The United States is India’s single largest handmade carpet import market

Northern and southern New Zealand wool auction prices show downward trend. New Zealand Wool Board International Ltd (NZWSI) pointed out that as the Chinese New Year holidays, as well as the continuing turmoil in the world economy, the market seems like a still water lake. New Zealand Dollar depreciation did not stimulate the market warming.

Napier and Christchurch regions reported the total supply of 15,000 packets of wool, of which a quarter through. Lambs wool and carpet wool prices 1-2%. Fine lambswool prices fell 2.5%. In coarse-micron wool prices, hybrid fine wool prices, goods with a bad cut wool prices, wool prices have gone up broken combed 2.5%. The industry is expected next week and this week the number of the same auction.

New Zealand Wool Board Mr.TC Bilandani International Limited Chief Executive Officer said that he very much appreciate the wool market in India. He said, India for New Zealand wool is a very important market. In the past 10 years, 1300-1600, India imported 10,000 kilograms per year wool, carpet wool is mainly used for the production of handmade carpets. New Zealand wool is the best carpet wool.

He said ,2008-09 years, New Zealand wool prices is expected to decline. Decline will be as high as 30-45%. Mainly due to the devaluation of the New Zealand dollar against the U.S. dollar since July 2008, has already been devalued 26 percent, at the same time, demand falls. The United States is India’s single largest handmade carpet import market, but the U.S. economic recession, carpet (luxury products) needs to become a shopper’s shopping list on the final choice of goods, wool consumption has also been affected. He said that the carpet industry will be at least the next 12 months to reduce the procurement quantity of wool.