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00:52
Australian wool production forecast to drop to 100-year low
STORY: Australian wool production forecast to drop to 100-year low
SHOOTING TIME: Dec. 18, 2024
DATELINE: Dec. 19, 2024
LENGTH: 0:00:52
LOCATION: Canberra
CATEGORY: ECONOMY
SHOTLIST:
1. various of raw wool and shearing sheep
2. various of sheep
STORYLINE:
In Australia, wool production is expected to fall to its lowest level in over a century.
Australia will produce a total of 279.4 million kilograms of shorn raw wool in the ongoing 2024-25 season, a new report from the Australian Wool Production Forecasting Committee (AWPFC) has estimated.
That figure would represent a 12-percent drop from the 318 million kg produced in the 2023-24 season. It will be Australia's lowest level of raw wool production since 1920-21, the Australian Broadcasting Corporation (ABC) reported Tuesday.
The AWPFC forecasted that the total number of sheep shorn will fall to 63.2 million in 2024-25, down 11.7 percent from the previous season. That's a dramatic decrease from a peak of around 180 million in the 1970s.
This season, wool production is forecast to fall in all six Australian states. In four states, production is expected to decline by more than 10 percent.
The sheep slaughter rate between July and September 2024 was 28 percent higher than in the same period of 2023. It also stands at 66 percent higher than the five-year average for the July to September period.
According to Rural Bank, the value of Australia's wool exports stood at 2.8 billion Australian dollars (1.75 billion U.S. dollars) in 2023-2024.
Exports to China accounted for 84.6 percent of the total value of wool exports.
Xinhua News Agency correspondents reporting from Canberra.
(XHTV)
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