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Working group decides fate of Australian Wool Innovation’s wool exchange portal

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A decision on whether the wool industry pursues Australian Wool Innovation’s (AWI) proposal to sell the national clip online could be made by October. That is the timeframe AWI has set for a new working group, which it is hand-picking, to investigate recommendations in the Wool Selling System review and Wool Exchange Portal (WEP). Up to 15 people, including woolgrowers from several states, brokers, exporters and business people will sit on the committee to develop a business case for or against the WEP. Their first meeting is expected mid-July and they will have three months to provide a report on the web-based system to the AWI board.

The WEP was the chief recommendation in the Wool Selling System review released earlier this year. AWI CEO Stuart McCullough said the group’s decision on the online portal would be final. “If this group believes that this is not a good investment of funds, or it doesn’t create a quantum benefit, incremental we’re not satisfied with, I want 10 times benefit. Then they will say, don’t pursue it and we won’t pursue it.”

He said support from Australian woolgrowers for a new method of selling wool had been overwhelmingly positive. “I’m getting unanimous, not 80 per cent, 100 per cent of woolgrowers who think this is a [good] idea. What have we got to lose?”

Source: ABC Rural

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