THE RESPONSE OF THE AUSTRALIAN WOOL INDUSTRY TO THE DECLINE OF THE GLOBAL WOOL FIBER MARKET

摘要

This research will investigate trends affecting the global demand for wool fibers while examining the factors that have caused the decline of wool in the global fiber market. The Australian wool industry is a major player in the global wool market, supplying some two-thirds of market needs (The Financial Times, 12/08/00). This paper analyzes the Australian wool industry's response to changes affecting global demand for wool and assessing the future for wool, and for the Australian wool industry, hypothesis Information has been gathered from a wide spectrum of secondary sources, including academic journals, trade and commercial institutions, such as the Woolmark Company, Australian Wool Innovation Ltd, and the International Wool Textile Organization. Also, included is an assessment of the competitive position of the Australian wool industry. While researching the factors responsible for the shrinking global demand for wool fibers particular interest will be paid to economic, technological, and cultural events occurring in the last forty years. The appropriateness of Australia's response to the changing industry will be measured with respect to timing, supply, technical development, and marketing policies of the Australian wool industry. A future outlook for wool in the global market and in the Australian wool industry will be put forward.