Home / Knowledge / News / Textiles / Steep increase in wool prices in Africa
Steep increase in wool prices in Africa
11
Oct '12
This week’s sale saw a sharp increase in prices compared with last week and the Cape Wools Merino indicator gained 8.3% to close at R96.86/kg (clean).

This was due to a much weaker rand, an increase in the Australian market and possibly also as a result of buyers filling export quotas. After almost touching R9 to the US dollar on Monday, the rand on Tuesday and Wednesday this week made a slight comeback but at R8.71, was still 3,8% down against the US dollar compared with the average rate at the previous sale. The rand at R11.15, had also lost 2.9% of its value against the euro.
 
It was a small sale with only 6 491 bales on offer of which 99% was sold. Major buyers were Standard Wool SA (2 546 bales), Modiano SA (1 248 bales), Lempriere SA (1 087 bales) and Stucken & Co (931 bales).
 
Fine wools were in keen demand with prices increasing significantly. The quality of the fine wools offered was excellent. Medium wools, particularly 22 microns, were also highly sought after.
 
The average clean prices for the different categories good top-making (MF5), long fleeces were as follows: 18 microns gained 7.8% at R107.02/kg, 18.5 microns rose 6.4% to R104,60/kg, 19 microns were 5.6% dearer to close at R101.57/kg, 19,5 microns gained 5.3% to R99.58/kg, 20 microns were 6.2% dearer at R96.64/kg, 20.5 microns gained 6.9% at R96.00/kg, 21 microns rose 7% to R95.61/kg, 21.5 microns were up 7.3% at R94.65/kg and 22 microns were up 8% to close at R93.58/kg.
 
Approximately 9 000 bales will be offered at next week’s sale.

Cape Wools

Must ReadView All

Textiles | On 28th Mar 2017

India may impose duty on elastomeric filament yarn

The Government of India is likely to impose anti-dumping duty on...

Courtesy: Kraig Laboratories

Textiles | On 28th Mar 2017

Kraig gets certificate for silk production in Vietnam

Kraig Biocraft Laboratories, Inc., a leading biotechnology company...

Information Technology | On 28th Mar 2017

Intex Consulting signs partnership with Kawan Era Baru

Germany based Intex Consulting GmbH has entered into a strategic...

Interviews View All

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Divyesh Mashruwala
Akshar Industries

Surat dominates foiling, embossing and pleating

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Paolo Ocleppo
Sandvik Hyperion

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

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Wendell Rodricks
Wendell Rodricks

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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