Traders interests increase with rising wool prices

26 May '10

2 min read

With the increasing prices of wool this year, trader's interests are also growing. The first bales of wool have started entering buyer's backyard. But, as against wool bale prices quoted in Quinns, Baltinglass at 65 cents per kilograms, several wool traders have quoted the starting price of wool bales as 70 cents per kilograms.

Currently, the trend is, Connacht Gold is paying 70 cents per kilograms, Lannens in Dungarvan has offered to pay 75 cents per kilograms, a few other farmers have already earned 80 cents per kilograms for their fleece whereas, 85 cents per kilograms was also paid for bulk volumes in the North East region of Ireland.

As per James Murphy, Irish Farmers Association's (IFA), National Sheep Committee-Chairman, sheep farmers are likely to demand atleast 100 cents per kilograms for correctly packaged clean wool, especially if one takes into consideration the enhanced market returns and the current scenario. Also, a few farmers have already starting earning 86-90 cents per kilograms for correctly packaged clean wool.

The key reason, according to industrial experts, for the increasing wool rates is that, there is no stock of last year's wool that is being carried forward to this year. More so, the volume of wool offered, has also adversely reduced, owing to dipping number of sheep.

For instance, as per the Australian government's records, the biggest wool manufacturing country, sheep flock in Australia, has reduced by 56 percent during the years 1990-2008.

Fibre2Fashion News Desk - India

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