From jumpers to slug pellets - how British wool is back in demand
British wool prices have surged by over 70% in the past year due to a smaller sheep population and reduced global stockpiles. While this helps farmers cover shearing costs, it may lead to higher prices for consumers purchasing wool products.
Why it matters
The recovery of the wool market highlights the intersection of agricultural economics, animal welfare, and consumer goods pricing.
Image source, Getty Images Image caption, An increased demand in wool has meant prices have increased more than 70% in the last year
Wales correspondent Published 2 hours ago The price of wool has increased more than 70% in the last year, helped in part by a smaller British flock of sheep and a dwindling of the global stockpile produced during the Covid-19 pandemic.
Prices reached a 10-year high earlier this year, and comes after some farmers burnt fleeces in protest against how little they were being paid.
On average, a kilogram of clean shorn wool sold for £2.54 in the most recent sale, compared with less than £1.50 a year ago.
The rising cost may not be welcomed by shoppers seeking woolly socks and jumpers this winter, but it does mean farmers are more likely to cover the cost of shearing.
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