New Zealand carpet wools have hit a rough patch at auction and are failing to respond to the big rise in oil prices. Past oil booms have been rapidly translated into higher returns for New Zealand carpet wools as they have driven up the price for rival synthetic carpets that are made from petroleum-based products. Peter Whiteman of exporter Masurel Fils said that the price of New Zealand stronger wools should be rising as manufacturers switched from using synthetic to wool in their carpets.
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