Related Keywords: about Au$3 billion, all wool imported, approx. $2.28 billion, Australia, Australian wool prices, China accounts for over 70 percent of the value, China utilizes 60 percent, Chinese companies use Australian wool, consumed by Chinese, manufacturing a range of products, record high this season, touched wool exports, world’s largest wool producer
Australia, the world’s largest wool producer has touched wool exports at about Au$3 billion (approx. $2.28 billion) of which China accounts for over 70 percent of this value. China utilizes about 60 percent of all wool imported for making products that are consumed by the Chinese, compared to almost full re-export of wool around 15-20 years ago. Chinese companies use Australian wool for manufacturing a range of products including apparel, sportswear and shoes. Strong demand from growing affluent Chinese consumers has pushed up Australian wool prices to a record high this season.
