Wool industry urged to diversify export markets
Call by the Agricultural Business Chamber follows the suspension of imports from SA by China due to an outbreak of foot-and-mouth disease
SA should intensify efforts to diversify its wool export markets to remain viable, the Agricultural Business Chamber (Agbiz) says. This follows the temporary suspension of wool imports from SA by China due to a foot-and-mouth disease (FMD) outbreak. The wool industry suffered a major setback a few weeks ago following the move by China. The disease broke out in Limpopo in January, resulting in the World Organisation for Animal Health (OIE) temporarily suspending SA’s FMD-free zone status. Wool is ranked the sixth-largest exportable commodity in SA’s agricultural sector. In 2018, wool accounted for 4% of SA’s agricultural exports of $10.6bn. Heavy reliance on the Chinese market might have served SA well when there was minimal trade friction, the chamber says. It is however now proving to be a challenge and is highlighting the need to diversify wool export markets in the medium to long term to avert a similar challenge in the future. “While this [diversification] would be a...
BL Premium
This article is reserved for our subscribers.
A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now