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Friday, 13 November 1964

Senator ANDERSON - The Minister for Primary Industry has furnished the following answers -

1.   Yes.

2.   The principal reason for the fall in the value of exports of wool to the United Kingdom during the September quarter of 1964 was a decrease in the quantity shipped. However, a further contributing factor was a slight decline in wool prices. In the quarter ended September 1964, the quantity of wool shipped was 35.3 million lb., greasy equivalent, compared to 50.2 million lb. in the corresponding quarter of 1963, which represents a decline of 29.6 per cent. During the same quarters, the average price of greasy wool sold at auction was 61.36d. per lb. and 62.78d. per lb. respectively, a fall of 2.26 per cent.

3.   It is not unusual for the quantity of wool purchased by a wool consuming country to vary from quarter to quarter. For example, over the past four years the quantities of wool shipped to the United Kingdom during the September quarter were as follows: 1961, 35.2 million lb.; 1962, 45.6 million lb.; 1963, 50.2 million lb.; and 1964, 35.3 million lb. These variations were due to short term changes in demand by the British wool textile industry. Such changes in demand are governed by such things as the volume of orders for wool textiles from the United Kingdom home and overseas markets, levels of stocks of raw and semi-processed wools, seasonal conditions, access to export markets and other factors. To maintain and expand the demand for wool in the United Kingdom and other countries, Australian wool growers contribute annually about £6 million, which is supplemented by a contribution by the Commonwealth Government of about £4.25 million per annum, to the International Wool Secretariat This money is being expended by the Secretariat in a wool promotion campaign of unprecedented magnitude.

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