South African wool industry stands to lose millions of Rands in lost revenue

The South African wool industry stands to lose millions of Rands in lost revenue due to the halt of raw wool exports as a result of an outbreak of foot-and-mouth disease in KwaZulu-Natal. The Department of Agriculture, Forestry and Fisheries, the South African Wool and Mohair Buyers' Association (Sawamba) and the Wool and Mohair Brokers' Association point out that the potential total losses for the remainder of the 2010-11 season and the 2011-12 season would be in the region of R2345billion, which could cripple the wool trade, and subsequently put a large number of farmers out of business.