Home / Knowledge / News / Textiles / Economic crisis pushes wool prices down
Economic crisis pushes wool prices down
05
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 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

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Amit Jain
Shingora Textiles Ltd

‘In terms of fabric, the fastest growing category for us is a blend of...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Silke Brand-Kirsch
Schlegel und Partner

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

Judy Frater
Somaiya Kala Vidya

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Jay Ramrakhiani
Occasions Elegance Wear

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

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