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India - Wool - Market Analysis, Forecast, Size, Trends And Insights
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View PricingSurge in India's October 2023 Wool Imports Reaches $8.7M
India Wool Imports
In October 2023, the amount of wool imported into India surged to 6.1K tons, growing by 41% against the previous month. Overall, total imports indicated a perceptible increase from October 2022 to October 2023: its volume increased at an average monthly rate of +2.5% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on October 2023 figures, imports increased by +10.2% against July 2023 indices. The most prominent rate of growth was recorded in July 2023 when imports increased by 100% against the previous month. Imports peaked in October 2023.
In value terms, wool imports soared to $8.7M (IndexBox estimates) in October 2023. In general, total imports indicated a measured increase from October 2022 to October 2023: its value increased at an average monthly rate of +2.7% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on October 2023 figures, imports increased by +50.5% against September 2023 indices. The most prominent rate of growth was recorded in May 2023 with an increase of 90% m-o-m. Over the period under review, imports hit record highs in October 2023.
COUNTRY | Import Value of Wool in India (million USD) | ||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 | Sep 2023 | Oct 2023 | |
New Zealand | 3.5 | 2.9 | 1.7 | 4.2 | 1.4 | 2.8 | 1.5 | 2.9 | 1.1 | 2.5 | 2.6 | 2.5 | 3.5 |
China | 0.9 | 0.5 | 0.3 | 0.6 | 0.6 | 1.4 | 0.6 | 1.2 | 0.5 | 1.1 | 0.2 | 0.8 | 1.9 |
Turkey | 0.4 | 0.9 | 0.2 | 0.4 | 1.0 | 0.2 | 0.4 | 0.7 | 0.8 | 0.6 | 0.7 | 0.5 | 1.0 |
United Kingdom | 0.4 | 0.2 | 0.4 | 0.5 | 0.4 | 0.4 | 0.5 | 0.7 | 0.7 | 0.7 | 0.9 | 0.5 | 0.7 |
Syrian Arab Republic | 0.5 | 1.0 | 0.2 | 0.2 | 0.9 | 0.5 | < 0.1 | 0.6 | 0.2 | 0.7 | 1.2 | 0.4 | 0.2 |
Others | 0.6 | 1.0 | 1.0 | 0.8 | 0.7 | 1.9 | 0.9 | 1.6 | 1.0 | 1.5 | 1.3 | 1.1 | 1.4 |
Total | 6.4 | 6.5 | 3.8 | 6.7 | 4.9 | 7.2 | 4.0 | 7.6 | 4.3 | 7.1 | 6.9 | 5.8 | 8.7 |
Imports by Country
China (2K tons), New Zealand (1.5K tons) and Turkey (983 tons) were the main suppliers of wool imports to India, with a combined 73% share of total imports.
From October 2022 to October 2023, the biggest increases were in Turkey (with a CAGR of +6.8%), while purchases for the other leaders experienced more modest paces of growth.
In value terms, New Zealand ($3.5M), China ($1.9M) and Turkey ($966K) constituted the largest wool suppliers to India, together comprising 73% of total imports.
Among the main suppliers, Turkey, with a CAGR of +7.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
Imports by Type
In October 2023, wool; (not carded or combed), degreased, (not carbonised), (other than shorn) (5.6K tons) was the main type of wool supplied to India, with a 91% share of total imports. Moreover, wool; (not carded or combed), degreased, (not carbonised), (other than shorn) exceeded the figures recorded for the second-largest type, wool; (not carded or combed), degreased, (not carbonised), shorn (523 tons), more than tenfold.
From October 2022 to October 2023, the average monthly growth rate of the volume of import of wool; (not carded or combed), degreased, (not carbonised), (other than shorn) stood at +3.5%. With regard to the other supplied products, the following average monthly rates of growth were recorded: wool; (not carded or combed), degreased, (not carbonised), shorn (-3.9% per month) and wool; (not carded or combed), carbonised (+9.3% per month).
In value terms, wool; (not carded or combed), degreased, (not carbonised), (other than shorn) ($7.1M) constituted the largest type of wool supplied to India, comprising 82% of total imports. The second position in the ranking was held by wool; (not carded or combed), degreased, (not carbonised), shorn ($1.4M), with a 16% share of total imports.
Import Prices by Country
In October 2023, the wool price stood at $1,421 per ton (CIF, India), picking up by 6.7% against the previous month. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in March 2023 when the average import price increased by 76% month-to-month. As a result, import price attained the peak level of $1,989 per ton. From April 2023 to October 2023, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In October 2023, the country with the highest price was the UK ($2,821 per ton), while the price for Algeria ($567 per ton) was amongst the lowest.
From October 2022 to October 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.
This report provides an in-depth analysis of the wool market in India. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 13102200 - Wool, degreased or carbonised, not carded or combed
Country coverage:
- India
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in India
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023