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ARTICLES >> Livestock Articles

Wool Markets and Emerging Opportunities

Posted by Bestprac on Jun 06 2013

By Pene Keynes

At Hawker, presenters and producers alike were positive about the direction and future of the wool industry. It was interesting to learn about what Australian Wool Innovation (AWI) and producers can do to help maintain and grow this industry.

Allan Wang from AWI and Producer Geoff PowerAllan Wang, a Market Analyst from Australian Wool Innovation (AWI), told participants how they are overcoming challenges, such as change in economic purchasing power, global consumers, demographics, income and environmental concerns, and turning these into opportunities.

One market driver is the increase in the ‘ageing affluent middle class’, who value quality luxury products made from wool, in favour of cheaper fibre options such as poly-cotton.

AWI are helping to develop new markets in sports wear and products for mothers and babies, as well as defending the traditional high-end luxury garment markets.

Allan confirmed that Australia remains the dominant world supplier of fine apparel wool. To keep up to date with all of the AWI market updates, visit the AWI Market Intelligence page. See Allan's presentation here

Producer Geoff Power, from the Flinders Merino group, discussed how, from humble beginnings with Bestprac, they have now increased their own brand and industry.

Geoff said the opportunity to ‘influence the influencers’ came about on a trip to China. They achieved this by sponsoring a design prize for students, from The Hong Kong Polytechnic University, using Australian wool in their design. The winners of this prize receive a trip to Australia to visit Flinders Merino businesses to see how and where the product is produced. See the video presentation here

Geoff suggested that wool growers should look for opportunities to promote the industry and be prepared to take risks, in order to enhance their businesses. See Geoff's PowerPoint presentation here

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Last changed: Jun 26 2013

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