Average wool price up by 22p kilo

The British Wool Marketing Board (BWMB) has announced an increase in wool payments for producers.

The average clip value has increased for the fourth consecutive year by 22p per kg to £1.24ppkg for 2011 season. According to the BWMB wool auction prices have risen over the last couple of years due to strong global demand particularly from China. It is hoped these prices will be maintained for the 2012 season although there has been slower growth in China in recent months.