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Strong demand from China for Australian wool  in 2016/17 saw higher exports with higher prices Rural Bank's 2016/17 Australian Agriculture Trade Performance report showed.

Australia Wool Exports

Australia Wool Export Highlights

  • "High prices and favourable seasonal conditions in 2016/17 contributed to a 5.3% increase in  wool production and a 14% increase in the value of wool exports." 
  • "Demand looks likely to remain strong, particularly for fine wools, providing support for prices and further encouraging growth in production from an expanding national flock." 

Rural Bank believes this should lead to another year of increased export value and volume.

Rural Bank said Australia's agricultural exports rose by $3.9 billion to almost $50 billion in the last financial year, mainly because of a bumper year for grain and fibre. Cotton production in Australia is expected to lift slightly in 2017/18, further boosting exports.

Source: AUSTRALIAN AGRICULTURE TRADE PERFORMANCE 2016/17

From The Traders Community Research Desk

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