WOOL STOCKS.

Taranaki Daily News, 12 April 1922, Page 5

WOOL STOCKS.

AN ENCOURAGING REPORT. SUBSTANTIALLY HIGHER PRICES PREDICTED. By Telegraph..—Press Association. Wellington, Last Night. The Hon. W. Nosworthy (Minister for Agriculture), stated to-day that he had received a report from the New Zealand Wool Committee. It haxi received a cable from the managing director of the British Australian Wool Realisation Association, Ltd. advising that the surplus stocks of wool in South America have been almost totally bought up, and that Argentine and Uruguay are even barer of wool than New Zealand. During the past six mont’ sales of New Zealand, Argentine. and Uruguay wools have equalled a full year’s clip. The actual consumption has not been so large, but the dealers are eager to lay in cheap stocks, because they begin to realise that the annual production of crossbred wool is now substantially less than the actual requirements, and that as B.A.W.R.A. stocks disappear, a period of definite scarcity approaches. B.A.W.R.A. predicts that the prices of New Zealand wools in twelve to eighteen months hence will be very substantially higher than at the present rates. The New Zealand Wool Committee estimates that at the end. of May, approximately only 45,000 bales of the 1920-1021 and the 1921-1922 clips •will remain unsold in New Zealand, and at the present rate of shipment all, the Imperial stocks of wool will have been shipped from New Zealand by the end of September.