Obscure Box

Thoughts from inside the obscure box

August 13, 2008

Are the Olympics being blamed for everything?

Posted by : Michael Lund
Filed under : Media, Online

Here's one out of left-field.

The Beijing Olympics are now being blamed for a slump in Australia's wool prices!

The ABC's report "Olympic Games blamed for slump in wool prices" (Wednesday 13 August 2008) says prices have dropped 200 cents a kilo to just 830 cents. (That's a drop of $2 to $8.30/kg in English.)

How are the Olympics to be blamed for that, I hear you cry.

The Wool Agency's Andrew Johnston explains:

"It appears the Olympics have been affecting the market," he said.

"We do know that with the pollution aspect, industry has been closed down. We've heard that industry as far away as 15 to 1600 kilometres from Beijing has been shut down, and that includes the wool processing areas."

So efforts to reduce the smog in Beijing have a knock on effect on the Australian wool industry.

How's that for a distant cause and effect. Who would have thought?

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All thoughts and comments here are the honestly held personal opinion of Michael Lund and are based on the information available at the time of publication.