WOOL FOR JAPAN

Gisborne Herald, Volume LXVI, Issue 20083, 1 November 1939, Page 12

WOOL FOR JAPAN

300,000 BALES NEEDED AUSTRALIAN INQUIRIES MELBOURNE, Oct. IC. The Consul-General for Japan. Mr. M. Akiyama, told the Minister for Commerce, Senator McLeay, at a conference to-day, that Japan wanted to buy 300,000 bales of wool from Australia this year, and some millions of bushels of wheat. Japan’s purchase of wool from Australia last year amounted to about 242,000 bales. Although Great Britain has acquired the whole of the Australian wool clip, provision exists in the contract for sale to neutral countries after the requirements of Britain and her allies have been satisfied. The price at which sales will be made to neutrals is not fixed Australia merely acts as the agent for Britain, and any addition that is obtained above the fixed price will be ■hared on a 53-50 basis with the ;rower. Wheat purchases which Japan vishei to make, it. is believed amount ’■o 7.000,000 or 8,000,000 bushels. This will have a substantial effect on nr*

rangements for marketing the new season’s crop. Price Fair to Britain

Commenting to-day on the price which has been fixed for wool, the Prime Minister, Mr. R. G. Menzies, said that i. was moderate and fair to Ihe British Government, but at the same time it would allow the wool in- ) dustry in Australia to be adequately carried on.

The price was in conformity with the general principle adopted by the ■Australian Government, that Australia was not seeking to make undue profits at the expense of Great Britain’s necessity.

Mr. Menzies added that he agreed with the chairman of the Australian Woolgrowers’ Council, Mr. J, P. Ab- " bolt, that in a long-term sale of the kind that had been made it wps important that everything in reason should be done to prevent an unnecessary rise in cost.

Representatives of the Flour Millers’ 3 Association, in a discussion of the wheat situation with Senator McLeay to-day. asked that a. millers’ repre- ’ icntr.llvc should be included on the “ Australian Wheat Board. Ai the .lenient, merchants, pools, and farmi era are represented. Se-'aPu’ McLeay promised to conduct’ Die request, but the unofficial opinion is that it will not be granted.