A review of the data released by the Australian Bureau of Statistics for January 2008 saw no changes in the declining trend of Australian wool exports measured in volume terms, while the value of wool exports kept rising.
A similar trend in wool exports appeared in the first seven months of this season. The volume of clean wool exports fell sharply year-on-year. On the other hand, the value of exported wool in the reporting period rose to A$ 1,426.1 million, up 3% compared with July 2006 - January 2007.
Export volumes of wool declined for most categories during the first seven months of the current season with the exception wool tops, which maintained the same export level as 12 months ago.
A diminishing supply of wool and rising auction wool prices in Australia are the main drivers behind the opposite trend in the volume and value of exported wool.
In the seven months ending January 2008, auction offerings of Australian wool were lower than one year earlier by 8% year-on-year. Similarly, in the same time period, AWTA tested 9% less (y-o-y) wool than in July 2006 - January 2007. In contrast, auction wool prices rose strongly influencing export earnings.
Australian Wool Innovation Limited
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