Shift in wool price long overdue
"Wool producers can expect an increase in their wool cheques this year, with the demand for wool at the BWMB’s auctions being very strong in recent months leading to a dramatic increase in price. At the end of last year the price indicator was around 75p per kilo, but due to a limited supply being available the indicator in recent weeks has reached 113p per kilo, the highest this has been for 15 years," said Gareth Jones, Producer Relations Manager for the British Wool Marketing Board (BWMB) at a recent Monmouthshire NFU Cymru county meeting.
Mr Jones said, "The economic downturn and credit crunch did have an impact on wool price and demand – with a 30 per cent decline in the carpet industry alone. The environmental benefits of wool, are however being promoted heavily by the Board throughout the World. There is a huge potential for wool, with the American market showing increased interest.
"It is vital we promote wool in the best possible way and raise awareness amongst manufacturers to encourage more use of British wool in their products. In order for us to continue this work, as well as control our costs, it is vital we get the support of all producers. Every kilo of wool is vital, in order for us to have as much wool as possible available to sell through the auction system, this will be to the benefit of all producers."
Farmers present at the meeting raised concern that wool has long been undervalued by the general public and that more should be done by the Board, in terms of marketing the product as an environmentally friendly material.
In response to their concerns Mr Jones said, "Wool is starting to get recognised for its qualities. It is natural, long lasting and bio-degradable. We hope, through various initiatives such as the ’Wool Project’ being led by HRH Prince Charles to translate this information to consumers."
Monmouthshire NFU Cymru County Chairman Alan Williams said, "It is no surprise to see that there is pressure on supplies of wool available to the BWMB. Such pressure has resulted in the Board having to cancel two of its sales. Farmers have reduced sheep numbers for various reasons and the cost of shearing sheep over recent years has far outweighed the return for the product. The recent shift in wool price is simply long overdue."
Mr Jones ended, "We firmly believe that wool sold outside of the Board auction system at lower prices simply reduces the value of wool to all producers. There is demand for the product and as consumers are becoming more familiar with the environmental and the green agenda - there is huge potential for wool and the time is right for wool. We do however need commitment from producers to support the Board so that we can promote, market and sell your wool in order to achieve the best possible price."
