Business
British wool prices increase as global demand rises
Gareth Jones, from British Wool said the price boom came down to supply and demand.
“There are less sheep in Wales, less sheep in the UK, producing less wool and if we look at a comparable market like New Zealand, there are less sheep there.
“They also had a carry-over of wool since Covid – that’s cleared in the last two years,” he added.
Despite less wool being available global interest in using the product has seen a resurgence.
“It is in demand worldwide,” Jones said.
“China is an important market for us, we also have a bedding manufacturer in South Korea, and we have some licensees in Japan.”
As the rising costs in fuel and fertiliser continues to be a challenge for many farmers, making money back from wool comes as a welcome relief to some.
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