Global raw wool exports from the major wool exporting countries have increased by eight per cent in the 2017/18 season, according to the latest data from the Australian Bureau of Statistics.
The rise was led by a 22pc increase in exports from Uruguay, and a 19pc increase in exports from New Zealand, both of which have rebounded from a sharp decline in 2016/17.
Australia also saw a rise in its export numbers, up five pc on the previous season, measured from July to May.
Argentinian exports rose by two pc, and exports from South Africa were one pc higher.
Exports from Australia, New Zealand and Argentina are still not up to the highs of 2014/16, while exports from South Africa have not surpassed 2016/17, and Uruguay is still behind its 2013/14 levels.
Australian exports are sitting at about 315 million kilograms greasy, while New Zealand exported about 120 million kg, and Argentina, South Africa and Uruguay exported just under 50 million kg each.
The research also found that there had been broad-based improvement in demand for raw wool from many of the major wool processing countries.
While imports by China lifted by 11pc, there was also significant improvement by Czech Republic, up 11pc, and other countries such as the United Kingdom, Bulgaria, Egypt and Malaysia.
China’s import levels are still below levels seen in the 2014/15 season.
After lagging for the first six to eight months, India’s raw wool demand and imports lifted sharply in recent months.
For the 11 months to May, Indian imports were two pc higher than the same period in 2016/17.
National Council of Wool Selling Brokers of Australia (NCWSBA) executive director Chris Wilcox said this broad-based improvement in demand for raw wool has without doubt been the major contributor to the increase for the price of wool, in particular Merino wool.
The Australian wool market is currently in recess, with sales to resume in the week beginning August 6.
