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Wool prices record 14-year high
06 Oct '10
1 min read
Wool prices in New Zealand recorded a 14-year high growth in the midst of renewed demand for the fiber in Europe and Middle East. The hike in demand also led to the rise in the prices of raw materials in the month of September.
The index of wool prices recorded a rise of 2.9 percent to 274 points. This was the first growth in a period of four months. Currently, the index is within one percentage point of its all-time high that was recorded in May.
This was caused by a 12 percent rise in the prices of wool. High prices of cotton fibre corresponded with an international depletion of wool stocks, which led to the rise in its prices.
The index of wool prices recorded a rise of 2.9 percent to 274 points. This was the first growth in a period of four months. Currently, the index is within one percentage point of its all-time high that was recorded in May.
This was caused by a 12 percent rise in the prices of wool. High prices of cotton fibre corresponded with an international depletion of wool stocks, which led to the rise in its prices.
Fibre2fashion News Desk-India
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J Rajaraman
Canadian Solar Energy Private Limited
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