The Chinese Ministry of Commerce has kept next year’s import quota of wool and wool tops unchanged from 2014, allowing a maximum of 287,000 tonnes of wool to be imported in 2015. Meanwhile, the import quota for wool tops [i.e. semi-processed wool that is ready for spinning] was set at 80,000 tonnes, according to a statement by the MOC on its website. China has refused to increase the import quota of wool and wool tops since 2006 even after it became the world’s largest wool processor and consumer in recent years…Full Article: The Global Times Oct 2014
- China annually imports approximately 75% of its wool demand.
- In August 2014, Olam International announces it was shuttering their wool export division in Australia (Queensland Cotton) owing to poor profit margins and diminishing demand from China.
- In March 2014, a senior Australian wool trader stated that China has been purchasing wool in good quantities for the past 3-4 years, but orders have slowed recently and has become “sluggish”.
- In 2013, mainland China imported US$1.8 billion worth of Australian wool (not card/combed) and US$1.6 billion worth of cotton (not carded/combed).