EU debt crisis affects Australian fine wool prices

European debt crisis has negatively impacted the prices of fine wool, especially in West Australia.

 

European debt crisis has negatively impacted the prices of fine wool, especially in ...#

Usually, European nations buy Australian fine wool for preparing high-end fashion items. However, the ongoing debt crisis in Europe has led to a situation where fine wool costs have declined to almost same price level as the ordinary wool.

 

European debt crisis has negatively impacted the prices of fine wool, especially in ...#

Last year, a kg of fine wool fetched around Au$ 6 more than ordinary wool, but this time the price gap has narrowed down to just 80 cents, the lowest since 2003, according to West Australian sheep farmers.

 

European debt crisis has negatively impacted the prices of fine wool, especially in ...#

Experts say international buyers and retailers are cautious while purchasing wool items owing to the volatile global economy.

 

European debt crisis has negatively impacted the prices of fine wool, especially in ...#

Moreover, Europe is confronted with several adversities, which has led to a fall in retail sales there and this is impacting demand and prices of Australian wool, particularly fine wool, as Northern European region consumes most of the Australian fine wool.

 

European debt crisis has negatively impacted the prices of fine wool, especially in ...#