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Wool imports touch record highs in 2010
06
Aug '10
After the gradual recovery of wool prices in the second half of 2009, Nanjing Wool Market Price Composite Index has been steadily rising and was on higher level in the first half of 2010.

In May and June, volatility of exchange rate in international financial market lowered domestic Australian wool price, but the market soon picked up with the appreciation of Australian dollar.

The average price of Nanjing Wool Market Price Composite Index was 57.37 Yuan / kg in the first half, an increase of 13.21 Yuan / kg or 29.9 percent over the same period of 2009.

China imported 155,000 tons of wool in the first five months of 2010, up 15.24 percent year on year, of which, 124,700 tons were raw wool imports, up 12.66 percent year on year; 22,000 tons were washed wool imports, up 35.16 percent year on year; 6942 tons were tops.

Total wool imports of the year represent the largest import volume over the same period in last decade.

As prices of imported wool rose in the first half, domestic wool price has also been pushed higher. Purchase price of wool has significantly increased in 2010.

The average price of fine wool has increased by 4-8 Yuan per kilogram. Similarly, prices of cashmere, rabbit hair, mohair, alpaca and other such fibers have sharply increased, especially purchase price of cashmere, which has even doubled in some areas.

Fibre2fashion News Desk - China

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