Related Keywords: Growth in wool demand predicted, increase domestic consumption, largest producer and exporter, luxury woollen textiles, major international markets, more strong in China, pushing wool demand in China, woollen clothing and textiles
Increase domestic consumption of luxury woollen textiles is one of the factor to push growth in wool demand in major international markets and China, the world's largest producer and exporter of woollen clothing and textiles. In China, the growth in wool demand is predicted to be more strongly.
Senior ABARES economist Dr Caroline Gunning-Trant in her analysis presented at ABARES Outlook 2017 said that the continuing growth in wool demand has led to increase in price of wool in Australian dollars since 2014.
