Home / Knowledge / News / Textiles / Emergency measures instituted in the Adult mohair sector
Emergency measures instituted in the Adult mohair sector
13
Oct '10
The fourth sale of the 2010 mohair winter season took place (12 October 2010) with a total of 108 676kg on offer, and the biggest news was the 9% decline in the adult mohair market indicator, to close at R70.85, despite emergency intervention from the mohair industry.

The drop in the adult market indicator was exacerbated by the poorer quality of the clip on offer.

Turning to the emergency intervention, Deon Saayman, general manager of Mohair South Africa, says that the Mohair Pools company stepped in to assist producers following the sudden decline in the international adult mohair market. “They agreed to take in adult mohair at a 45% premium above the current floor price level, effective immediately, for the remainder of the current winter season.”

The decision was taken after several emergency meetings convened by the Mohair Pools company and the Mohair Trust, within the mohair industry and follows increased reports of producers succumbing to the sustained and crippling drought in the Eastern Cape region. “We took the decision to introduce these measures because of the very real risk of more producers making the decision to opt-out of mohair production. Added to which, the ban on buying adult mohair by China due to the Rift Valley Fever scare, hasn't helped matters,” said Saayman.

“Essentially Mohair Pools will buy and pay for the adult mohair from producers and hold it until the price moves above the break-even figure. It could then be sold and any additional profits realized, will be paid to the producers,” explains Saayman.

Meanwhile Fine quality kids sold well today and young goats experienced good demand. The currency continued to strengthen against the dollar from the precious sale and is now 7% stronger than the start of the winter season.

Compared to the previous sale, prices were as follows:
• Young goats (winter) unchanged
• Fine adults down 2%
• Average down 9%
• Exchange rate: R/$ = R6.91 R/Euro = R9.55

The fifth sale of the winter season is scheduled for 26 October 2010.

Mohair South Africa


Must ReadView All

'Requirement of polyester filament yarn is increasing'

Textiles | On 19th Jun 2018

'Requirement of polyester filament yarn is increasing'

The requirement of polyester filament yarn (PFY) is increasing as it...

Courtesy: SAC

Textiles | On 19th Jun 2018

SAC to release pilot of Higg Facility Social Labour Module

The Sustainable Apparel Coalition (SAC) will release this year a...

Courtesy: Ebay

Apparel/Garments | On 19th Jun 2018

eBay partners with Noon for e-commerce sales in Middle East

Noon, the $1 billion e-commerce venture backed by Dubai businessman...

Interviews View All

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Urmil Arya

Sushila International, a well established textile organisation established ...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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


June 2018

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

news category


Related Categories:

Advanced Search