Indian recycled wool down 11.4% to $4.26/kg in last one year

The recycled wool (Noils) was trading at $4.81 per kg in the Indian domestic market during January-March 2023. It then declined by 4.78 per cent to $4.58 per kg in the subsequent quarter. However, there was a slight recovery of 4.15 per cent, bringing the price to $4.77 per kg in July-September 2023, according to Fibre2Fashion's market insight tool TexPro.

Despite this brief improvement, recycled wool prices continued to fall, decreasing by 4.61 per cent to $4.55 per kg in October-December 2023 and then by a further 6.37 per cent to $4.26 per kg in the first quarter of this year. The price decreased by 11.43 per cent from the first quarter of the previous year.

Similarly, the FOB price of recycled wool at Indian ports has mirrored this trend. It started at $5 per kg in the first quarter of the previous year, fell by 4.80 per cent to $4.76 per kg in the second quarter, but then rose by 4.20 per cent to $4.96 per kg in the third quarter. However, it decreased again by 4.44 per cent to $4.74 per kg in the final quarter of the last year, and then by 6.54 per cent to $4.43 per kg in January-March 2024, resulting in an overall decline of 11.40 per cent over the past year, as per TexPro.

ALCHEMPro News Desk (KUL)