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New Zealand fine wool to fetch high prices
31
May '11
Companies processing fine wool in New Zealand are expecting the prices to rise by up to 60 percent this season due to a supply-demand imbalance. The 18-19 micron range is already witnessing high prices in Australia.

It is being expected that the new season beginning July-August this year will see the prices increase by NZ$ 4-5 per kg.

Due to shortage in supply of fine wool, growers in New Zealand are looking forward to an increase between 30 to 60 percent over the last years' prices, depending on the micron range.

The prices of carpet wool have already risen and experts believe that it may turn out to be the best season for merino wool, as the long term recovery is underway.

Growers, processors, traders and retailers are all going to benefit due to the rise in prices. The manufactured goods have just started coming into the market and consumer resistance to high price level is not expected this year, due to increase in demand.

To an extent, the rise in demand can be attributed to new wool promotion initiatives undertaken by different organizations, including the International Campaign for Wool.

Fibre2fashion News Desk - India

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