New Zealand's raw and semi-processed wool exports for the 2006/07 season to May posted an insignificant decrease on the same period year-on-year. However, there have been significant declines in exports of greasy and carbonised wool.
About 3/4 of New Zealand's raw or semi-processed wool export is scoured wool which has remained steady or increased slightly on the same period last season.
New Zealand's exports of wool to China, its top export destination, continue to be down strongly year-on-year, but are recovering. Export volumes to Belgium and Germany (fifth and sixth largest export destinations) have also fallen strongly.
On the other hand, New Zealand's wool exports to the UK, India (the second and third largest export destination), Turkey and eastern European countries have increased for the season to May.
The value of New Zealand's wool exports is likely to have remained stable. While season-average prices of fine crossbred (31.6-35 micron) and coarse crossbred (35+ micron) wool, decreased only marginally to April, New Zealand's fine crossbred and coarse crossbred wool prices fell significantly between the start of the 2006/07 season and the end of April year-on-year.
The fall in prices is linked to the strong appreciation of the New Zealand dollar, a decrease in demand for interiors from the United States with the housing downturn, along with long-term negative price influences such as competition from synthetics.
About 3/4 of New Zealand's raw or semi-processed wool export is scoured wool which has remained steady or increased slightly on the same period last season.
New Zealand's exports of wool to China, its top export destination, continue to be down strongly year-on-year, but are recovering. Export volumes to Belgium and Germany (fifth and sixth largest export destinations) have also fallen strongly.
On the other hand, New Zealand's wool exports to the UK, India (the second and third largest export destination), Turkey and eastern European countries have increased for the season to May.
The value of New Zealand's wool exports is likely to have remained stable. While season-average prices of fine crossbred (31.6-35 micron) and coarse crossbred (35+ micron) wool, decreased only marginally to April, New Zealand's fine crossbred and coarse crossbred wool prices fell significantly between the start of the 2006/07 season and the end of April year-on-year.
The fall in prices is linked to the strong appreciation of the New Zealand dollar, a decrease in demand for interiors from the United States with the housing downturn, along with long-term negative price influences such as competition from synthetics.
