SA's first wool auction for the new marketing season took place this week against the backdrop of a Chinese ban on imports.
A sharp fall in prices at the first auction of SA's new wool auction for this season shows how important it is for the government to get a Chinese ban on imports lifted as soon as possible.
SA's first wool auction for the 2022/23 marketing season took place in Gqeberha this week, and prices were almost 12% down compared to the last auction of the previous season, which took place in June this year. The wool marketing season runs from July to the end of June the following year. Due to the weaker rand, prices were down in rand value by 5.9% for non-certified wool and about 4.9% for certified wool compared to the previous auction in June. Certified wool is from farms audited against sustainability standards. In dollar terms, prices at the auction were down 11.8%, according to Leon de Beer, CEO of the National Wool Growers Association of SA .Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month.
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