Farming News - Boom in wool prices may not last
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Boom in wool prices may not last
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Successful promotion has seen demand and prices increase, favourable export conditions and advertising in the UK which promotes wool’s green credentials have secured some success for the industry. However, Mr Hartley said the boom in wool may not last.
He said that, whilst strong demand from China, India and other global markets may be supporting the wool market, in the USA Europe consumers are ever more conscious of price, meaning markets are “less buoyant”.
Hartley commented, “The increase in wool prices is hitting our major market segments, such as carpets, and there is a move by some manufacturers and stores to reduce the amount of wool and increase the amount of synthetics in carpets.”