China is New Zealand’s biggest wool market

Wellington, March 23: China has become the main market for New Zealand wool, taking almost half its exports, as the European market declines and sales to Australia plunge, an official said.

Wool Exporters Council president John Dawson said the problems in the Euro zone and the increasing strength of China as the world ‘s major textiles producer had seen a marked swing in where New Zealand wool sold, reported Xinhua.

“Compared to last season, our European customers are taking much less wool, with exports down 14.5 percent,” Dawson said in a statement Friday.

“But China continues to grow and so far this season has taken 15.4 percent more than at the same time last year. Wool exported to Australia is down a whopping 75 percent,” he said.

IANS