New Zealand says its wool market has turned the corner
16/02/2010
The wool exporters’ council of New Zealand has said it expects demand for coarse wool to remain strong and prices to rise over the coming months.
The increases will mean more money has started to flow back into farmers pockets, with auction prices pushing ahead of the strong and volatile New Zealand dollar. The recent surge in demand had enabled wool prices to break free from currency effect.
Peter Crone from one wool exporter, John Marshall & Co, has said in a statement that big mills in Italy, the UK and other parts of Europe had used up their stocks and a recent surge in demand had seen them come back strongly into the market.
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