Home / Knowledge / News / Textiles / Wool on the Rise cancelled as demand grows
Wool on the Rise cancelled as demand grows
25
Feb '11
The British Wool Marketing Board (BWMB) has introduced monthly auctions at the end of season, replacing the fortnightly offering due to the rising demand for wool.

At BW82 - 23th February sale the prices were strong with an average price of 157.05 pence per kg and with clearance at 99% on 1.66 million kgs of wool, reflecting a trend that has been evident throughout the season. The BWMB has moved to the monthly auctions to ensure that they can continue to provide wool to merchants in the remaining months leading up to the new season.

Wednesday's sale was described by as 'a very strong sale from the outset with most types seeing good price gains', however Ian Hartley, CEO of the BWMB explained: “We have seen continuous rising interest in wool this season. Our clearance levels at sale have been continuously high as well; this has depleted our supply of British Wool. As the BWMB sell wool to meet textile industry needs and demand, we have had to change from fortnightly to monthly auctions to ensure that there will be an offering available until early June, when the new season sales will commence.”

Frank Langrish, Chairman of the Board commented – “These conditions are exceptional and we have seen the best price levels in over twenty years. We predicted that the conditions for selling wool were changing for the better early last year and that this would significantly improve returns to our producers and we have been right. The auction system shows its true worth in a thriving market because the best price is always achieved in a competitive environment.”

A combination of reasons has contributed to the sudden change in wool's fortunes; sheep numbers across the world have reduced significantly – by 40% in the UK since 2000 - and so there is a much reduced level of wool available to the textile industry. Textile industry manufacturers that had destocked due to the economic conditions that set in 18 months ago are experiencing low supply levels in a market that has seen heavy promotion of wool due to the Campaign for Wool.

“We feel the time is right for wool and our auction is showing this to be correct.” Mr Hartley Said.

British Wool Marketing Board (BWMB)

Must ReadView All

Courtesy: BGMEA

Apparel/Garments | On 27th Feb 2017

'Brands & buyers should help Bangladeshi factory owners'

Brands and buyers should come forward to help factory owners in...

Apparel/Garments | On 27th Feb 2017

Myanmar sets up new committee to revise minimum wage

The Government of Myanmar has set up a new committee, replacing an...

Courtesy: PT Indonesia Taroko Textile

Textiles | On 27th Feb 2017

Taiwan's Lealea to buy Tarako textile plant in Indonesia

Taiwan based textile manufacturer Lealea Enterprise Company, one of...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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
February 2017

February 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search