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Article: AWC plans major cutback in output of Aussie wool. (Australian Wool Corp.)
- Article from:
- Daily News Record
- Article date:
- November 8, 1990
- Author:
CopyrightCOPYRIGHT 1990 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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AWC PLANS MAJOR CUTBACK IN OUTPUT OF AUSSIE WOOL
MELBOURNE, Australia (FNS) -- The Australian Wool Corp. has announced a major plan to cut back wool production in order to ensure that the wool floor price will remain at an average of seven Australian dollars ($5.5, U.S.) per kilogram or higher.
The plan, which was announced as the International Wool Secretariat prepared to meet in Launceston, Tasmania, involves slashing Australian wool production by more than one quarter and the disposal of up to 20 million surplus sheep.
The Wool Corp. chairman, Mr. Hugh Beggs, said the plan, which has the full support of the Australian Government, would make sure ...