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

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Interviews View All

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Rahul Bhadani

Navigating through catalogues is a bit hasslesome

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...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Sonam & Paras Modi

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


Letter To Editor

(Max. 8000 char.)

Search Companies


news category

Related Categories:
July 2017

July 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