PM Transcripts

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ELECTORATE RELEASE 12 JULY 1979
1979/ 80 WOOL FLOOR PRICE
The Prime Minister and Member for Wannon, Malcolm Fraser,
has welcomed the increase of 7 percent in the 1979/ 80
wool floor price. " It will certainly give producers added
confidence in the wool market for the next season", he said.
Mr Fraser said the floor price of 318 cents/ kg clean in
terms of the market indicator in the 1979/ 80 season is the
level recommended strongly to the Government by the
Australian Wool Corporation and the Australian Wool Industry
Conference. " Woolgrower representatives recently discussed prospects for
1979/ 80 with overseas textile manufacturers and reported
that demand for Australian wool was expected to be strong, with
the wool market well able to support the increase recommended
by the industry", he said.
He pointed out that developing Asian countries are expanding
wool textile exports and are an increasingly important
market for the Australian wool industry in addition to
traditional markets in USSR, Europe and Japan.
" Wool producers can now plan ahead for 1979/ 80 with
a good deal of confidence.
" Seasonal conditions are, generally good, the floor price
has been significantly increased and the Wool Corporation
is in a very sound financial position, with a low stockpile
and strong financial reserves.
" Also, the market for lamb, mutton and live sheep is strong,
enabling sheep producers to continue the national trend
of expanding flocks in the knowledge that there is a good
market for both wool and sheep meats".
Mr. Fraser said the Government's commitment that the floor
price scheme will be continued in 1980/ 81 at not less than
318 cents will assist long-term industry planning. " It is
a further recognition of the fundamentally sound outlook
for the industry", he said. 000---