Home / Knowledge / News / Textiles / Economic crisis pushes wool prices down
Economic crisis pushes wool prices down
Feb '09
The deepening global economic crisis continues to impact negatively on the wool market and Cape Wools' Merino indicator shed 6,3% compared with last week to close at R43,68/kg (clean). This is down 21% on the opening level but still is 2,4% above its low posted in October 2008.

Buyers say business conditions have deteriorated and orders from most regions, but particularly from Europe, have declined drastically as the economic crisis begins to bite.

The rand, which at R10,02 had gained 0,9% against the US dollar compared with last week's exchange rate, put further pressure on the market prices.

A fairly low sales percentage was obtained when only 86% of the 8 607 bales on offer changed hands. Major buyers were Standard Wool SA (2 168 bales); Lempriere SA (1 862) bales); Stucken (1 242 bales) and Segard Masurel 1 071( bales).

Average prices for long fleece wools were down across the board.

Average prices for AWEX types MF4 and MF 5 (70mm to 80 mm) were as follows: 19 microns dropped 8,4% to R56,48/kg; 20 microns were down 3% to R49,19/kg; 21 microns were 3% cheaper at R46,57/kg and 22 microns shed 1,8% to R45,72/kg. There were no quotes for 23 microns to 25 microns.

Approximately 9 000 bales will be offered at next week's sale.

Cape Wools SA

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 29th Apr 2017

EU rules needed to curb textile worker exploitation: MEPs

European Union (EU) rules are needed to oblige textile and clothing...

Apparel/Garments | On 29th Apr 2017

US retail operating growth to be 1.5-2.5% in 2017: Moody's

The forecast for operating income growth in the US over the next 12...

Interviews View All

Rashi Menda

Every fifth sale we make on Zapyle is a repeat purchase

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

Neel Sawhney
One Friday

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

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...

Kevin Nelson

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

Prathyusha Garimella
Prathyusha Garimella

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

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Rupa Sood and Sharan Apparao

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

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
April 2017

April 2017

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


Browse Our Archives


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