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

 

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news