Industry And Cluster | News & Insights

Wool prices are rising as buyers diversify their purchasing power

Published: June 18, 2021
Author: Manali bhanushali
According to the Australian Wool Exchange, the Australian wool market continued to rise this week, with overall rises for the fifth time in a row. The increases were appreciated by all Merino kinds and descriptions, according to AWEX, over the whole micron spectrum. Western MPGs were much higher, rising between 94 and 132 cents, although average price increases of 60 to 120 cents were also seen.
At the Fremantle wool auction, prices increased from 60 to 120 cents. According to AWEX, overall price increases of 60 to 120 cents were realised, with wool finer than 18 micron being the most affected. This will be the final auction of the current season and the fiscal year 2020/21. The April ABS export statistics confirmed anecdotal indications of increased competitiveness, said AWI trade expert Scott Carmody.
For the month of April, India imported over 1.2 million kgs of greasy wool, a 623 percent increase over April 2020. In comparison to previous April, the Czech Republic increased its imports by 519 percent to 640,000 kg in April 2021. The Merino fleece and skirting sectors were controlled by local merchants and top manufacturers, as overseas indents and dealers were sometimes pushed to the side owing to the expanding market.

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