Noosa News
Wool exporters face credit squeeze as shipping delays add up to 40 days on to export times to China and Europe
Wool exporters are the latest casualty in the worldwide delays affecting the shipping industry.
Key points:
- Exporters report a seven to 20-day shipping delay in sending wool to China
- More than 85 per cent of Australian wool is processed in China
- Wool exporters face cashflow pressures as delivery dates blow out
A bottleneck at both Australian ports and in Singapore has meant that wool is taking up to 90 days to get to Europe, which is 40 days more than usual, and an extra 10 days to get to China.
Dubbo-based wool broker Don McDonald said the delay is mainly affecting exporters and they may start buying less of the wool as a consequence.
“One of the issues that’s really hampering things at the moment is a congestion in shipping, particularly…
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