Sign in | Join free

China took 73% of australia's wool last year

China took 73% of australia's wool last year Source: english.ctei.gov.cn
Date: 17-04-2012
Visits: 227
Very Poor

RECORD low wool supplies worldwide have given Australia's farmers the best chance to ride on the sheep's back again after decades in the doldrums.

New research shows that Chinese manufacturers took 73 per cent of Australia's wool last financial year as prices strengthened.

Rabobank analyst Airlie Hoskins said the issue for Australian farmers was to rebuild their flocks and reap the benefits of record prices after years of drought and poor demand saw them run down sheep numbers in favour of cropping.

Global and Australian production is just over half of the levels in 1989-90.

But wool is now more price competitive with cotton and polyester.

The Chinese have also emerged as major players in fashion and textile markets, taking $2.2 billion of wool last financial year, as demand from the eurozone drooped due to their economic woes.


Last winter wool prices shot up to $14.36 per kilogram on the Australian Wool Exchange , 60 per cent up on the year before and well above the 2005-10 average of $8.32c per kilo.

It is sitting around $12 per kilo this year.

Australia exported 345,000 tonnes last year - more than was shorn by running down its stockpiles - but that is unlikely to be repeated in 2011-12.

But Ms Hoskins is forecasting a bright future as favourable weather will give farmers the opportunity to build sheep numbers beyond the 77 million head this season, a near historic low, to capitalise on the higher prices.

like 216 Unlike 24
Users Comments
No comments to display
Are you sure you want to delete this comment.
Add your comment
User Name:
Email: Will not be published
Rate This article:
Comment:
Maximum 3500 characters
Your name
Your email address
Your friend email address
  • /images/ourservices/125-600/pricetrend.jpg
  • /images/ourservices/125-600/product.jpg
  • /images/ourservices/125-600/videos.jpg
Suntex Asia Limited
32341 Users
have already joined suntexasia.com. Shouldn't you?
Full registration will provide you access to all our free services. It takes only one minute and it is free Go here
Quick registration (it's free)
Accesss to some of our free services
Select membership
Full Name
User Name
Email
Password
Enter the code
sfxrr
(Note: If you can't read the letters, reload the page to generate a new one.)
terms and conditions
 
Members Login
Already registered
Email
Password
Forgot your password
golden fees
Enter your e-mail address
Choose your room