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Australian wool exports up

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Data from the Australian Bureau of Statistics on Australian wool exports for February shows that the volume of wool exports declined by 10% in February, but the value of exports lifted by 1% for the month compared with a year earlier.
For the 2016/17 season to date, Australia’s wool exports were 6% higher by weight and 12% higher by value than for the same period in the 2015/16 season. The main reason for the increase in weight terms is a 13% increase in exports to China.

 

In terms of exports by micron category, there is a clear split between the results for Merino wool (19 micron & finer and 20-23 micron) and Crossbred-type wool (24-27 micron and 28 micron & broader). The value of exports for both 19 micron & finer and 20-23 micron wool has lifted this season, led by a 27% increase in the value of exports of 20-23 micron wool.

 

The value of exports of 20-23 micron wool is at the highest level since the 2006/07 season. Despite the 4% drop in the volume of exports of 19 micron & finer wool, the value of exports of this wool has increased by 6% and is at the highest ever recorded for the July to February period. In contrast to this strong lift in exports for Merino wool, the value of exports of 24-27 micron and 28 micron & broader wool has fallen sharply this season – down by 28% and 43% respectively to the lowest level for the July to February period since the 2003/04 season.

 

Source: Australian Bureau of Statistics

 

 

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