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WPC Comments Labeled Irresponsible Scaremongering

WPC Comments Labeled Irresponsible Scaremongering

New Zealand Wool Services International (WSI) Managing Director Michael Dwyer today labelled comments made by Wool Partners Cooperative (WPC) deputy chairman Mark Shadbolt on TVNZ’s NZI Business as irresponsible scaremongering.

Mr Dwyer said that he could only assume Mr Shadbolt’s comments were a desperate attempt on WPC’s part to stampede growers into signing up to their venture – which would lock them in for five years – as their deadline approaches.

“Comments about the so-called ‘temporary spike in wool prices’ could be a self-fulfilling prophecy. We sincerely hope he doesn’t get his apparent wish for lower prices.

“To date we’ve taken care to remain neutral in the debate over WPC’s efforts to raise $65 million dollars from woolgrowers and secure 50% of New Zealand’s strong wool clip.

“However, in the interests of the New Zealand wool industry we now feel obliged to speak up in response to what appears to be – and will be taken by our overseas buyers to be – a deliberate attempt to talk wool prices down.

“Wool prices have risen rapidly in recent times, and there may be a minor correction, but there is no doubt that prices are now at a new sustainable base level.

“Mr Shadbolt’s comments fly in the face of all the hard work WSI and other wool exporters have put into promoting New Zealand strong wool internationally and building long-term relationships in overseas markets. This hard work is now paying off in the form of an increase in wool prices and higher demand for New Zealand strong wool.

“It would be a severe blow to wool growers – and the New Zealand wool industry – if this was undermined by WPC’s efforts to talk the market down.

“WPC ’s deputy chairman Mark Shadbolt has also made a number of claims that it is selling its brand of wool at a premium well above today’s prices, but has provided no evidence to support them”, said Mr Dwyer.

New Zealand Wool Services International is New Zealand’s largest wool exporter.

ENDS

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