Raymond buys finest Australian wool

Written by Bloomberg | Updated: Mar 20 2010, 05:00am hrs
Raymond Ltd, Indias biggest woollen fabrics maker, bought a bale of the finest-diameter wool ever offered at Australian auction sales, AWB Ltd said.

Lempriere Australia bought the bale on Wednesday on behalf of Raymond for A$170,000 ($157,000), Ted Wilson, superfine wool specialist at AWBs Landmark unit, said in Melbourne. The fibers diameter measurement is 11.4 microns, compared with about 8-to-12 microns for silk, he said.

India is expected to buy an increasing proportion of the Pacific nations wool exports after becoming the second-largest purchaser by volume last fiscal year, Australian government commodity forecaster said this month. The bale could make between 40 and 50 suits and highlighted the use of the fiber for high-quality clothing, AWBs Wilson said.