Fed: Wool industry to benefit from Chinese imports

AAP General News (Australia)
12-04-2000
Fed: Wool industry to benefit from Chinese imports

A surge in Chinese imports of Australian wool is giving renewed confidence to the national
wool industry.

The Woolmark Company reports strong global economic growth, overcapacity in the synthetic
fibre industry and strong interest by China are all contributing to a bright future for
Australian wool.

China, a key to the wool industry, has imported 227 million kilograms to October this
year, more than what it imported for all of 1999.

Woolmark estimates Chinese imports will be at least 40 per cent up on last year, back
to the heady production years of 1994 and 1996.

Globally, production of both wool and cotton are below consumption ensuring prices
for the two natural fibres will remain strong.

AAP RTV sw/daw/et/jn

KEYWORD: WOOL (CANBERRA)

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