Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Sheep farmers to vote in October on reinstating wool levy

Sheep farmers to vote in October on reinstating wool levy to fund industry good body

May 19 (BusinessDesk) – Sheep farmers will vote in October whether to reinstate a wool levy to fund industry good activities, five years after they dumped a national levy in a move that forced a restructure of what was then called Meat & Wool New Zealand.

The Wool Producers Referendum, set for Oct. 10, will ask New Zealand’s 17,000 eligible sheep farmers to approve a levy of between 2 and 5 cents a kilogram of greasy or slipe wool. That would raise $4.6 million, based on a levy of 3 cents/kg on 154,000 tonnes of wool, Sandra Faulkner, chairman of the Wool Levy Group, said in a statement.

Meat & Wool renamed as Beef + Lamb after farmers in 2009 voted against an industry good levy, ending funding for the body’s wool marketing, funding and training services.

Faulkner said while Merino NZ, Primary Wool Co-op and Wools of New Zealand represented growers beyond the farm gate, around 50 percent of farmers weren’t affiliated with those groups.

“A positive grower vote, both by number and weighted sheep numbers, is required for the Wool Levy Referendum to be presented to the Ministry for Primary Industries before the minister can enact the necessary regulations under the Commodities Levies Act 1990,” she said.

“The average value of raw wool exports increased by 38% between 2010 and 2014 and our industry is now worth $700 million,” she said.

New Zealand is the world’s third largest wool exporter, supplying 45 percent of the world’s carpet wool.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Company Results: Air NZ Rides The Tourism Boom With Record Full-Year Earnings

Air New Zealand has ridden the tourism boom and staved off increased competition to deliver the best full-year earnings in its 76-year history. More>>

ALSO:

New PGP: Sheep Milk Industry Gets $12.6M Crown Funding

The Sheep - Horizon Three programme aims to develop "a market driven, end-to-end value chain generating annual revenues of between $200 million and $700 million by 2030," according to a joint statement. More>>

ALSO:

Half Full: Fonterra Raises Forecast Milk Price

Fonterra Co-operative Group Limited today increased its 2016/17 forecast Farmgate Milk Price by 50 cents to $4.75 per kgMS. When combined with the forecast earnings per share range for the 2017 financial year of 50 to 60 cents, the total payout available to farmers in the current season is forecast to be $5.25 to $5.35 before retentions. More>>

ALSO:

Keep Digging: Seabed Ironsands Miner TransTasman Tries Again

The first company to attempt to gain a resource consent to mine ironsands from the ocean floor in New Zealand's Exclusive Economic Zone has lodged a new application containing fresh scientific and other evidence it hopes will persuade regulators after their initial application was turned down in 2014. More>>

Wool Pulled: Duvets Sold As ‘Premium Alpaca’ Mostly Sheep’s Wool

Rotorua business Budge Collection Limited (Budge) and sole director, Sun Dong Kim, were convicted and fined a total of $71,250 in Auckland District Court after each pleading guilty to four charges of misrepresenting how much alpaca fibre was in their duvets. More>>

Reserve Bank: Labour Calls For Monetary Policy To Expand Goals

Labour's comments follow a speech today by RBNZ governor Graeme Wheeler in which Wheeler sought to answer critics who variously say he should stop lowering interest rates, lower them faster, or that inflation-targeting should no longer be the primary goal of the central bank's activities. More>>

ALSO:

BSA Extension And Sunday Morning Ads: Digital Convergence Bill Captures Online Content

Broadcasting Minister Amy Adams has today announced the Government’s plans to update the Broadcasting Act to better reflect today’s converged market... The Government considered four areas as part of its review into content regulation: classification requirements, advertising restrictions, election programming and contestable funding. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news