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Wool exports key currency earner
14 Dec '07
2 min read
Wool is now Australia's second largest agricultural export according to the 2007 Australian Commodity Statistics, released in December by the Australian Bureau of Agricultural and Resource Economics (ABARE).
Combined with the Eastern Market Indicator also finishing the year at over 1,000c/kg, there is much to be positive about the Australian wool industry said WoolProducers Australia President Don Hamblin.
“In the ABARE commodities report for 2006/07, wool has really been the standout performer,” said Mr Hamblin. “The total exports of wool for the period were $3.07 billion, overtaking wine, dairy and wheat for the year.”
“This represents an increase of $525 million from the previous year, defying both the drought and the high Australian dollar.”
“There is a very clear message here for growers - there is still value in merinos.”
Mr Hamblin believes that while some of the current interest in wool can be attributed to the international fashion cycle, he believes there is a return to an underlying interest in Australian merino wool.
“Our Northern Hemisphere customers have a growing awareness of climate change and are conscious of purchasing natural and environmentally sustainable products,” Mr Hamblin said.
“Australian wool is ideally placed to meet this market, being renewable, biodegradable and with performance attributes that still cannot be replicated by our synthetic rivals.”
However, the challenge for the industry is now to consolidate on these gains, said Mr Hamblin.
“During the period ABARE are reporting on, the market did benefit from high prices drawing a lot of wool out of storage, which helped boost supply.”
“As the national flock begins to rebuild, the challenge for the industry will be to meet demand over coming years - but the right market signals are definitely there for the merino when growers are making their joining decisions.”
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Combined with the Eastern Market Indicator also finishing the year at over 1,000c/kg, there is much to be positive about the Australian wool industry said WoolProducers Australia President Don Hamblin.
“In the ABARE commodities report for 2006/07, wool has really been the standout performer,” said Mr Hamblin. “The total exports of wool for the period were $3.07 billion, overtaking wine, dairy and wheat for the year.”
“This represents an increase of $525 million from the previous year, defying both the drought and the high Australian dollar.”
“There is a very clear message here for growers - there is still value in merinos.”
Mr Hamblin believes that while some of the current interest in wool can be attributed to the international fashion cycle, he believes there is a return to an underlying interest in Australian merino wool.
“Our Northern Hemisphere customers have a growing awareness of climate change and are conscious of purchasing natural and environmentally sustainable products,” Mr Hamblin said.
“Australian wool is ideally placed to meet this market, being renewable, biodegradable and with performance attributes that still cannot be replicated by our synthetic rivals.”
However, the challenge for the industry is now to consolidate on these gains, said Mr Hamblin.
“During the period ABARE are reporting on, the market did benefit from high prices drawing a lot of wool out of storage, which helped boost supply.”
“As the national flock begins to rebuild, the challenge for the industry will be to meet demand over coming years - but the right market signals are definitely there for the merino when growers are making their joining decisions.”
Click here to view more:
WoolProducers Australia Ltd
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