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Agriculture

Wool season ends on high

───   14:51 Fri, 12 Jun 2015

Wool season ends on high | News Article

Bloemfontein - The wool sector has ended its 2014/15 season on a high after posting year-on-year growth of more than 25%.

According to the most recent wool market report, the final sale saw the Cape Wools merino wool market indicator rise by 0.9% to close on more than R140 per kilogram, more than 25% higher than last year.

Ninety-eight percent of the bales on offer were declared sold.

The impressive results are believed to be driven by favourable exchange rates further bolstered by a peak in interest from China and Europe.

The first sale of the new season is scheduled to take place on 12 August.

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