The latest data on Australia’s wool exports show that the volume of exports lifted in January compared with a year earlier. This is the first year-on-year monthly increase seen this season. All of the top ten export destinations recorded an increase, with the exception of India which saw a 5% decline in exports. For the 2018/19 season to January, the volume of exports from Australia was down by 15.4%, but the value of exports was 4.3% higher. There are some significant differences between the exports by micron category.
There has been a 50% increase in the value of exports of 19 micron and finer wool. This is in part due to a 23% increase in the volume exported, which reflects the increase in production of this wool as a result of the drought. However, the much larger lift in the value of exports of this wool demonstrates clearly that there has been an increase in demand for this wool this season. As expected, other micron ranges have seen declines in the volume of exports. The value of exports of 20-23 micron wool is essentially steady, suggesting that demand has been maintained. In contrast, the value of exports of 24-27 micron wool has increased by 27%, pointing to stronger demand this season.
Further details, including a chart showing the exports by micron category for 2018/19 to January compared with 2017/18 and 2016/17, is included in the full edition of this week’s NCWSBA Weekly Newsletter. Available to NCWSBA members.