Home / Knowledge / News / Textiles / New Zealand wool prices decline on rising currency
New Zealand wool prices decline on rising currency
22
Jul '11
The prices of New Zealand wool have declined from their recent hikes. At the joint auction of North and South Island wool on July 21, about 65 percent of the nearly 18,000 bales on offer were sold.

The prices saw a decline of two to five percent since the last auction of South Island wool held on June 30, and the sales of North Island wool held a week later.

A factor that impacted the price was the 3.56 percent rise in the value of New Zealand dollar during the past fortnight, against the major wool trading currencies.

Limited overseas buying, owing to holidays in Europe, and comparatively high volumes of supply in the market than is normal at this time of the year, were among the other factors that pushed the prices downwards.

However, the fleece for the coarser end of the mid micron types withstood the declining trend and its price closed 1.5 percent higher.

Price of fleece for the fine end of the mid micron types decreased by three percent compared to earlier auction sales. While the price of fine crossbred fleeces were 3.5 to 5 percent down, the price of shears went down between zero and three percent.

Long oddments were available at rates which were about four percent lower compared to the previous sale, while short varieties were down by about five percent. The price of a usual offering of first lambs' types also decreased by up to 2.5 percent.

The principal buyers were from China, India and Australasia. There were also few buyers from the United Kingdom, Western Europe and the Middle East.

The next auction sale is scheduled for July 28, where around 4,300 bales of South Island wool and 9,200 bales of North Island wool are expected to arrive.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 27th Mar 2017

Himatsingka to disinvest 100% stake in Italian subsidiary

The board of directors at Indian home textiles manufacturer and...

Courtesy: Flipkart

Apparel/Garments | On 27th Mar 2017

Flipkart bags $1bn funding at lower valuation

In a new round of funding, Flipkart, one of India's biggest ecommerce ...

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Anvita Mehra
Confidential Couture

‘It is going to take some time for Indian buyers to get accustomed to...

Nuno Venda
ROQ

‘There has been an increase in demand for water based inks, rather than...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search