Home / Knowledge / News / Textiles / Wool drop an economic overreaction, WAFarmers
Wool drop an economic overreaction, WAFarmers
10
Nov '08
The Western Australian Farmers Federation (Inc) (WAFarmers) Wool Section Senior Vice President, Kim Henderson, believes the fall in wool prices is simply an overreaction to the world economic crisis, with a correction highly possible in the near future.

“It appears that China has put buying on hold as a reaction to the credit crunch, and utilising some of the wool that is in the pipeline,” said Mr Henderson.

“Additionally, the US purchase around 18 months ahead in terms of wool sale-to-retail, so the 2010 winter acquisitions program is just about done. This, combined with US consumer confidence slumping, is stopping US demand in its tracks.”

Mr Henderson commented that economies are being stimulated throughout the world with the aim of reaching some stability.

“As this occurs, it is likely oil prices will slowly increase, driving synthetics prices higher again.”

“This combined with falling sheep numbers and thus wool supply in Australia, and some adjustment from China as they resume somewhat normal trading conditions, should see wool prices stabilise and rise.”

“The recent events highlight that there are many factors affecting world economies and that close attention of market trends are needed.”

Mr Henderson recently attended a marketing update session with Australia Wool Innovation (AWI) in Sydney, where a new wool brand was launched. The launch is planned to increase demand for Australian wool by 20 million kilograms per year.

“AWI's new marketing program seems very well designed and innovative and it's essential that the wool industry capitalises on this launch with a focus on comfort factor and quality control from the farm right through to fashion houses.”

“Failure to do so may result in demand for wool falling further,” concluded Mr Henderson.

The Western Australian Farmers Federation

Must ReadView All

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Apparel/Garments | On 19th Jan 2017

Asahi Kasei to display sustainable fibre at trade shows

Asahi Kasei, specialty Japanese fibre producer, will be displaying...

Interviews View All

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Judy Frater
Somaiya Kala Vidya

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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
January 2017

January 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