URGENT NOTICE: SOUTH AFRICAN WOOL & MOHAIR BUYERS' ASSOCIATION NPC and WOOL & MOHAIR EXCHANGE OF SA
Wool Trade Communique re CAT 14 of 5 December 2019
It was agreed, at a joint meeting of the Brokers’ Association and SAWAMBA held today, that the sale of CAT 14 will be postponed until 9 January 2020 for the following reasons:
• The FMD situation and the Time/Temperature requirements has resulted in a growing shipping backlog which has led to restrictions of available vessels.
• The Chinese New Year falling on 25 January 2020 and the Chinese Mills not being able to receive wool after 20 January has exacerbated the situation.
• The extra time required before wool can be shipped will negatively impact auction prices as the buyers will have to finance their wool purchases for a longer period.
• These challenges have highlighted the impact of 1 bale lines on the industry. A solution has to be found for this problem.
Both the Brokers’ Association and SAWAMBA believe that the decision to postpone the sale of CAT 14 is in the best interests of the wool industry as a whole.
Issued by SAWAMBA on 25 November 2019
On behalf of:
SAWAMBA & the Wool & Mohair Brokers’ Association