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Wool growers seek salvation in US market
27 Oct 2005
After a decade of inexorably declining prices and production, the wool industry is gearing up for a US$7 million marketing program in the United States. The Woolmark Company said the industry experienced a 3.1 per cent compound annual growth rate decline over the last 10 years. Australia's wool production has halved from more than a million tonnes in the late 1980s to 520,000 tonnes this financial year. The price has crashed from $11 a kilogram in 1990 to an average of $6.97 a kilo this year. Wool has 10 per cent of the $900 billion global apparel market.
The Australian, 27/10/05
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