South Africa should intensify efforts to diversify its wool export market, according to the head of economic and agribusiness intelligence at Agbiz, Wandile Sihlobo.
He said that South Africa’s wool industry had suffered a major setback due to Chinese authorities temporarily suspending wool imports from the country as a result of the foot-and-mouth disease outbreak earlier this year.
According to Sihlobo, China accounted for an average of 71% of South Africa’s wool exports in value terms over the past five years. However, instead of being reliant on the Chinese market, South Africa’s wool industry needed to rather focus on increasing its market share, he said. Among the possible markets that could be targeted were India, Italy, the Czech Republic, South Korea, Egypt, Thailand, Bulgaria, Japan, Germany, Turkey, Taiwan, Lithuania, and…