Wool exports from Australia surged in April according to data from the Australian Bureau of Statistics which was released yesterday. The volume of wool exported was 22% higher in April compared with April 2016 and the value of exports surged by 50% year-on-year. By destination country, the big increases in the volume of exports were seen for China (+25%), Italy (+110%), Taiwan (+39%) and Thailand (+480%). Exports to Malaysia recorded a sharp decline of 69%, but this was one of the few countries to see a fall in exports.
The increase in May has pushed the exports for the season to date much higher, continuing the trend seen since August 2016. The trends in the export value are the best guide to the strength of demand. The value of exports in both A$ and US$ has risen strongly. Of note is the rise in the export value in A$ terms. In the 12 months to April 2017, it reached the highest 12-month total in 14 years (July 2003).
Full details including a chart showing the long-term trends in the volume and value (in both A$ and US$) of wool exports from Australia, on a 12-month moving aggregate basis, is included in the NCWSBA Weekly Newsletter for the week ending 9th June 2017. Available to NCWSBA members.
