Home / Knowledge / News / Textiles / Low production hinders growth of global wool industry
Low production hinders growth of global wool industry
27
Oct '12
Insufficient wool production is the main hindrance in the growth of international wool industry, said Chris Wilcox, chairperson of the marketing intelligence committee of the International Wool Textile Organisation (IWTO), in an interview to ABC Australia.
 
Speaking about the factors affecting wool industry’s growth, Mr. Wilcox cited the growing tendency of raising sheep for consumption of meat in Australia and the rest of the world as an impediment, which can lead to a rise in wool prices and eventually impact the growth and demand of wool in future.
 
He also acknowledged the role played by unexpected incidents like terrorist attacks, financial crises and natural disasters in shaping up the demand for wool internationally, ABC Australia reported.
 
However, he was optimistic that the demand for wool will rise with the growth in population and rising incomes of people in the coming years. The countries where there can be real growth opportunities in terms of wool consumption are China, Turkey, Russia and the Central European nations like Czech Republic, Poland, Bulgaria and Romania, according to Mr. Wilcox.
 
According to industry experts, the worldwide supply of wool is presently at its lowest in the last 70 years. Although the production of wool is expected to increase in the next decade, it would still be insufficient to meet the growing demand.
 
IWTO is the international body representing the interests of the world's wool-textile trade and industry. As such, its membership covers the woolgrowers, traders, primary processors, spinners and weavers of wool and allied fibres in its member-countries, as well as all kinds of organisations related to wool products and the wool business in general.
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 10th Dec 2016

India’s 2016-17 cotton import to touch 17 lakh bales

The import of cotton from international markets by spinning mills in...

Textiles | On 10th Dec 2016

US textile & apparel imports fall 6.50% in Jan-Oct ’16

The import of textiles and apparel by United States dropped 6.50 per...

Textiles | On 10th Dec 2016

Indian textile hubs adopt cashless payment modes

The textile ministry is promoting cashless payment within the...

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...

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Giorgio Mantovani
Corman S.p.A

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

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Jay Ramrakhiani
Occasions Elegance Wear

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

Sonam & Paras Modi
SVA

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

Mike Hoffman
Gildan Activewear SRL

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

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search