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Australian wool prices rise as Italian buyers return
12 Oct '12
1 min read
The prices of wool increased steadily this week in Australia as Italian buyers returned to the market.
European buyers purchased over 40 percent of the wool on offer at this week’s Newcastle sales.
In recent months, buyers from Europe had dwindled owing to the economic downturn in European economy. But, currently European buyers have very little stock left with them, which is a reason for their return to the market.
This week wool prices increased by between Au$ 0.5 and Au$ 2 per kilo over last week’s prices. However, the prices are still far less compared to those prevailing during this time last year.
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