Wool Sales to Italy Slump as China Dominates the Market
June 11, 2010
A wool export report shows that China is currently taking three-quarters of Australia's wool clip. Bill Cowley, Australian Wool Network, said the report from the Australian Wool Exchange showed that Taiwan and India have also increased their intake of fleeces.
Cowley said the sad story is the decreasing volumes of wool heading to European mills.
"Italy was down dramatically, down nearly 50 percent on what they took this time last year, so that's always a concern," he said. "The Italian wool industry is really struggling under the costs of production and the European financial crisis." Reprinted from ABC Rural, Australia
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