Global Demand Drives Strong Wool Prices Up 130% in New Zealand
The world is waking up to the disadvantages of carpets derived from petrochemicals, creating opportunities for New Zealand strong wool.
That's the question many woolgrowers are asking following the recent launch of the latest iteration aimed at revitalising NZ's long-ailing strong wool sector.
Wool Impact Limited came into existence following recent confirmation of the new industry body's $11.4 million funding from both government and industry.
The new entity came about after the Strong Wool Action Group (SWAG) recommended, back in February, the formation of a new strong wool sector organisation.
Wool Impact started operations on July 1, funded by MPI's Sustainable Food and Fibres Future fund ($4.5 million) - with industry groups, including WoolWorks and sheep meat processing entitites, covering the remaining $6.9 million.
Agriculture Minister Damien O'Connor says the new body's purpose is to facilitate innovation and investment, support demand growth, boost sector service, and enable a unified voice for strong wool in New Zealand.
SWAG chair Rob Hewett claims Wool Impact's funding model demonstrated how industry and Government can work together to drive growth for New Zealand's strong wool sector. The entity will have three full-time employees who will work with project partners to implement its strategic plan.
The Campaign for Wool chair Tom O'Sullivan says his organisation is just pleased this announcement has finally been made.
"My CFW board believes that the wool industry must do things differently and core to this is uniting behind a common strategy for NZ strong wool," he told Rural News.
O'Sullivan says CFW is eager to meet with the new Wool Impact team.
"We'd like to commence discussions on how we can collaborate positively behind an overarching comon strategy to position NZ strong wool as the best natural wool fibre in the world."
O'Sullivan adds that for most of the country's strong wool farmers, wool is currently a cost to their business.
"So, we must move with absolute urgency to establish our common strategy and get cracking with delivering on it and return wool to being a significant revenue stream for farmers once again."
Rosstan Mazey, chairman of the National Council of New Zealand Wool Interests, says he is confident Wool Impact will have the capability to support and accelerate growth and innovation across the strong wool sector.
Meanwhile, John McWhirter, chief executive of carpet brand Wools of NZ, claims the new organisation will help fuel innovation and generate new demand for strong wool consumer brands, products and services.
Four Out of Five
Four of the five board members that wil lead Wool Impact were also announced last week. The new board members are:
- Mike Allen - chair
- Nick Aubrey
- Sharon Cresswell
- Bridget Giesen
SWAG chair Rob Hewett says he was delighted with the quality and calibre of the appointees.
"All have extensive skills across multiple sectors with demonstrable experience building brands and revenue on a global scale."
