Australia's wool industry is enjoying some of its highest prices in nearly two decades. Analysts say the strength of fine wool sales from the world's largest producer is being driven by rising demand for high end wool in China.
Australian wool producers believe that the rising middle-class in China is the vital new force in wool consumption. Analysts said that though the price rise would not last forever, it is still enough for producers to make good profits. The increase in demand has also inspired producers to pay attention to innovation in order to improve their commodities.
