Reducing number of local processing industry units has exposed the Australian wool industry, stated Australian Council of Wool Exporters and Processors (ACWE) to House of Representatives Economics Committee inquiry into manufacturing.
Dr Peter Morgan says that the Chinese dominance in the wool export market would make local growers helpless if a major disease is found out in Australia.
According to Morgan, increase in wool exported to China will kill the wool industry as export of wool to China has seen a steep surge in recent years.
The wool exported to China was 25 percent nine years ago, it was 54 percent three years ago and last year it stood at a staggering 61 percent.
