Home / Knowledge / News / Textiles / New South African wool season to commence from Aug 15
New South African wool season to commence from Aug 15
13
Aug '12
The 2012/13 wool season opens on Wednesday (15 August) when approximately 13 000 bales will be on offer at auction in Port Elizabeth. The season opens amid uncertainty caused by the crisis in the euro zone, which will have a dampening effect on prices. In Australia, where the new season has already commenced, prices have declined sharply. A strong Australian dollar, large offerings at auction and the European holiday contributed to this decline.

The past season has been one of the best in decades with prices rising despite difficult trading conditions. The Cape Wools Merino indicator reached its the highest level ever. The average indicator was 37% higher than last season’s average.

Local buyers expect prices to remain relatively stable, although the market may weaken initially and then stabilize. Exchange rates will also play a role.

In total, 289 689 bales were offered at auction and a 100% clearance rate was recorded. The total sales value amounted to R2,27 billion, an increase of 36% compared with the previous season.

Prices were to a large degree supported by the low world offering of apparel wool, which has fallen to its lowest level in 60 years.

Although trading conditions are expected to remain difficult, analysts expect continuous low production to support prices to some degree.

The offering from Australia, the world’s largest supplier of apparel wool, is expected to remain unchanged at 345 million kg, while production in South Africa, the second largest supplier, has declined by 4% to 44,2 million kg.

China remained the largest importer of South African wool, taking up 48% of the total value of wool exported. The second largest importer was the Czech Republic, followed by India and Italy.

Cape Wools chairman Geoff Kingwill has appealed to wool producers to adhere strictly to the guidelines for the preparation and packing of wool and prevent contamination.

Cape Wools

Must ReadView All

Textiles | On 22nd Feb 2017

India to produce 341 lakh bales cotton in 2016-17: CAI

The Cotton Association of India (CAI) has maintained in its January...

Textiles | On 22nd Feb 2017

'India to be self-sufficient in silk production by 2020'

Indian could be self-sufficient in silk production by the year 2020...

Courtesy: London Fashion Week

Fashion | On 22nd Feb 2017

India bags best country award at London Fashion Week

The International Fashion Showcase (IFS) Country Award was given to...

Interviews View All

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Marten Alkhagen
Swerea IVF AB

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

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Suresh Patel
Sidwin Fabric

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

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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
February 2017

February 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