Sharp Increase in U.S. Greasy Wool Exports to $1.1M in June 2023

Sharp Increase in U.S. Greasy Wool Exports to $1.1M in June 2023

U.S. Greasy Wool Exports

In June 2023, exports of greasy wool from the United States experienced a rapid surge, reaching a value of $1.1M. Shipments abroad increased by 5% to 207 tons, marking the second consecutive month of growth after two months of decline. However, overall exports showed a slight decrease. The most significant growth was observed in January 2023, with a staggering 211% increase compared to the previous month.

The main destination for U.S. greasy wool exports was China, accounting for 75% of total exports with 155 tons. This volume far exceeded the amount sent to the second major destination, India, which received 21 tons, seven times less than China. The average monthly rate of growth for exports to China from June 2022 to June 2023 amounted to +2.9%, while exports to India and Uruguay experienced negative growth rates of -7.3% and -8.9% per month, respectively.

In terms of value, China remained the key foreign market for greasy wool exports from the United States, comprising 81% of total exports at $897K. Uruguay held the second position, with a 9.1% share of total exports, valued at $101K. From June 2022 to June 2023, the average monthly growth rate for exports to China in value terms was +6.1%, while Uruguay and India experienced negative growth rates of -9.3% and -8.8% per month, respectively.

Export Prices by Country

In June 2023, the average price of greasy wool stood at $5,353 per ton (FOB, US), representing a 20% increase compared to the previous month. The export price exhibited a relatively flat trend pattern, with the most significant growth occurring in January 2023, when the average export price surged by 47%. China had the highest average price at $5,790 per ton, while India had one of the lowest at $3,153 per ton.

During the period from June 2022 to June 2023, the highest price growth rate was recorded for exports to Egypt, at +7.6%. Prices for other major destinations experienced more modest growth rates.



Source: IndexBox Market Intelligence Platform

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