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

Digital textile printing sector to grow by 20% by 2020

Textiles | On 18th Jun 2018

Digital textile printing sector to grow by 20% by 2020

The digital textile printing sector is expected to have a compound...

Courtesy: Hela Clothing

Apparel/Garments | On 18th Jun 2018

Hela's latest label revolves around underwear, sleepwear

The latest collection of Sri Lanka’s Hela Clothing is revolves mostly ...

Kenya levies higher duties on mitumba import

Apparel/Garments | On 18th Jun 2018

Kenya levies higher duties on mitumba import

Kenya’s treasury secretary Henry Rotich recently raised the duty on...

Interviews View All

Hannah Lane
Redress

Encouragement from brands will motivate supply chains to become more...

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Iago Castro Asensio
RCfil Distribuciones S.L.

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

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Pranav Mishra
Huemn

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

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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