Home / Knowledge / News / Textiles / Buyer warns producers of board's promise on future wool returns
Buyer warns producers of board's promise on future wool returns
09
Jun '10
Sheep producers are warned by an Irish wool buyer, who ended up paying the complete market price on the day of purchase, to not get lured to sell their wool to their competitors on the basis of indications of receiving higher returns, next year.

As per the British Wool Marketing Board's (BWMB) recently published 2010 wool price schedule, a letter was also provided, indicating a striking development in returns, that the producers are likely to receive.

BWMB alleges that, owing to increasing prices at recent auctions held in Bradford, they are likely to be in a position to pay 100 pence per kilogram for Cheviot wool and an unbelievable price of 93 pence per kilogram for Blackfaces and Mules wool.

In reaction to these announcements made by the BWMB, Irish wool buyers who are competing against British wool said that, BWMB has failed to give a thought on the prices, by offering to pay such increased prices next year, a time when the risk of prices plummeting during the auction are high, due to season.

Most likely, producers, who are lured due to BWMB's current promises, might be dejected next year, when they receive the actual returns, after the board has reduced its marketing costs.

More so, rather than the cloud nine notions, Irish wool buyers stated that, they will be providing the best cash prices for the day, purely based on the certainty of the current floating market.

Fibre2Fashion News Desk - India


Must ReadView All

Global economic upswing became broader & stronger: IMF

Textiles | On 19th Apr 2018

Global economic upswing became broader & stronger: IMF

The global economic upswing that began around mid-2016 has become...

Courtesy: ITMA

Textiles | On 19th Apr 2018

ITMA 2019 expanding space due to overwhelming response

Due to overwhelming response, the exhibition space has been increased ...

BIDA’s Europe trip to showcase a different Bangladesh

Apparel/Garments | On 19th Apr 2018

BIDA’s Europe trip to showcase a different Bangladesh

The Bangladesh Investment Development Authority (BIDA) is taking a...

Interviews View All

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

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...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Aditi Somani
Aditi Somani

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

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

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

Leave your Comments


April 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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