May 14, 2010
China continues to be the largest buyer of Australian wool. Latest figures from the Australian Wool Exchange show three-quarters of the country's wool is exported to China. It also buys 90 percent of the sheepskins.
Bill Cowley, from the Australian Wool Network, said there's a reason why so much Australian wool is shipped to China.
"It has always been a very strong buyer of wool," he said. "But, what we're finding is that as business in Europe gets harder to do because of the economic situation there, a lot of the countries which had previously done their wool processing in Europe now have their mills in China."
The figures show exports of Australian wool to Taiwan have jumped 568 percent and sales to Malaysia are up 253 percent.
Reprinted in part from ABC Rural Australia