Home / Knowledge / News / Textiles / Australian wool market upbeat on strong performance
Australian wool market upbeat on strong performance
12
Jan '12
The good performance by the wool market in Australia during the last two years has rekindled hopes of resurgence of the wool industry in Australia.

Wool producers in the country continue to witness good seasons with high prices as breeding-up sheep is a slow and gradual process.

Although the current economic crisis, especially in Europe, is of concern to the country's wool industry, producers are looking forward to fetch high prices this year.

Wool seems to back in fashion, as it is being valued more in recent years by young generation of consumers and several brands that are stocking woolen products on their shelves.

The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES) expects wool production in Australia to grow by 4 percent to 446,000 tons in 2011-12, owing to the growing numbers of sheep shorn and high yield per head.

In 2010-11 season, sheep flock in Australia rose by 9 percent to 74.3 million and in the current season it is estimated to increase by 5.4 percent to 78 million. However, the average wool shorn from a sheep may remain at last season's level of 4.3 kg.

The rise in wool production in Australia is likely to bring prices downward and ABARES has forecasted the wool price on the Australian Eastern Market Indicator to decline by 2 percent in 2011-12 to average Au$ 11.10 per kg.

On the export front, demand for wool items in Chinese domestic market is likely to be high owing to rising affluence there. But the weak growth in Japan, the US and the debt crisis in Europe are likely to dampen demand in these countries.

In 2012, Australia's wool exports are projected to gross last year's value of about Au$ 3 billion.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 24th Mar 2017

UK online retail sales up 15% in February 2017

Online retail sales in UK have grown by 15 per cent year-on-year in...

Courtesy: Messe Frankfurt

Textiles | On 24th Mar 2017

Over 3341 exhibitors participate in Intertextile Shanghai

More than 3,341 exhibitors from 26 countries and regions participated ...

Apparel/Garments | On 24th Mar 2017

Tiruppur garment cluster hopeful of meeting export target

The Tirupur garment cluster is hopeful of meeting its target of...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Urs Stalder
Sanitized AG

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Wendell Rodricks
Wendell Rodricks

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Ritu Kumar
Label Ritu Kumar

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

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

news category


Related Categories:
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