Himfr.com Analyzes Cashmere Industry Market Trend
Posted on: Friday, 24 April 2009, 09:00 CDT
Outlook 2009, cashmere market will have favorable factors and negative factors, and opportunities and challenges both exist.
Comprehensive analysis shows that the current cashmere market downturn has unfavorable factors in the following areas:
First, consumer pessimism about the world economy is expected to result in reduced international demand. In 2009, global economic growth will slow down, the research institutions continue to reduce the projections of economic growth this year. The International Monetary Fund (IMF) expects global economic growth this year to fall from 1 to 1.5 percent; pessimistic economic expectations dealt a heavy blow to consumer confidence.
Reduced consumption in
Second is the imbalance between supply and demand. Last year, the cashmere market downturn and reduced demand on the international market resulted in difficulties in enterprise sales of cashmere and cashmere inventory increase.
Even taking into account the new production from the original cashmere, prices were likely to be reduced. With the old and the new overlay, this year's supply of cashmere is still significantly more than in previous years.
Third, exchange rate instability caused export difficulties. At present, although the rate of the yuan against the U.S. dollar has stabilized, the Euro and South Korean Won have appreciated too rapidly and become volatile.
All in all, in the present situation, the cashmere market will still continue its downward trend.
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