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Australian wool threatened by low prices, industry body CEO says

TOKYO -- Australia's wool supply faces challenges as many producers are considering pulling out of the business as prices dip to about half their pre-pandemic peak, the head of Australian Wool Innovation (AWI) told Nikkei Asia.

As of this month, the benchmark eastern market prices at the Australian Wool Exchange have been hovering at just over 11 Australian dollars ($7) per kilogram, far lower than their high of more than AU$20 in early 2019.