Australian Superfine Wool Growers Association (ASWGA) has inked a memorandum of understanding (MOU) with the Chinese conglomerate Shandong Ruyi Group to nurture a relationship to ensure sustainable future for Australian growers in terms of prices and for the Chinese firm in terms of wool supply.
The Shandong Province based company would procure 14.5-micron and finer wool from Australian producers, who are expected to uphold the former's holistic approach of doing business.
ASWGA President Helen Cathles, who recently returned from a visit to China, said the Chinese firm would use the wool to prepare attractive women's suits.
She added that the Shandong Ruyi Group's endeavour is really exciting as it would once again introduce ultrafine wool in women's apparels.
This would, in turn, lead to an imminent rise in consumption, which is expected to boost the demand for ultrafine wool to almost three-fold.
Cathles said ASWGA would be able to easily cater to the new demand for the next one year from the existing stock of 120 tons of fine wool, already produced by the Australian growers during the past year.
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