SA wool exports spin up by 11%

South African President Cyril Ramaphosa (C) delivers his 2023 state-of-the-nation address (SONA) at the Cape Town City Hall in Cape Town on February 9, 2023.
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JOHANNESBURG – Wool exports are seeing some signs of recovery after a sharp decline in 2022.
According to the Agricultural Business Chamber of South Africa, 2023 exports increased by 11 percent year-on-year.
The Chinese market’s temporary closure at the end of 2022 caused major challenges.
It was closed off to South Africa to protect it from foot-and-mouth disease.
China is a major buyer in the global wool trade.
Over the past ten years, it accounted for about 69 percent of South Africa’s annual wool exports.