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Fall In Chinese Wool Buying |
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2003-11-10
Due to the the strong rise in the dollar the Chinese are buying about half as much wool as they did at this time last year.
Changes in demand and structural changes in the global industry
coupled with the sudden rises in Australasian currencies – are posing increasing challenges for the wool industry.
Peter Whiteman, managing director of exporter Masurel Fils, who has just returned from Europe, says some sectors there are in dire shape. Makers of the finest worsted materials are in real trouble, from top makers to weavers.
"There is little demand for their materials. They are being slaughtered in the market by the East Europeans and the Chinese who can produce it much more cheaply."
Mr Whiteman said two or three years ago these people didn''t have the technology, and couldn''t match the quality of the West Europeans. Since then they had made enormous advances. "While they still can''t match the very best of the best, they can compete with the bulk of the European production."
There were also major changes under way in European carpet making. The Europeans can no longer produce carpets economically using the long fleece wools needed for semi-worsted carpets. Carpets in this style are no longer in vogue.
Mr Whiteman said this would have ramifications for New Zealand, which is a major producer of this type of wool.
"However, the Europeans could still make blended woolen carpets from New Zealand''s shorter wools extremely efficiently. They remain world leaders re-exporting this type of wall to wall carpet and rugs to the US from the UK, Italy, Belgium and Germany. The outlook for this part of the market is okay."
Mr Whiteman said the demand for longer staple carpet wools was only a problem in Europe. This type of wool was still sought by Nepal, Iran and manufacturers in Australia and New Zealand.
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