Tuesday, February 18, 2025
spot_img
spot_imgspot_img
HomeTechnologyTextile Raw MaterialGlobal Wool market to push Australia’s wool demand

Global Wool market to push Australia’s wool demand

woolRobobank, an agricultural banking specialist, predicts that recovering global demand and garment sales will push Australia’s wool price benchmark up to 1600c/kg clean in the coming year. According to Dennis Voznesenski, an analyst, demand indicators for wool are strong practically everywhere. He believes that the 9.2% increase in US retail garment sales in April prompted a recovery in wool prices. While wool prices have not reached seven-year highs like some other soft commodities, the Eastern Market Indicator (EMI) is 27 percent higher than it was at the start of the year and has lately broken above the 1,400-cent threshold for the first time in over a year, according to Voznesenski. He adds that super-fine wool micron prices have surpassed coarser wool micron prices, as well as prices from early 2020, with 17 micron wools climbing by 88 percent from last year’s September low. Over the same time span, the price of 20 micron wool has climbed by 62%. Voznesenski adds. Improved garment sales in major end markets, particularly knitwear and the close-to-skin sectors, as well as an improvement in processor mood, are driving growth.

YOU MAY ALSO LIKE
- Advertisement - spot_img

Join Our Weekly Newsletter

spot_img

Upcoming Events

 

Simillar News

Recent Random

Bangladesh RMG exports have experienced moderate growth, with the EU continuing to be a pivotal market

As the Export Promotion Bureau (EPB) recently published the country-wise export data for the July-January period of the fiscal year 2024-25, it is evident...

GMS Composite Knitting Ind. Ltd.” and “GMS Trims Ltd achieves LEED Certification

GMS Composite Knitting Ind. Ltd. has achieved the prestigious LEED Platinum certification with an outstanding score of 92 points, making it the highest in...

The 15th PURBANI Inter Club Tennis Tournament 2025 held

The 15th PURBANI Inter Club Tennis Tournament 2025 organized in collaboration with Gulshan Club Limited (GCL), successfully concluded on February 15, 2025 at the...