Australia Wool Export Prices Experience Slight Decline, Reaching $7,799 per Ton

Australia Wool Export Prices Experience Slight Decline, Reaching $7,799 per Ton

In May 2023, the wool price in Australia reached $7,799 per ton (FOB, Australia), showing a decrease of -6.4% compared to the previous month. Despite this decline, the overall trend in export prices remained relatively stable. The most significant growth in export price occurred in June 2022, with a monthly increase of 9.3%. However, from February to May 2023, the prices stayed at a slightly lower level. The United Arab Emirates had the highest wool price at $13,051 per ton, while China had one of the lowest prices at $3,024 per ton. The export prices to India experienced the most notable growth of 0.9% from May 2022 to May 2023, whereas other major destinations saw more modest increases. Regarding the types of exported products, the highest-priced product in May 2023 was wool (not carded or combed), degreased, shorn, at $9,641 per ton, while the average price for wool (not carded or combed), carbonised was $7,161 per ton. During May 2023, Australian wool exports decreased by -18.2% to 1K tons, marking the second consecutive month of decline after two months of growth. The value of wool exports also dropped significantly to $7.8M in May 2023. Wool (not carded or combed), carbonised accounted for the largest share of total exports at 74%, surpassing the volume of the second largest product, wool (not carded or combed), degreased, shorn, by three times. South Korea was the primary destination for wool exports from Australia, receiving 37% of total exports, followed by Italy and Thailand. From May 2022 to May 2023, the average monthly growth rate of exports to South Korea stood at -3.5%. South Korea also emerged as the top market in terms of value, comprising 32% of total exports, followed by Italy and Thailand. The average monthly growth rate of value to South Korea during the same period was -5.8%.

Source: IndexBox Market Intelligence Platform

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