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Import of wool rises in value & volume
Mar '08
Data supplied by Ningbo Port show, that in January, 2008, the import quantity of wool was 1,876 tons valuing at US $14.07 million.

It marked an increase of 28.5 and 58.3 percent in quantity and value respectively. Besides, the average import price of wool per ton stood at $7,499, up by 23.3 percent. Of the total wool imported by China, 98.4 percent came from Australia and New Zealand.

Major reasons behind increased imports in China can be explained from the fact that the processing trade import value was around $8.444 million, down by 1.1 percent compared to last January.

Most importantly, increased imports were made by foreign investment enterprises and the private firms, the latter making import valued at $5.391 million. However, no such orders were placed in the preceding year.

Experts believe that a huge amount of unqualified wool like white goat hair, skin shearing, and skirtings are inflowing into domestic wool market and if the Government does not standardize wool imports, development of Chinese wool industry can be at stake.

Fibre2fashion News Desk - China

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