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

EU renews GSP+ scheme for Pakistan 2 years

Apparel/Garments | On 24th Feb 2018

EU renews GSP+ scheme for Pakistan 2 years

Pakistani exporters can enjoy preferential duties on exports to the...

Surat wary of e-way bills

Textiles | On 24th Feb 2018

Surat wary of e-way bills

There is no respite for Surat’s textile manufacturers and retailers....

Retailers choose sides in Alibaba-Tencent battle in China

Apparel/Garments | On 24th Feb 2018

Retailers choose sides in Alibaba-Tencent battle in China

Two big Chinese firms— Alibaba Group Holding Ltd and Tencent Holdings ...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Anvita Mehra
Confidential Couture

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

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Steve Cole
Xerium Technologies

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

Suresh Patel
Sidwin Fabric

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

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

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 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
70.6%
No
12.7%
Skip
16.7%

Total Votes: 102

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.7%
No
29.4%
Skip
6.9%

Total Votes: 102

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
88.2%
No
8.8%
Skip
2.9%

Total Votes: 102

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
83.3%
No
7.8%
Skip
8.8%

Total Votes: 102


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