The good news just keeps on coming for wool with an announcement that the Government is investing a considerable sum into wool research.
It is easy to forget that the industry worth about $600 million today, was nearly 5 times bigger in present values, back in the 80's.
Long term research should be aimed at restoring the fortunes of this fine product, so it doesn't fall into the doldrums again.
Wool Partners International are marketing their Laneve brand agressively with a promise of a 70 c/kg premium over auction price for wool that meets the specifications of that brand.
A wool research consortium with the goal of lifting wool industry returns is to receive Government funding reports The Herald.The Foundation for Research, Science and Technology would contribute $8.6 million over five years, which would be matched by the Wool Research Organisation and other industry stakeholders, said Research, Science and Technology Minister Wayne Mapp and Agriculture Minister David Carter.
"The Government's investment in this consortium demonstrates its ongoing commitment to this important industry," the ministers said. Carter said that increased research and development for the wool sector was one of the key recommendations of the Wool Taskforce.
And in a press release,
Wool Partners International (WPI) is offering a further round of procurement premiums to growers who can supply high quality wool required by two British carpet manufacturers.The 70 cents a kilogram premium above auction prices will be offered to eligible growers who can meet the product specifications for LaneveTM. Eligible wool growers need to be accredited to WPI’s Integrity programme and currently paying the Market Development Fee. On the successful conclusion of the Wool Partners Co-operative capital raise, this part of WPI’s business will be purchased by WPC and future premiums at that time will only be available to WPC shareholders.
WPI Chief Executive Officer Iain Abercrombie says “There is an expectation that the luxury of the finest carpet wool produced ethically in a natural environment, coupled with excellence in design, will delight consumers and capture sustainable premiums for growers.
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