonised wools wij] be allowed up to an undisclosed quantitv in the next six months. Coupled with the increased freodom of top exports to operate next month, these decisions will virtuallv release from restriction all exports of wool and tops from Britain. The export freodom will not extend to wools imborted from Argentina, Belgium, Franec, as these are imported only in limited quantities under lieence for spocifie British requirements. Anlmated Market. The Bradford top market was animated this week, with merino quotations at the highest level for many Vears, following reports that America, Russia, and certain ex-enemv countries a)-e operating strougly in the Bominion wool markets. Superior merino top pi'ices in Bradford market Wow approach 10s a pound and are the highest sinee the boom which followed the 1914-18 war, and eurrent quotations would ' be even liigher if

based strictly on replacement costs. Bradford is not enthusiastic about the curernt prices, as there is resistance from the consumer end, but woolimproving firms realise that eurrent Dominion .slipes^^jire reaching an anvanced stage of liquidation and it is necessarv for most firms to buy wool to bridge tlie interval between the elose of the eurrent Dominion wool marketing season and the opening of next season. Aleanwhile France and other Continental eountries are huying spot woo) in Britain as well as in the Dominion markets, and are competing strongly in overseas markets with their exports of semi-manufaetured goods, the devalued Freneh frane being helpful in this connection. Britain's wool eonsumption maintains the highest levels sinee the war and is expeeted to show a further improvement under the pro. spective better export facilities. Current top quotations are approxi-mate-lyr — 70's super. 115d; 70 's average, 109d to 110d; 64 's (A) 109d, 64 '3 (B) 104d; 60 's, super, 90d; 60 's average, 58d; 58 's, super, 70d; 58 's average, 67d to 68d; 56's, 58d; 50's, 37d; 48 's, 36d: 46 's. 35d.