Home / Knowledge / News / Textiles / Australian wool prospects still positive - Economist

Australian wool prospects still positive - Economist

Jul '12
With positive market outlook for wool, there are good prospects for sheep producers in Australia, independent agricultural economist Peter Rowe said while speaking at the DAFWA Agribusiness Sheep Updates.
Although wool prices have witnessed a fall in recent times, wool prospects remain to be good, backed by steady demand, he said.
Wool, as a commodity, was doing quite well till the recent financial crisis in Europe. The price of wool increased from 990 cents per kg in 2010 to a record high of 1,500 cents per kg around the start of 2011, which raised the confidence that the commodity is rising above the impacts of the recession. 
The positivity in wool prices continued until July last year, after which there was a fall in demand for wool owing to the concerns about the eurozone debt crisis and people started apprehending that the EU economy may collapse, Mr. Rowe said.
Despite a fall in demand from Europe, wool growers are still receiving orders from the US and an emerging group of buyers from China, which raises optimism that wool prices would rise and stay up in the future, he said.
Mr. Rowe predicted that Australia’s wool output for current fiscal would remain slightly above last fiscal, while that of China and New Zealand would fall.
He also forecasted that India and the UK’s wool output for the period will remain steady and none of the major wool producing countries is seen making any addition to the existing sheep flock.
He added that though there has been a slight fall in demand for Australian wool, there are good prospects in other markets like India, China and the US.

Fibre2fashion News Desk - India

Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 2nd Aug 2021

Vietnam surpasses Bangladesh as 2nd biggest garment exporter: WTO

Bangladesh recently lost its rank as the second largest apparel...

Pic: Shutterstock

Textiles | On 2nd Aug 2021

Euro zone economy expands by 2% in Q2 2021: Eurostat

The 19-member euro zone financial system expanded by 2 per cent in...

Pic: Shutterstock

Textiles | On 2nd Aug 2021

US real GDP increases at annual rate of 6.5% in Q2 2021: BEA

US real gross domestic product (GDP) increased at an annual rate of...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Marry with brand ethos

Textile Industry, Head honchos

Textile Industry
Head honchos

Occam's razor principle and purpose-driven innovations

Florian Heubrandner, Lenzing AG

Florian Heubrandner
Lenzing AG

Cannot see the world breaking away from cotton & polyester

Erwin Devloo,

Erwin Devloo

The Picanol Group is a diversified industrial group active worldwide in...

Kriti Kanodia,

Kriti Kanodia

A TV show in 2012 where actor Sonam Kapoor customises her own pair of...

Benedetta Terraneo,

Benedetta Terraneo

Miko Srl, a subsidiary of US-based Sage Automotive Interiors and a member...

Suresh Patel, Non Woven Federation of India

Suresh Patel
Non Woven Federation of India

The Non Woven Federation of India (NWFI), representing the regional...

Tiasha Renganathan, Twinery Innovations by MAS

Tiasha Renganathan
Twinery Innovations by MAS

Twinery-Innovations by MAS is the innovation arm of Sri Lankan company MAS ...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Sailesh Singhania, Sailesh Singhania Label

Sailesh Singhania
Sailesh Singhania Label

The Sailesh Singhania label was created to promote handwoven sarees and...

Archana Jaju, Label Archana Jaju

Archana Jaju
Label Archana Jaju

<b>Archana Jaju</b>’s Hyderabad-based eponymous label works with artisans...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

July 2021

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

Advanced Search