Although China continues to be a major importer of wool from Australia, India has the potential to become the next wool export destination for Australia, according to an expert.
John Colley, Managing Director of Australian Wool Network (AWN) said China still remains to be a major wool consuming and processing destination and imports around 71 percent of Australian wool in one form or another, including tops and greasy wool.
He suggested that Australia should also try to explore new export markets for its wool.
In this context, he said, India has a potential to emerge as a major market player. At a point in time, Indian wool industry housed many local players, but now there are only a few committed players, who are trying to increase the demand for wool, he added.
Mr. Colley said Western Australia (WA) is well positioned to cater to this demand, as it can export wool to India at much less cost than from Eastern states.
Fibre2fashion News Desk - India