December 21, 2007
December 21, 2007 - The China National Textile and Apparel Council said that the flying international wool price was pulling back the development of the Chinese wool textile industry.
The import prices of wool averaged US$5,622 per ton in the January-to-October period of 2007, rising 25.45 percent from a year earlier. Price of wools imported from Australia reached US$7,146 a ton in the same 10 month period, 35.67 percent higher than a year ago, according to China Customs.
The domestic prices have kept in pace with the international ones.
As major raw material for wool textile products, wool accounts for around 65 percent of the production cost of the Chinese wool textile industry. The industry consumes about 300,000 tons to 350,000 tons of wool every year, two thirds of which are imported, making China the biggest wool importer in the world. Reprinted from YarnsandFibers, India