Chile: Greasy Wool Market 2024

Greasy Wool Market Size in Chile

After two years of decline, the Chilean greasy wool market increased by 14% to $X in 2022. In general, consumption, however, saw a abrupt setback. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Greasy Wool Production in Chile

In value terms, greasy wool production fell to $X in 2022 estimated in export price. Overall, production, however, showed a perceptible reduction. The growth pace was the most rapid in 2021 with an increase of 23%. Greasy wool production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Greasy Wool Exports

Exports from Chile

In 2022, exports of greasy wool from Chile reduced to X tons, which is down by -4.4% compared with the year before. Overall, exports, however, enjoyed a measured increase. The most prominent rate of growth was recorded in 2021 when exports increased by 195% against the previous year. As a result, the exports reached the peak of X tons, and then contracted slightly in the following year.

In value terms, greasy wool exports declined dramatically to $X in 2022. Over the period under review, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 171% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

China (X tons), the Czech Republic (X tons) and Uruguay (X tons) were the main destinations of greasy wool exports from Chile, together accounting for 86% of total exports. Egypt and Bulgaria lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Egypt (with a CAGR of +98.2%), while the other leaders experienced more modest paces of growth.

In value terms, China ($X), Uruguay ($X) and the Czech Republic ($X) were the largest markets for greasy wool exported from Chile worldwide, together comprising 86% of total exports. Egypt and Bulgaria lagged somewhat behind, together comprising a further 14%.

Egypt, with a CAGR of +51.4%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average greasy wool export price stood at $X per ton in 2022, declining by -11.5% against the previous year. In general, the export price saw a pronounced shrinkage. The growth pace was the most rapid in 2018 when the average export price increased by 13%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Uruguay ($X per ton), while the average price for exports to the Czech Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Uruguay (+1.4%), while the prices for the other major destinations experienced a decline.

Greasy Wool Imports

Imports into Chile

In 2022, supplies from abroad of greasy wool increased by 73% to X tons, rising for the fourth consecutive year after three years of decline. Over the period under review, imports enjoyed a significant expansion. The growth pace was the most rapid in 2013 with an increase of 24,784% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, greasy wool imports soared to $X in 2022. In general, imports recorded significant growth. The pace of growth appeared the most rapid in 2013 with an increase of 16,032%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Uruguay (X tons) was the main greasy wool supplier to Chile, accounting for a 95% share of total imports. Moreover, greasy wool imports from Uruguay exceeded the figures recorded by the second-largest supplier, Peru (X kg), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Uruguay totaled +79.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+50.3% per year) and China (-48.2% per year).

In value terms, Uruguay ($X) constituted the largest supplier of greasy wool to Chile, comprising 76% of total imports. The second position in the ranking was taken by Peru ($X), with a 19% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Uruguay amounted to +77.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Peru (+85.4% per year) and China (-60.9% per year).

Import Prices by Country

In 2022, the average greasy wool import price amounted to $X per ton, increasing by 21% against the previous year. Overall, the import price, however, continues to indicate a slight shrinkage. The pace of growth appeared the most rapid in 2021 when the average import price increased by 98%. Over the period under review, average import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Peru ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (+23.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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