Global wool production has fallen to a low in 85 years, wool prices have soared everywhere, of which Australia has risen to a 16-year high, reaching US$15 per kilogram. If the supply in 2011 fails to improve, the Chinese and Indian countries relying on Australian wool will face enormous cost pressures in winter clothing production.
According to reports, if the supply volume fails to increase in 2011, the Australian wool price will further increase and it has reached a new high in 16 years.
The average Australian wool price has risen by 39% in 2011, the largest increase in nine years, and it was quoted at US$15 per kilogram on the 16th, the highest since July 1995. The historical high was $15.72 per kilogram in April 1988.
According to Bloomberg News, due to shrinking supplies, European buyers restocked. South African wool prices are also at a 10-year high.
Aniruddha Deshmukh, president of Raymond, India's largest wool fabric manufacturer, said that the increase in wool has never been seen and it may continue to rise in the next 2-3 months.
According to the International WoolTextile Organization (IWTO), global wool production has fallen to the lowest level in 85 years, and wool prices have been rising as much as Other raw materials such as cotton, wheat and corn, causing global inflation pressure.
The IWTO Market Intelligence Committee, Chris Wilcox, stated that between 2011 and 2012, global wool production will be approximately 109.88 metric tons. The production of the Australian region between 2010 and 2011 was about 34 metric tons.
The Australian Bureau of Agricultural Resources and Agricultural Economics and Economics and Sciences (ABARES) pointed out that the top two buyers of Australian wool between 2009 and 2010 were China and India. The cost of manufacturing winter clothing in both countries will increase due to high wool prices.
According to reports, if the supply volume fails to increase in 2011, the Australian wool price will further increase and it has reached a new high in 16 years.
The average Australian wool price has risen by 39% in 2011, the largest increase in nine years, and it was quoted at US$15 per kilogram on the 16th, the highest since July 1995. The historical high was $15.72 per kilogram in April 1988.
According to Bloomberg News, due to shrinking supplies, European buyers restocked. South African wool prices are also at a 10-year high.
Aniruddha Deshmukh, president of Raymond, India's largest wool fabric manufacturer, said that the increase in wool has never been seen and it may continue to rise in the next 2-3 months.
According to the International WoolTextile Organization (IWTO), global wool production has fallen to the lowest level in 85 years, and wool prices have been rising as much as Other raw materials such as cotton, wheat and corn, causing global inflation pressure.
The IWTO Market Intelligence Committee, Chris Wilcox, stated that between 2011 and 2012, global wool production will be approximately 109.88 metric tons. The production of the Australian region between 2010 and 2011 was about 34 metric tons.
The Australian Bureau of Agricultural Resources and Agricultural Economics and Economics and Sciences (ABARES) pointed out that the top two buyers of Australian wool between 2009 and 2010 were China and India. The cost of manufacturing winter clothing in both countries will increase due to high wool prices.
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