Silk ties and handkerchiefs are forecast to rise in price after the cost of silk jumped to its highest level in at least fifteen years as rapid industrialisation in China, the world's largest supplier, robs the sector of valuable farm land.
The price of silk cocoons, the raw material for the fabric used in expensive items of clothing, has doubled since the start of 2009 to 92,700Rmb ($13,577) a tonne in mid-April, according to the China Cocoon and Silk Exchange.
European merchants and weavers said the price of raw silk, the variety traded internationally, had followed a similar trend. “It is rising every day, every week,” said Christian Morel Journel, a silk merchant in Lyon, France.
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