The global wool market virtually froze in the spring due to the coronavirus pandemic. This only culminated in the longer-term problems of wool producers. Demand for this commodity has been declining continuously since World War II.
The current accumulation of “wool stocks” has reduced the price per kilo of raw materials by about a third year-on-year, the BBC server warned. In the UK alone, 14 million kilograms of raw material are currently in storage. Farmers say the current situation is very critical for them, as most stored wool will rot.
However, experts also point out that the pandemic alone did not cause the crisis that sheep wool producers are currently going through. COVID-19 is just the highlight. The decline of the wool market and its reduction in traditional markets, which include the Commonwealth countries, are also caused by the ever-increasing use of synthetic fibers, Brexit or the trade war between the USA and China.
At the same time, wool processors had completely different expectations. “Everywhere we hear microplastics destroying nature and getting into food or clothing. That’s why I hope sheep’s wool will find its way back to consumers,” Andrea Meanwell, who owns a farm in Yorkshire, England, told the BBC.
However, a new type of coronavirus is still rampant in the world, with Great Birtania being the tenth most affected country in the world. In total, almost 300,000 people became infected with COVID-19 and almost 50,000 people died as a result of the disease.