asked the Minister for Agriculture and Fisheries if he is aware of the reduced price being paid to farmers in County Galway for wool purchased; and if he will make a statement on the matter.
Ceisteanna—Questions. Oral Answers. - Wool Prices.
41.
Reports received by my Department indicated that during the main wool buying season in July and August this year, the prices paid for Galway wool were better than last year, although some decline took place towards the end of the season in September. Credit conditions and reduced stocking of supplies in Britain appear to have at least partly contributed to this decline.
The price for wool is determined by the effective world demand and by competition from synthetic fibres and is therefore subject to fluctuation.
I may add that I am arranging for the introduction of legislation with a view to improved marketing conditions generally for wool.