The export ban of wool to China implemented by China in April 2022 still applies to the South African clip.
Wool auctions continued during the previous season despite large volumes of wool that could not be exported.
These volumes of wool are currently carried as stock, and the great uncertainty regarding the lifting of the ban put significant pressure on the industry.
To strengthen purchasing power at the upcoming auctions, a decision was made to give deferral of payment to the buyers up to 10 business days after the auction; this implies that producers will be paid out 10 business days after the auction.
