Value of wool exports increases y-o-y since Sept 2006

15 Jun '07

2 min read

An increase in value and volume of Australian raw wool exports (all wool except sheepskins) in March were consistent with general trends seen in December and January, but not for February where increases in both value and volume were more dramatic.

The value of Australian wool exports has increased year-on-year since September 2006, after a mixed period in 2006 and continuous declines in 2005.

The strong increase in the value of Australian wool exports in March year-on-year and for the 2006/07 season to March can be explained by large increases in Australian wool auction prices year-on-year.

February prices are an indicator of March export values as export shipment preparation takes about a month. Average prices in February, as measured by the Eastern Market Indicator, rose by 23% year-on-year - very close to the increase in the value of raw wool exports.

In the 19 micron and finer wool category, the value and volume of Australian raw wool exports rose more than in the other micron categories.

The top five export destinations by volume (and by value) for the 2006/07 season to the end of March 2007 were China, Italy, India, Taiwan, and the Czech Republic. China's market share has increased at the expense of most other significant export destinations, although India is a notable exception.

Australian Wool Innovation Limited

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