The New Zealand wool market is experiencing notable shifts, with both challenges and opportunities shaping its trajectory. In a recent interview with Rowena Duncum from The Country, Grant Edwards, the General Manager for Wool at PGG Wrightson, discussed key developments that are influencing the industry.

Crossbred Wool Prices on the Rise 
Edwards mentions “We've seen an increase in crossbred wool prices on the back of a falling New Zealand dollar.” 

Additionally, positive news about the recommissioning of the Awatoto wool scour, which was impacted by the cyclone, has boosted market sentiment.   

Despite the significant flooding experienced by the wool scour, the WoolWorks team has diligently worked to restore its functionality.   

The aim is to have the facility operational by November, which is crucial as approximately 80% of New Zealand's wool is scoured there.   

This development holds promise for addressing the operational challenges that have been affecting the wool supply chain.

Challenges in the Fine Wool Segment 
The the fine wool segment has faced some softening in Australia.   

Grant Edwards highlighted that although a substantial portion of New Zealand's fine wool is contracted, close monitoring is necessary as the industry approaches the Merino season. 

Bremworth's Innovative Subsidy for Woollen Carpets in Schools 
Grant Edwards also lauded an innovative initiative by Bremworth, which involves subsidizing woollen carpets in schools.   

This subsidy program, amounting to around 30%, seeks to promote the use of natural, biodegradable wool for carpets in educational institutions.   

Edwards expressed his support for this initiative, highlighting the environmental benefits of wool over synthetic materials like nylon.  

Notably, the decision to install nylon carpets in over 700 schools stirred up debate and controversy.   

Despite the challenges, the enthusiasm and discussions surrounding this topic are seen as encouraging signs of progress within the industry.

Recognising Student Advocacy  
During the interview, Grant Edwards shared an inspiring anecdote about a Lincoln University student named Danielle. She challenged the Ministry of Education's decision to opt for nylon carpets over wool in schools as part of a project.   

Notably, Danielle's efforts paid off with an impressive score of over 90% for her project. This story underscores the active involvement of the younger generation in advocating for sustainable and environmentally friendly choices.

As the GM for Wool at PGG Wrightson, Grant Edwards provides valuable insights into the evolving landscape of the New Zealand wool market. For more in-depth market reports and insights, sign up to our Wool Street Journal email database.