Sale of branded sweaters has lowered this winter with each unit priced at 500-600 yuan. This is around 50 to 80 yuan higher compared to the same period of last year. The rate of wool has grown to 40 percent more this year.
Growing wool prices led to fewer purchases from sweater manufacturers which in turn has affected the output, further leading to higher factory prices. Low imports of wool from Australia and New Zealand has mainly caused the rise in prices of wool.
The woolen textile industry of China imports 75 percent of the required wool, mainly from Australia. The global wool price has increased in recent years.
The statistics from the National Economy and Trade Commission show that this year, the country imported 20 percent less wool compared to last year with prices nearly 25 percent higher.
However, presently it is observed that the domestic market price of wool has become steady and further expectations are that rates will not drop any further.
Fibre2fashion News Desk - China
marketing@alchempro.com
