China lifts import quota on Australian wool by 5 per cent

Australian wool remains unscathed from trade tensions with China, with imports increasing by 5 per cent.

The Department of Foreign Affairs and Trade today confirmed the quota will be lifted at a time when several Australian commodities such as barley, wine, coal and timber have been blacklisted.

The quota will increase to just over 38,000 tonnes, up from around 36,000 tonnes in 2020.

New Zealand’s import quota to China remains unchanged.

After a year of volatility for the wool market, it has been a welcome outcome for the industry.

The 5 per cent increase was…