Home / Knowledge / News / Textiles / Wool exporters up in arms against currency punters
Wool exporters up in arms against currency punters
09
Oct '09
The wool manufacturing and exporting sector is up in arms against so called punters, who speculate on the New Zealand dollar, which is detrimental to the interests of the exporting community from across all industries.

They want the government to take steps to stop this practice and that the government should clearly differentiate between productive investment and international speculation with the national currency of the country.

One wool exporter says that since mid-March the Kiwi dollar has gone up 46 percent and seriously undermined gains that should have ended up in farmers' pockets.

Wool prices paid to farmers have increased slightly on average since March, but the appreciation of the Kiwi dollar has wiped out the gains that would have accrued to the wool growers and exporters and could have helped them earn $1 per kg more.

This in turn makes the New Zealand wool more expensive, when compared with those in other countries, which also has the potential to take the business away from the country, adds the expert.

Fibre2fashion - News Desk, India

Must ReadView All

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Pakistan's Finance Minister Mohammad Ishaq Dar presenting Budget 2017-18 in National Assembly in Islamabad on May 26. Courtesy: PID, Pakistan

Textiles | On 27th May 2017

Pakistan Budget 2017-18 proposes 4 new measures

To support the textile sector in Pakistan, finance minister Mohammad...

Textiles | On 27th May 2017

Indian exports can touch $325 bn in 2017-18: FIEO

Indian exports are on upward trend in last few months as the country...

Interviews View All

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

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 ...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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