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WOOL TRADING NEWS - July 2009 |
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AUSTRALIAN WOOL MARKET REVIEW (26 June 2009 )
The Australian wool market finished 0.4% higher, on average, at the last sales for 2008/09 in Sydney, Melbourne and Fremantle this week. The AWEX EMI rose by 2˘ (+0.3%), ending the week at 777˘/kg. This reflected rises of 2˘ (+0.3%) in the North and 4˘ (+0.5%) in the South, with their corresponding Regional Indicators finishing the week at 798˘ and 761˘ clean, respectively. The Western Indicator rose by 2˘ (+0.3%) since the last sale two weeks ago, finishing the week at
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Price premium for NZ organic wools
New Zealand wool growers have an opportunity to benefit from increasing demand for organically grown wool in the United States. Wool Partners International CEO Iain Abercrombie says the company’s export arm, Bloch & Behrens, has been working with organic wool growers for two years and has now
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IWTO Congress 2009
Following the annual Congress of the International Wool Textile Organisation (IWTO) held in Frankfurt from June 16th to 18th, IWTO President Guenther Beier issued a statement praising growers and industrialists throughout the wool pipeline for commitments made at the congress to product marketing and ecological
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Volume of wool tested at AWTA falls
The monthly comparisons of Total Lots, Bales and Weight for May 2009 compared with the same period last season are -6.4%, -9.7% and -10.2% respectively. The progressive comparisons of Total Lots, Bales and Weight for the period July 2008 – May 2009 compared with the same period last season are
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Smaller Australian clip leads to review of selling centres
The shrinking Australian clip and the need to cut costs have seen a review of selling arrangements. Currently Australian wool auctions are held in three main centres - Melbourne Sydney and Fremantle, and two smaller centres - Launceston and Newcastle.A report on savings that could be made with a more
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You are invited to Nanjing Wool Market Conference
2009 Nanjing Wool Market Conference will be held in Nanjing on 9th – 11th September and you are invited to attend. The annual Nanjing Wool Market Conference is the major conference for wool and the early wool processing industry in China that is attended by executives of all major wool buying and processing companies in China. It is a key event in the China wool calendar. This Conference will be held in Nanjing at
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Record drop for Chinese export
May saw a record drop in Chinese exports as demand for its goods from the US and Europe slumped. Exports fell 26.4% from the same month earlier, more than February's previous record drop. The world downturn has affected China, and its imports have also declined, dropping by 25.2% in May. As a result, China's trade surplus
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ITMA Asia + CITME 2010 Shanghai
ITMA Asia + CITME textile machinery exhibition will be held June 22-26, 2010, at the Shanghai New International Expo Centre in Shanghai's Pudong district. Bookings for exhibition Space is now open. According to show organizers Beijing Textile Machinery International Exhibition Co. Ltd. and Singapore-based MP International Pte. Ltd., the exhibition is expected to draw a record response, despite the current
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Scottish yarn business bought by Chinese firm
Scottish textile firm Dawson International Plc has agreed to sell its Todd & Duncan business cashmere yarn spinning business to one of its Chinese suppliers, seven months after discussions began. Fibre firm Ningxia Zhongyin Cashmere Company Limited is paying GBP13.5m (US$21.9m) for the business, its assets and stock, which will be renamed
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AWTA Wool Testing Fees to Increase
AWTA Ltd has announced that there would be an average increase of 3.5% in wool testing fees for the forthcoming wool selling season, effective from the 1st July 2009. The amount of wool tested in Australia has declined by 10% over the past year and the Australian Wool Production Committee has predicted a further
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Industrial output on the rise in India
India's industrial output rose unexpectedly in April, driven by a rise in domestic demand, fuelling hopes that a recovery may be in sight. The output rose 1.4% from a year earlier, after a 0.8% fall in March, and better than a forecast fall of 0.2%. Before the April rise, industrial output had fallen in three of the four previous
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Huntsman Develops New Leveling Agent
Switzerland-based Huntsman Textile Effects -- a manufacturer of chemicals and dyes for finished textiles and materials, and a division of Huntsman Corp. -- has developed a leveling agent called Albatex® DBS
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China Calls to replace USD as main trading currency
China's central bank has reiterated its call for a new reserve currency to replace the US dollar. The report from the People's Bank of China (PBOC) said a "super-sovereign" currency should take its place. Central bank chief Zhou Xiaochuan has loudly led calls for the dollar to be replaced during the financial crisis. The bank report called for
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Huntsman buy India’s Baroda textile chemical unit
Dyes and chemicals maker Huntsman is to buy the Baroda division of Metrochem Industries, a manufacturing facility that makes intermediates and specialty products for textiles. The unit, which is based in Baroda, India has more than 700 employees and contractors, and annual sales of
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India’s Chamber of Commerce calls for skills training
The Federation of Indian Chamber of Commerce and Industries (FICCI) has urged the Indian government to introduce more skills training for workers in the textiles and garments sector and raise duty drawback rates if it wants to avert a crisis in the sector. At a meeting with the country's textiles minister Dayanidhi Maran in June, the FICCI also called for cheap export credit and exemption from income tax on garment export
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US retail sales rise 0.5% in May
Retail sales in the US are growing after two months of decline. The Commerce Department said sales in May rose 0.5% from the same period last year. The drop in April was revised lower, to 0.2% from 0.4%. Much of the increase was driven by sales at petrol stations, which in part reflects higher gasoline prices as oil has increased. The May increase, following two months of declines, could add to signs that the worst of the recession
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Pakistan's govt pledges Export Support Fund
Pakistan's government has pledged to set up a PKR40bn (US$500m) Export Investment Support Fund to help boost the country's textile export earnings as part of the federal budget for 2009-10. In addition, PKR500m (US$6.2m) has been earmarked for the 3% interest rate subsidy to the textile industry
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Vietnam’s textile and garment exports fall 4.7%
Textile and garment exports from Vietnam have fallen by 4.7% to US$4.08bn in the first half of 2009, according to figures released by the Vietnam Textile and Garment Association (Vitas). The decline in the value of the country's exports is attributed to a 15% drop in the export price of Vietnamese products during
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