Australian fine wool is expected to be better priced by the prosperity of China and Russia, according to a report from Holland's La Po bank.

Although Australia

It recovered in September, but the price of fine wool continued to spiral at a record low, according to reports.

Mr. Chandler said poor retail demand in some major markets led to huge market volatility, and the supply chain's fine wool orders fell.

As Russia's interest in Australian wool rises and the demand for luxury goods in China grows, the two big powers may stimulate fine wool consumers in developed countries, which will be a positive development for Australia's fine wool industry, Mr. Chandler said.

China has imported about 40-50% of raw wool, mainly medium coarse wool, which is used for consumption in the domestic market.

However, China's booming luxury goods market is quite large.

Department sales show that demand for fine wool products will increase.

In the last financial year, Australia's ultra-fine and fine

The demand for raw wool remained low, and medium micron wool slipped, Chandler said.