The international price of wool remains stable, with slight fluctuations in the Australian market. This week, with limited activity and low supply, the Eastern Markets Indicator (IME) fell three centsmainly due to the 0.7% devaluation of the Australian currency, and closed at US$ 10.21 per kilo clean base, 0.3% below the previous week.
Both in coarse and fine wool, decreases were registered, of up to almost 2% in those of 30 microns. The exception was 17-micron fleece, which increased 0.5% and traded at US$19.39. It is the only category that today has a higher value than at the end of the last harvest (July 2021).
At the local level, the demand is in fine batches and, where possible, with certifications.
The consignee Pablo Iramendi, of Bruno Arrosa & Cía, affirmed that the demand for Corriedale wool is “less stuck” than a month ago, with orders from Europe and deals coming to fruitionalthough they do not reach the values that producers expect due to an excess of stock worldwide.
The exporters, said Iramendi, “are convinced that the stock is beginning to move”.
Coarse wool (around 28 microns) is paid today between US$1.10 and US$1.20 per dirty base kiloand US$1.40 to US$1.50 for green grifa lots, depending on volumes.
In fine wool, in contrast, “we have everything to gain from the political situation between China and Australia, which has benefited us because we are more competitive against Europe,” he said.
Throughout the 2021/2022 harvest, Uruguayan producers have sold certified batches of 18 or 17 micron wool for over US$10 per kilo (dirty basis) to European markets which, according to the consignee, “are spectacular prices”.
Certifications –with the investment they require– continue to be the best option to value all types of wool, a path that is being followed by an increasing number of producers.
john samuel
Better outlook for Corriedale wool demand.
