WOOL FOR JAPAN

Hawke's Bay Herald-Tribune, Issue 86, 28 April 1937, Page 15

WOOL FOR JAPAN

Purchases in Dominion Trebled in 1936 "japan, trebied lier imports of wool ifrom New Zealand in 1936, in compari86n "wlth ihe quantity ehe Secured in 193S. This fafct emphasises the extent to which New Zealand profited from ihe' trade dispute between Japan and Australia, resulting in Japan boycotting the Australian wool saies for a eonsiderable period. In addition, the increased competition from Japan gave a vaiu' able fillip to prices at the opeaing of the New Zealand Season, whbn there was A Buggestioil of uncertainty as to the future, jfcpattj la 1936, bought 23,737,0001b of New Zealand wobl, approximately 79,000 balee, 4s agalnst 7,218,0001b, or roughly 24,000 bales, in 1935. In epite of these larger NeW Zealand purchases, the total imports of Wool into Japan in 1936 was .217,007,0001b, the equivalent Of approximately 723,323 bales, 4 decrease of 26,499,000 compared with 1935. The'fololwing flgures show the wool imported by Japan durihg two years from Various sources: — ■

Commenting on these figures, the Imperial Economic Gommittee states:— "Until 1936 the wool imported by Japan was aimost exdusively Merino. Increased quantities of croasbreds were a feature of 1936. In view of the large demand for uniform clolhs and the change-over to European dress goods resulting in a decreased use of mousselines and kimono serges, it seems possible that Japan *a interest in crossbred may continue." In the later saies of the New Zealand buying season, which will close this month, Japanese competition has shown more restraint, but even so, there is little dotibt that the final iigureB for the season will show a cdnslderable increase in Japan >s purchases over those of past years. Wtih the settlement of the Australian trade dispute, her support swung back to Merxrio wool, which Japan has found necepsary to blend with the shorter African wool has bought. The limited supplies which have been available in Australia in the last few months have eaused Japan to operate vigorously and buy large quantities of the offerings, Nevertheless, owing to the reciprocal trade experienced in countries which produce crossbreda, it is considered likely that the Japanese authorities will encouragc further purchases in those (juarters.

1935 1936 lb. ib. Australia 228,433,000 154,686,000 New' Zealand 7,218,000 23,737,000 South Africa 2,566,000 • 18,620,000 •Argentina 940,000 7,509,000 Chile 1,421,000 2,197,000 United Kingdom 755,000 1,124,000 Other countries 2,173,000 9,134,000