Latest Wool Trading News - May 2021

NZ Woolscourer transits away from coal to electricity with 6.6 million investment

WoolWorks New Zealand Limited, (formerly known as New Zealand Woolscouring Ltd), will invest $2.79 million in a world-first decarbonisation at its scouring plant at their Canterbury Woolscours site. New Zealand’s leading wool scourer, WoolWorks New Zealand Limited, has welcomed approval of co-funding to accelerate replacing coal with electricity, in what is a world-leading initiative for early stage wool proce... Read More

Join online 17-21 May for the IWTO Congress

The annual IWTO Congress is a highlight of the global wool textile industry calendar. For 2021 we offer you a fully digital series of presentations and discussion, over the course of five days and spanning global time zones. From what’s driving wool sustainability to the latest market statistics, there’s plenty of wool talk to go around. We’ll hear from some of the world’s leading wool professionals and experts. ... Read More

Credit squeeze and shipping delays for Aust wool

Australian wool exporters face credit squeeze as shipping delays add up to 40 days on to export times to China and Europe. Wool exporters are the latest casualty in the worldwide delays affecting the shipping industry. A bottleneck at both Australian ports and in Singapore has meant that wool is taking up to 90 days to get to Europe, which is 40 days more than usual, and an extra 10 days to get to China. Dubbo-ba... Read More

Australian Wool Sale Report – Commentary from AWI (22 April 2021)

Large rises on all Super Fine Merino types produced positive sentiment at this week’s Australian wool auctions. At the finest end of the Merino type spectrum, gains of 50ac and above were achieved throughout selling with the interest and competition in this area intense. Other areas of the Merino fleece type enjoyed smaller price advances not just due to the positive atmosphere created, but also steady enquiry and s... Read More

NZ Wool market Report (22 April 2021)

Market generally firm. South Island only offering 9,645 bales.  The selection consisted of 40% crossbred fleece, mainly average style 3/5″, 4/6″,  25% lambs mainly good to average style, 15% early shorn/second shear bulk 3″ good style, 15% oddments average/inferior style and 5% miscellaneous types.  Main buying from Europe & Sub-Continent with support from Australasian mills & China. Fleece: In a limited selec... Read More

Government makes moves to back New Zealand’s wool products

NZ Cavalier Corporation Ltd announced to the NZX that its Bremworth carpet business had secured a $1.9 million grant as part of Ministry for Primary Industries’ Sustainable Food and Fibre Futures (SFFF) programme. The grant will be used by the company to help co-fund its $4.9 million research programme to support the development of a science-based and environmentally sustainable approach to natural interior produ... Read More

Big fashion companies lag behind on green targets

The 15 largest listed fashion companies are lagging behind when it comes to meeting the social and environmental targets of the Paris climate agreement and UN Sustainable Development Goals, a new report by the Business of Fashion said. The Business of Fashion, an online publication about the fashion industry, analysed in its report publicly disclosed information from the five biggest companies by revenue in three... Read More

Uzbekistan joins EU’S GSP+ arrangement

Uzbekistan has gained privileges for duty-free exports to the EU through GSP Plus scheme. It came into force on April 10, the Ministry of Investment and Trade reported. Accession to the GSP+ grants Uzbekistan the opportunity to export more than 6,200 commodity items to the EU countries duty-free. It also reflects the recognition of reforms undertaken by the government, in particular to improve the business climat... Read More

US Retail sales rebounded strongly in March

Retail sales rebounded with huge gains in March as government checks fattened consumers’ bank accounts and more vaccination against COVID-19 made it easier for shoppers to get out of the house and lead the acceleration of the U.S. economy, the National Retail Federation said today.“The dramatic increase of nearly 18 percent in March retail sales over the same period last year confirms that a confident consumer is dr... Read More

IMF sees stronger global growth as some COVID clouds begin to clear

The International Monetary Fund said unprecedented public spending to fight the COVID-19 pandemic, primarily by the United States, would push global growth to 6% this year, a rate unseen since the 1970s. The IMF raised its 2021 growth forecast from 5.5% less than three months ago, reflecting a rapidly brightening outlook for the U.S. economy, which the IMF now sees growing by 6.4% in 2021 — the fastest since the ... Read More

Mohair Market Report (Catalogue: 202104)

The fourth sale of the 2021 summer season took place in Port Elizabeth on 13 April 2021, with 173 039 kg on offer of which 97% was sold. The offering consisted of good quality mohair, with a highest price of R910 p/kg paid for a bale of 23 micron super style kid mohair. The competition amongst the buying houses were strong throughout the day as the demand for mohair remains consistently strong.  RMS certified moh... Read More

Wool partners with other natural fibres

Natural fibres such as cotton and wool offer many solutions to the world’s current environmental challenges, but risk being misrepresented by sustainability ratings, the International Wool Textile Organisation (IWTO) told the representatives of the cotton industry at its Bremen Cotton Conference in late March. More than 450 participants from 32 countries attended the conference, which brings together cotton and o... Read More

Global garment makers demand better terms

Garment makers in nine countries spanning Asia, the Middle East and North Africa have banded together to demand better contract terms from global clothing retailers, according to a draft document seen by Reuters. The suppliers hope their united front will prevent retailers from playing them off against each other in search of more lenient terms after suffering from widespread cancellations and payment delays at t... Read More

John Lewis to permanently close eight more shops

John Lewis has said it will not reopen eight of its stores once lockdown eases, putting 1,465 jobs at risk. The retail giant said some locations could not sustain a large store. Four “At Home” shops in Ashford, Tunbridge Wells, Basingstoke, and Chester will close – as well as department stores in Aberdeen, Peterborough, Sheffield and York. John Lewis said the eight shops were “financially challenged prior to t... Read More