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Raw wool to register better prices this year

10
May '10
Sheep farmers are expected to procure better prices for wool this year. Wool producers will obtain much higher returns compared to the recent years, said Ian Hartley, Chief Executive of the British Wool Marketing Board (BWMB), which handles almost entire wool clip in the UK.

During the BWMB's fortnightly auctions, prices of Blackface wool reached up to 93 pence per kilo, recording a growth in the range of 55 and 87 percent since December, 2009.

Wool prices touched 93 pence at the end of the season when there was a need to strictly monitor the release of wool in the market, said Mark Powell, who trades wool on behalf of BWMB.

As the average price per fleece is between £1.5 and 2, against an average shearing cost of about £1 per head, Hartley expects the prices to increase as compared to last year's figures.

The economic slowdown hit the wool market heavily, as large amounts of wool sold in the UK markets is being consumed by the carpet industry.

Moreover, Chinese buyers' reappearance in the world wool market is further influencing the market positively, leading to further increase in prices.

Fibre2Fashion News Desk - India


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