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Sheep farmers purchase own wool for further trading
30
Oct '10
The sheep farmers in New Zealand are purchasing their own wool from the co-operatives and then selling the wool again to the textile as well as carpet producers throughout the world. This has emerged as a remarkable solution for the stakeholders who have been asking for greater control over the supply of wool to the industry.

The strong wool that is found in large areas of New Zealand is less popular in the market than the fine merino wool of South Islands. The fine merino wool is used in the clothing sector.

Coarse wool prices are falling gradually for about a decade and have not been in a position to meet the expenditure of shearing also. In the last few months, wool prices have registered a growth and have reached a 20 year record high. This has led the farmers to buy their own wool and then sell it back to the industry to generate more income.

Fibre2fashion News Desk-India

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