South Africa's greasy wool exports drop 7.2% in 2024 to 47,000 tons

South Africa's greasy wool exports declined 7.2 per cent in 2024, falling to 47,000 tons. Despite this drop, exports have shown a mild overall increase over the years. The sector last saw strong growth in 2020, with a 23 per cent rise, but exports have struggled to regain momentum since peaking at 52,000 tons in 2021. In value terms, greasy wool exports fell to $243 million in 2024, continuing a flat trend. The highest export value was recorded in 2018 at $387 million.

China remained the dominant buyer, accounting for 76 per cent of total exports with 36,000 tons. Germany followed with 5,300 tons, and Italy ranked third with 2,700 tons. While exports to China remained stable, Germany and Italy saw significant growth, with annual increases of 77.0 per cent and 4.5 per cent, respectively.

Export prices dropped 7.4 per cent to $5,164 per ton, continuing a downward trend since their 2018 peak of $8,607 per ton. Italy fetched the highest price at $8,010 per ton, while China saw lower prices at $4,805 per ton. With China driving demand but prices falling, South Africa’s wool sector faces ongoing challenges in stabilizing growth and value.