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

Textiles | On 29th May 2017

Special package creates 7,50,000 jobs in garment sector

The special garment package of Rs 6,000 crore that was introduced by...

Md Siddiqur Rahman, president, BGMEA, addressing a press conference with other dignitaries. Courtesy: BGMEA

Apparel/Garments | On 29th May 2017

BGMEA asks govt for 5% incentive for 2 years in Budget

The Bangladesh Garment Manufacturers and Exporters Association...

Textiles | On 29th May 2017

Tintex, Bruckner bring new effects to knitted fabric

The textile company Tintex has joined hands with the system supplier...

Interviews View All

Evelyne Cholet
UCMTF

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

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search