China's emerging influence as a buyer of New Zealand wool has been well demonstrated in wool prices last week, when China's absence in the market partially played a part in easing the wool prices. China did not participate in the wool purchase last week as it celebrated its New Year.
A boost has been witnessed in the exchange rate (commodity prices) over the last few days and the market too has responded to the current rise in the prices, but in spite of that almost all of the 12,700 bales that were put up for sale were sold.
John Dawson, General Manager of the New Zealand Wool Services International revealed that, the prices of fine crossbred fleece and shears witnessed a fall of two percent, and the prices of coarse crossbred fleece and long second shears dropped by up to two percent, while the prices of short shears fell by up to four percent.
Also the oddment prices dropped by up to five percent, but then the prices of lambs' wool registered a rise of up to two percent.
Wool Partners International auctioneer Dave Burridge revealed that, the mid-micron met heavy demand and registered a rise of around two percent on back of limited supply.
Fibre2fashion News Desk - India
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