Demand for British Wool is Unravelling
December 8, 2017
It is in the finest carpets, it is in Harris Tweed, and now you’ll even find it in top-of-the-range beds; but at £1 a kilo, United Kingdom wool hasn’t been this cheap in seven years.
Only 14 months ago, it was worth 30 percent more. So why is wool coming down in price and how come the cost of that soft woollen jumper isn’t coming down as well?
According to Jo Dawson, who has spent 20 years in the wool trade, there are a number of reasons which have combined over time. Since sheep make wool come what may, if wool demand drops, prices can suffer quickly if fleeces go unsold.
Yet what might put unbearable strain on any other industry, forcing producers out of business and lifting prices, is manageable in British sheep farming. That’s because UK sheep are largely reared for meat – wool is now considered a by-product.
Read the full story at http://www.bbc.com/news/business-42229842.
Source: BBC News