Wool growers favour 1.5% levy

AUSTRALIAN wool growers have voted to keep the industry levy at its current level of 1.5 per cent. 

Wool growers across the country voted in this year’s WoolPoll which determines the levy paid to Australian Wool Innovation. 

After preferences were allocated, about 56 per cent of wool growers voted to keep the wool sales levy at 1.5 per cent. 

Funds raised by the levy on wool sales are used to fund research, development and marketing of the natural fibre. 

Growers were given four options to choose from: 0 per cent, 1 per cent, 1.5 per cent, and 2 per cent. 

Before preferences were allocated, 37.85 per cent of votes favoured a rate of 2.0 per cent and the next highest option was a 1.5 per cent rate, with 37.35 per cent support. 

In 2021 the result after preferences was 69 per cent in favour of 1.5 per cent. 

The result was overseen by independent share register firm Link Market Services. 

In total, 39,762 levy-paying woolgrowers were eligible to vote. Voting allocations are based on how much wool each individual or enterprise sells. 

AWI chief executive officer John Roberts says the company will have to make tough choices. 

“Based on current forecast ing AWI will cut spending in the order of $13 million from the start of next financial year,” he said.