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Expert forecasts dip in clothing wool production
20 Jan '10
1 min read
According to projections made by a South African wool expert, global clothing wool production is expected to decline by 10 percent in the 2009-10 season and again by 5 percent in the 2010-2011 season.
Ms Ona Viljoen of Cape Wools has projected the decline based on estimates from the main wool-producing countries. Apparel wool production in Australia, which has a global market share of 46 percent, dipped by 8 percent in 2008-09 and is forecast to plunge by 5 percent in current season.
Viljoen feels that this would mean good times for wool producers as this will help shore up prices, but warned that short supply on its own cannot bolster prices, as demand is also a important component for prices to firm up.
She said poor order positions from retailers in Europe and US was affecting demand from the wool textile industry, but expected that once demand picks up, prices too would gain momentum.
Ms Ona Viljoen of Cape Wools has projected the decline based on estimates from the main wool-producing countries. Apparel wool production in Australia, which has a global market share of 46 percent, dipped by 8 percent in 2008-09 and is forecast to plunge by 5 percent in current season.
Viljoen feels that this would mean good times for wool producers as this will help shore up prices, but warned that short supply on its own cannot bolster prices, as demand is also a important component for prices to firm up.
She said poor order positions from retailers in Europe and US was affecting demand from the wool textile industry, but expected that once demand picks up, prices too would gain momentum.
Fibre2fashion News Desk - India
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